<SEC-DOCUMENT>0001193125-16-800493.txt : 20161221
<SEC-HEADER>0001193125-16-800493.hdr.sgml : 20161221
<ACCEPTANCE-DATETIME>20161221161602
ACCESSION NUMBER:		0001193125-16-800493
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20161221
FILED AS OF DATE:		20161221
DATE AS OF CHANGE:		20161221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Merus N.V.
		CENTRAL INDEX KEY:			0001651311
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37773
		FILM NUMBER:		162064110

	BUSINESS ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			P7
		ZIP:			3584 CM
		BUSINESS PHONE:		31 030 253 8800

	MAIL ADDRESS:	
		STREET 1:		YALELAAN 62
		CITY:			3584 CM UTRECHT
		STATE:			P7
		ZIP:			3584 CM

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Merus B.V.
		DATE OF NAME CHANGE:	20150819
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d294502d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO <FONT STYLE="white-space:nowrap">RULE&nbsp;13a-16</FONT> OR
<FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of December 2016 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission
File Number: <FONT STYLE="white-space:nowrap">001-37773</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Merus N.V.
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Yalelaan 62 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3584 CM
Utrecht </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The Netherlands </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>+31 30 253 8800 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address
of principal executive office) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT
STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form
<FONT STYLE="white-space:nowrap">20-F&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form</FONT> <FONT STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9744;</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1):&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7):&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION CONTAINED IN THIS REPORT ON FORM <FONT STYLE="white-space:nowrap">6-K</FONT>
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Collaboration and Financing with Incyte Corporation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December 20, 2016, Merus N.V., a public company with limited liability incorporated under the laws of the Netherlands (the
&#147;Company,&#148; &#147;we,&#148; and &#147;our&#148;), entered into a Collaboration and License Agreement (the &#147;Collaboration Agreement&#148;) and Share Subscription Agreement (the &#147;Subscription Agreement&#148;) with Incyte
Corporation, a Delaware corporation (&#147;Incyte&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Collaboration and License Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the terms of the Collaboration Agreement, the parties have agreed to collaborate with respect to the research, discovery and development
of bispecific antibodies utilizing the Company&#146;s proprietary bispecific technology platform. The collaboration encompasses up to 11 independent programs, including two of the Company&#146;s current preclinical immuno-oncology discovery
programs. For one of the current preclinical programs (&#147;Program 1&#148;), the Company retains the exclusive right to develop and commercialize products and product candidates in the United States, while Incyte has the exclusive right to develop
and commercialize products and product candidates arising from such program outside the United States. For Program 1, the parties will conduct and share equally the costs of mutually agreed global development activities, and will be solely
responsible for independent development activities in their respective territories. The Company has the option to <FONT STYLE="white-space:nowrap">co-fund</FONT> development of products arising from two other programs in exchange for a share of
profits in the United States, as well as the right to participate in a specified proportion of detailing activities in the United States for one of such programs. Should Program 1 fail to successfully complete
<FONT STYLE="white-space:nowrap">IND-enabling</FONT> toxicology studies, the Company would be granted an additional option to <FONT STYLE="white-space:nowrap">co-fund</FONT> development of a program in exchange for a share of profits in the United
States. If the Company exercises its <FONT STYLE="white-space:nowrap">co-funding</FONT> option for a program, the Company would be responsible for funding 35% of the associated future global development costs and, for certain of such programs, would
be responsible for reimbursing Incyte for certain development costs incurred prior to the option exercise. All products as to which the Company has exercised its option to co-fund development would be subject to joint development plans and overseen
by a joint development committee, with Incyte having final determination as to such plans in cases of dispute. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For each program other
than Program 1, where the Company has not elected to <FONT STYLE="white-space:nowrap">co-fund</FONT> development or where the Company does not have such a <FONT STYLE="white-space:nowrap">co-funding</FONT> option, Incyte is solely responsible for
all costs of global development and commercialization activities. The Company retains the rights to its bispecific technology platform as well as clinical and <FONT STYLE="white-space:nowrap">pre-clinical</FONT> candidates and future programs
emerging from the Company&#146;s platform that are outside the scope of the Collaboration Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Incyte has agreed to pay an upfront <FONT
