Pharma BD Deal Intelligence

Merus N.V. / Halozyme Therapeutics, Inc.

2025 · Licensing/Option · Complete

Merus and Halozyme entered a global non-exclusive collaboration and license agreement under which Merus licensed Halozyme's ENHANZE drug delivery technology to develop and potentially commercialize a subcutaneous formulation of petosemtamab, Merus's EGFR x LGR5 bispecific antibody. Halozyme is entitled to an upfront payment, development milestones and up to low- to mid-single-digit royalties on net sales of petosemtamab formulated with ENHANZE. Financial terms were not disclosed.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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