COPENHAGEN, Sept 29, 2025 (BSS/AFP) - Danish biotech group Genmab said Monday it would spend $8 billion to acquire Dutch company Merus which has developed a promising head and neck cancer treatment.

The acquisition "has the potential to significantly accelerate our evolution into a global biotechnology leader", Genmab chief executive Jan van de Winkel said in a statement.

Merus' "petosemtamab" cancer therapy is in phase 3 development and could hit the market in 2027.

It "has the potential to be a transformational therapy for patients living with head and neck cancer", van de Winkel said.

The Danish group said it expects the cancer treatment to contribute to its earnings with at least $1 billion in annual sales potential by 2029, "with multi-billion-dollar annual revenue potential thereafter."

Genmab already has the Darzalex cancer therapy in its portfolio, used to treat a type of bone marrow cancer called multiple myeloma and is sold by Johnson & Johnson.