Netherlands-based biopharmaceutical company Merus has closed a €31m extension to its Series B financing round, bringing the total round to €47.6m.
Corporate investment group Johnson & Johnson Development Corporation (JJDC) joined as a new investor along with existing investors including life science-focused Novartis Venture Fund and Bay City Capital, corporate venture capital firm Pfizer Venture Investments, European VC Life Sciences Partners and Dutch venture capital firm Aglaia Oncology Fund.
A representative of JJDC will join Merus’ board of directors as part of the deal. Merus will use the new funds to broaden its portfolio of pre-clinical programs for the treatment of cancer patients and to bring its lead programs into phase I clinical testing, the company said.
The Novartis Venture Funds currently manage over $850m in capital and are invested globally in more than 50 private life sciences companies across therapeutics, vaccines, devices and diagnostics.
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