STYLE="white-space:nowrap">non-refundable</FONT> payment of $120<U></U>&nbsp;million for the rights granted under the Collaboration Agreement. For each program as to which the Company does not have commercialization or
<FONT STYLE="white-space:nowrap">co-development</FONT> rights, the Company is eligible to receive up to $100&nbsp;million in future contingent development and regulatory milestones and up to $250&nbsp;million in commercialization milestones as well
as tiered royalties ranging from 6% to 10% of global net sales. For each program as to which the Company has exercised its option to <FONT STYLE="white-space:nowrap">co-fund</FONT> development, the Company is eligible to receive a 50% share of
profits (or sustain 50% of any losses) in the United States and tiered royalties ranging from 6% to 10% of net sales of products outside of the United States. If the Company opts to cease <FONT STYLE="white-space:nowrap">co-funding</FONT> a program
as to which it exercised its <FONT STYLE="white-space:nowrap">co-development</FONT> option, then the Company will no longer receive a share of profits in the United States but will be eligible to receive the same milestones from the <FONT
STYLE="white-space:nowrap">co-funding</FONT> termination date and the same tiered royalties described above with respect to <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">non-co-developed</FONT></FONT> programs and, depending on
the stage at which the Company chose to cease <FONT STYLE="white-space:nowrap">co-funding</FONT> development costs, additional royalties ranging up to 4% of net sales in the United States. For Program 1, for which the Company retains all commercial
rights in the United States, each of the Company and Incyte is eligible to receive tiered royalties on net sales in the other party&#146;s territory at rates ranging from 6% to 10%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Collaboration Agreement will continue on a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">program-by-program</FONT></FONT> basis until the Company has no royalty payment obligations with respect to such program or, if earlier, the termination of the Collaboration Agreement
or any program in accordance with the terms of the Collaboration Agreement. The Collaboration Agreement may be terminated in its entirety or on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">program-by-program</FONT></FONT>
basis by the Company for convenience. The Collaboration Agreement may also be terminated by either party under certain other circumstances, including material breach, as set forth in the Collaboration Agreement. If the Collaboration Agreement is
terminated with respect to one or more programs, all rights in the terminated programs revert to the Company, subject to payment to Incyte of a reverse royalty of up to 4% on sales of future products, if the Company elects to pursue development and
commercialization of products arising from the terminated programs. The effectiveness of the Collaboration Agreement is conditioned on the early termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976 (the &#147;HSR Act&#148;); provided, that, certain provisions, including those relating to conduct of business prior to effectiveness and confidentiality, became effective upon execution of the Collaboration Agreement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Share Subscription Agreement </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Subscription Agreement, the Company has agreed to sell 3,200,000 (the &#147;Shares&#148;) of its common shares, nominal value
&#128;0.09 per share (the &#147;Common Shares&#148;), to Incyte at a price per share of $25.00, for an aggregate purchase price of $80&nbsp;million, representing 19.9% of the <FONT STYLE="white-space:nowrap">pre-transaction</FONT> issued and
outstanding Common Shares of the Company. The consummation of the transactions contemplated by the Subscription Agreement (the &#147;Closing Date&#148;) is subject to the early termination or expiration of the waiting period under the HSR Act, no
termination or breach that is continuing of the Collaboration Agreement, and the satisfaction or waiver of customary closing conditions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Subscription Agreement, for a specified period that may terminate earlier upon the occurrence of certain events related to the
acquisition of the Company or the termination of the Collaboration Agreement (the &#147;Standstill Period&#148;), Incyte has agreed, subject to certain exceptions, that it will not, directly or indirectly, increase its percentage ownership of the
Company&#146;s voting securities, make or solicit proxies or seek to influence the voting of securities of the Company, seek to influence or control the management of the Company, make a proposal or offer to acquire the Company or its assets, or
seek to effect a change of control of the Company or other similar extraordinary transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Incyte has also agreed that for a period
ending on the earlier of 18 months after the Closing Date or the end of the Standstill Period (the <FONT STYLE="white-space:nowrap">&#147;Lock-Up</FONT> Period&#148;), it will not, subject to certain exceptions, sell or otherwise transfer or agree
to transfer the Shares. In addition, if the Standstill Period has not been terminated early, for a period of three years after the end of the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period, Incyte will be restricted from selling or otherwise
transferring more than <FONT STYLE="white-space:nowrap">one-third</FONT> of the Shares during any 12-month period or ten percent of the Shares during any three-month period, unless the Company consents otherwise. Incyte has further agreed that
