Merus, Partner Therapeutics Ink Deal To Commercialize Zenocutuzumab In US, Stock Up In Pre-Market

(RTTNews) - Merus N.V. (MRUS), Monday announced an agreement with Partner Therapeutics, Inc. to commercialize Zenocutuzumab for the treatment of NRG1 fusion-positive or NRG1+ cancer in the U.S.

Under the deal, Partner Therapeutics will assume full rights to U.S. commercialization of Zenocutuzumab after a specified transition period.

Meanwhile, Merus will receive an upfront payment, milestone payments, and high single-digit to low double-digit royalty payments based on the annual net sales of Zenocutuzumab in NRG1+ cancer in the U.S. for any potential future sales.

The clinical-stage oncology company added that a Biologics License Application for Zenocutuzumab is currently under review by the U.S. Food and Drug Administration for the treatment of patients with previously treated NRG1+ non-small cell lung cancer and pancreatic cancer.

During the pre-market hours, Merus's stock is trading at $47.10, up 5.04 percent on the Nasdaq.