Merus secures EUR 31 million in B round extension

Merus B.V. (Utrecht, the Netherlands) secured EUR 31 million ($41.9 million) in a tranched extension of a series B round, bringing the total secured in the round to EUR 47.6 million ($64.4 million). The company secured EUR 21.7 million ($30.3 million) in the B round in 2010, though Merus said EUR 5 million ($6.8 million) of the initial close was rolled into the B round extension.

New investor Johnson & Johnson Development Corp. (JJDC) -- the venture arm of Johnson & Johnson (NYSE:JNJ) -- participated in the extension, along with existing investors Novartis Venture Fund; Pfizer Venture Investment; Bay City Capital; Life Sciences Partners; and Aglaia Oncology Fund. Merus declined to disclose how much it will receive up front but said the tranches are tied to CMC work. A JJDC representative will join Merus' board. ...