during the Standstill Period, it will vote all of the voting securities that it holds in accordance with the recommendation of a majority of the Company&#146;s supervisory board. However, Incyte may vote its securities at its own discretion for
certain extraordinary matters, including a change in control of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also agreed to customary resale registration
rights with respect to the Shares, however, any such resales will be subject to the <FONT STYLE="white-space:nowrap">Lock-Up</FONT> Period and volume limitations on sale and transfer of the Shares described above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Subscription Agreement may be terminated at any time prior to the Closing Date by mutual consent or by either party if the Closing Date
has not occurred within 90 days following the date of the Subscription Agreement, if it becomes unable to fulfill the closing conditions and its inability to do so is not due to such party&#146;s failure to fulfill its obligations under the
Subscription Agreement, or, as long as the party is not in breach of the Subscription Agreement, upon the material breach by the other party of any covenant or agreement or upon a representation or warranty given by the other party becoming untrue
so that certain closing conditions cannot be met. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Press Release </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December 21, 2016, the Company and Incyte issued a press release regarding the Collaboration Agreement and the Subscription Agreement. A
copy of the press release is furnished herewith as Exhibit&nbsp;99.1 to this Report on Form <FONT STYLE="white-space:nowrap">6-K.</FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Report on Form <FONT
STYLE="white-space:nowrap">6-K</FONT> (the &#147;Report&#148;) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Report that do not relate to matters of
historical fact should be considered forward-looking statements, including without limitation statements regarding collaboration activities and process, the amount and timing of potential milestone and royalty payments and the consummation and
timing of the transactions contemplated by the Collaboration Agreement and the Subscription Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These forward-looking statements are based on
management&#146;s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: we have incurred significant losses, are not currently profitable and may
never become profitable; our need for additional funding, which may not be available and which may require us to restrict our operations or require us to relinquish rights to our technologies or bispecific antibody candidates; potential delays in
regulatory approval, which would impact the ability to commercialize our product candidates and affect our ability to generate revenue; the unproven approach to therapeutic intervention of our
Biclonics<B><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></B> technology; potential difficulties in validating and </P>

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developing companion diagnostics, which could harm our development strategy; our limited operating history; economic, political, regulatory and other risks involved with international operations;
exchange rate fluctuations or abandonment of the euro currency; the lengthy and expensive process of clinical drug development, which has an uncertain outcome; the unpredictable nature of our early stage development efforts for marketable drugs;
potential adverse public reaction to the use of cancer immunotherapies; potential delays in enrollment of patients, which could affect the receipt of necessary regulatory approvals; our potential exposure to costly and damaging liability claims;
post-marketing restrictions or withdrawal from the market; failure to obtain marketing approval internationally; compliance with environmental, health, and safety laws and regulations; anti-kickback, fraud, abuse, and other healthcare laws and
regulations exposing us to potential criminal sanctions; recently enacted or future legislation; failure to compete successfully against other drug companies; potential competition from other drug companies if we fail to obtain orphan drug
designation or maintain orphan drug exclusivity for our products; the possibility that governmental authorities and health insurers may not establish adequate reimbursement levels and pricing policies to support our products; the potential failure
of our product candidates to be accepted on the market by the medical community; our lack of experience selling, marketing and distributing products and our lack of internal capability to do so; potential competition from biosimilars; our reliance
on third parties to conduct our clinical trials and the potential for those third parties to not perform satisfactorily; our reliance on third parties to manufacture our product candidates, which may delay, prevent or impair our development and
commercialization efforts; protection of our proprietary technology; our patents being found invalid or unenforceable; potential lawsuits for infringement of third-party intellectual property; adequate protection of our trademarks; our potential
failure to obtain extensions of the terms of patents covering our products; potential difficulties protecting our intellectual property rights in certain jurisdictions; changes in United States patent law; protection of the confidentiality of our
trade secrets; claims asserting that we or our employees misappropriated a third-party&#146;s intellectual property or otherwise claiming ownership of what we regard as our intellectual property; compliance with patent regulations; potential system
