ARTICLE | Finance
Crossing, not yet listing
Why Merus' crossover round might not signal an impending IPO
September 7, 2015 7:00 AM UTC
While a financing laden with U.S. crossover investors typically signals a European biotech's near-term plans to list on NASDAQ, that's not necessarily so for Merus B.V.'s series C round. The reason, said RA Capital's Rajeev Shah, is the syndicate has infused the bispecific antibody company with enough money to take a wait-and-see attitude.
On Aug. 26, Merus raised the first tranche of a €72.8 million ($83.6 million) financing led by new investors Sofinnova Ventures and Novo A/S. Other new investors included a cadre of crossovers: RA Capital, Rock Springs Capital and Tekla Capital Management...