08:18 AM EDT, 09/29/2025 (MT Newswires) -- (Updates with Genmab's ( GMAB ) and Merus' latest stock moves in the sixth paragraph.)

Genmab ( GMAB ) has agreed to acquire biotechnology firm Merus (MRUS) in an all-cash deal worth about $8 billion, the companies said in a joint statement Monday.

Under the terms of the deal, a subsidiary of Genmab ( GMAB ) will launch a tender offer to purchase all of Merus' shares at $97 apiece.

The deal is expected to be completed in Q1, the companies said. Genmab ( GMAB ) plans to fund the acquisition through a combination of cash on hand and about $5.5 billion of non-convertible debt financing.

The transaction will provide Genmab ( GMAB ) access to Merus' lead therapeutic candidate for head and neck cancer, petosemtamab, which is currently being evaluated in phase 3 trials with topline interim data anticipated in 2026.

Genmab ( GMAB ) expects petosemtamab to potentially launch in 2027, subject to clinical results and regulatory approval. The company believes petosemtamab will be accretive to EBITDA with at least $1 billion annual sales potential by 2029.

Genmab ( GMAB ) shares were down more than 5% and Merus stock was over 37% higher in recent Monday premarket activity.