Merus is a clinical-stage oncology biotech based in the Netherlands focused on developing multispecific antibody therapeutics to treat cancer. Merus' core technology platforms — Biclonics® and Triclonics® — generate bispecific and trispecific antibodies that bind two or three targets simultaneously, unlike conventional monoclonal antibodies. By hitting multiple targets at once, these antibodies can block tumor growth signals while also recruiting the immune system to attack cancer cells, which Merus argues delivers better efficacy and more precise targeting than conventional approaches. Merus has one FDA-approved product, BIZENGRI (zenocutuzumab), approved in December 2024 for NRG1 fusion-positive pancreatic and non-small cell lung cancers. Merus licensed U.S. commercialization rights to Partner Therapeutics in exchange for an upfront payment, up to $130M in sales milestones, and royalties on U.S. net sales. Merus' lead pipeline candidate, petosemtamab, is a bispecific antibody targeting EGFR and LGR5 in head and neck squamous cell carcinoma, currently in two Phase 3 trials and holding two FDA Breakthrough Therapy designations. Merus generates revenue primarily through platform licensing deals — with partners including Incyte, Eli Lilly, Gilead, and Biohaven — collecting upfront fees, milestones, and royalties while partners fund development. Merus outsources all manufacturing to contract manufacturers and relies on external funding and collaboration revenue to finance its pipeline.