failures; our ability to attract and retain key personnel; managing our growth could result in difficulties; the price of our common stock may fluctuate substantially; certain of our shareholders and members of our management board own a majority of
our outstanding shares and exercise significant control over us; a significant portion of our total outstanding shares are eligible to be sold into the market; provisions of our Articles of Association or Dutch corporate law might deter favorable
acquisition bids for us or prevent a beneficial change of control; we may lose our foreign private issuer status and incur significant expenses as a result; and unfavorable or lacking analyst research or reports might cause the price of our common
shares to decline. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These and other important factors discussed under the caption &#147;Risk Factors&#148; in our final prospectus filed with the
Securities and Exchange Commission (&#147;SEC&#148;) on May&nbsp;20, 2016 relating to our Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1,</FONT> and our other reports filed with the SEC could cause actual results to differ
materially from those indicated by the forward-looking statements made in this Report. Any such forward-looking statements represent management&#146;s estimates as of the date of this Report. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the
date of this Report. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3"><B>Merus N.V.</B></TD></TR>
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<TD VALIGN="top">Date: December 21, 2016</TD>
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<TD VALIGN="bottom">By:</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ton Logtenberg</P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3">&nbsp;&nbsp;Name: Ton Logtenberg</TD></TR>
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<TD VALIGN="bottom" COLSPAN="3">&nbsp;&nbsp;Title: &nbsp;&nbsp;Chief Executive Officer</TD></TR>
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<TD VALIGN="bottom">By:</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Shelley Margetson</P></TD></TR>
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<TD VALIGN="bottom" COLSPAN="3">&nbsp;&nbsp;Name: Shelley Margetson</TD></TR>
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<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom" COLSPAN="3">&nbsp;&nbsp;Title: &nbsp;&nbsp;Chief Operating Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
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<TD VALIGN="top">Press release of Merus N.V. and Incyte, dated December 21, 2016.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>For Immediate Release </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Incyte and Merus Announce Global Strategic Research Collaboration to Discover and Develop Bispecific Antibodies </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Collaboration designed to leverage Merus&#146; Biclonics</I><I><SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP></I><I> bispecific antibody technology to expand Incyte&#146;s discovery capabilities and
large-molecule portfolio</I> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Incyte to make <FONT STYLE="white-space:nowrap">up-front</FONT> payment of $120</I><I></I><I>&nbsp;million and purchase $80</I><I></I><I>&nbsp;million of Merus common shares; Merus eligible to receive potential
development, regulatory and commercial milestones and sales royalties</I> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Merus conference call scheduled today at 8:30 a.m. ET, 2:30 p.m. CET</I> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WILMINGTON, DE AND UTRECHT,
THE NETHERLANDS, December</B><B></B><B>&nbsp;21, 2016</B> &#150; Incyte Corporation (NASDAQ: INCY) and Merus N.V. (NASDAQ: MRUS) announced today that they have entered into a global, strategic collaboration agreement focused on the research,
discovery and development of bispecific antibodies utilizing Merus&#146; proprietary Biclonics<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> technology platform. The Collaboration and License Agreement grants Incyte the exclusive rights
for up to eleven bispecific antibody research programs, including two of Merus&#146; current preclinical immuno-oncology discovery programs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Biclonics<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> retain the IgG format of antibodies that are produced naturally by the immune system and, by binding to two targets, enable multiple modes of action that cannot otherwise be obtained with
conventional monoclonal antibodies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;By virtue of a unique ability to simultaneously engage multiple protein targets, we believe bispecific
antibodies have the potential to play an important role in the future of biotherapeutics,&#148; said Reid Huber, Ph.D., Incyte&#146;s Chief Scientific Officer. &#147;This collaboration with Merus expands our large molecule discovery capabilities
into an innovation-rich area of research, creating additional opportunities for us to deliver on our commitment to improving and extending the lives of patients with cancer and other serious diseases.&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;This transformative, global collaboration further underscores the potential of Merus&#146; Biclonics<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> technology platform and establishes a strong relationship with Incyte, a leader in innovative drug development,&#148; said Ton Logtenberg, Ph.D., Chief Executive Officer of Merus. &#147;We look
forward to expanding our pipeline under this agreement, as we efficiently exploit our preclinical discovery engine and progress our most advanced, proprietary assets in the clinic.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Terms of the Collaboration </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the
collaboration, Incyte has agreed to pay Merus an upfront payment of $120&nbsp;million. In addition, Incyte has agreed to purchase 3.2&nbsp;million shares of Merus stock at $25 per share, for a total equity investment of $80&nbsp;million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The parties have agreed to collaborate on the development and commercialization of up to 11 bispecific antibody programs. For one current preclinical program,
Merus will retain all rights to develop and commercialize approved products in the United States, and Incyte will develop and commercialize approved products arising from the program outside the United States. Following any regulatory approval of a
product candidate for this particular <FONT STYLE="white-space:nowrap">pre-clinical</FONT> program, each company has agreed to pay the other tiered royalties ranging from 6 to 10&nbsp;percent on net sales of products in their respective territories.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merus also has the option to <FONT STYLE="white-space:nowrap">co-fund</FONT> development of product candidates arising from two other programs. For any
program for which Merus exercises its <FONT STYLE="white-space:nowrap">co-development</FONT> option, Merus would be responsible for 35&nbsp;percent of global development costs in exchange for a 50&nbsp;percent share of U.S. profits and losses and
tiered royalties ranging from 6 to 10&nbsp;percent on <FONT STYLE="white-space:nowrap">ex-U.S.</FONT> sales by Incyte for these programs. Merus also has the right to elect to provide up to 50&nbsp;percent of detailing activities for product
candidates arising from one of these programs in the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For each of the other eight programs, Incyte has agreed to independently fund all
development and commercialization activities. For these programs, Merus will be eligible to receive potential development, regulatory and sales milestone payments of up to $350&nbsp;million per program, which&nbsp;could&nbsp;result in an
aggregate&nbsp;milestone opportunity of approximately $2.8 billion&nbsp;if all development, regulatory and sales milestones are achieved across all such eight other programs in all territories. Merus will also be eligible to receive tiered royalties
ranging from 6 to 10&nbsp;percent on global sales of any approved products under these eight programs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merus will retain rights to both of its clinical
candidates and MCLA-158, as well as its technology platform and future programs emerging from Merus&#146; platform that are outside the scope of this agreement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transaction is expected to close in the first quarter of 2017, subject to the early termination or expiration
of any applicable waiting periods under the Hart-Scott Rodino Act and customary closing conditions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Conference Call and Webcast Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merus will host a conference call today to discuss this strategic research collaboration at 8:30 a.m. ET, 2:30 p.m. CET. Participants may access the call by
dialing <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">866-978-9968</FONT></FONT> in the U.S. or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">646-722-4972</FONT></FONT> outside the U.S. and referencing
conference ID number 72944512#. The conference call will also be available by webcast on the Investor Relations page of Merus&#146; website, <U>www.merus.nl</U>. An audio replay of the call will be available from 11:30 a.m. ET on December&nbsp;20,
2016 until 11:30 a.m. ET on January&nbsp;3, 2017. To access the replay from both within and outside the U.S., dial <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">866-535-8030.</FONT></FONT> The participant passcode is 680343#.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Incyte </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Incyte Corporation is a Wilmington,
Delaware-based biopharmaceutical company focused on the discovery, development and commercialization of proprietary therapeutics. For additional information on Incyte, please visit the Company&#146;s website at <U>www.incyte.com</U><U>.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Follow @Incyte on Twitter at <U>https://twitter.com/Incyte</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Merus N.V. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merus is a clinical-stage
immuno-oncology company developing innovative human bispecific antibody therapeutics, referred to as Biclonics<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>. Biclonics<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> are based
on the full-length IgG format, are manufactured using industry standard processes and have been observed in preclinical studies to have several of the same features of conventional monoclonal antibodies, such as long half-life and low
immunogenicity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information, please visit the Company&#146;s website at <U>www.merus.nl</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Incyte Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except for the
historical information set forth herein, the matters set forth in this press release contain predictions, estimates and other forward-looking statements, including without limitation statements regarding: whether and when the planned collaboration
with Merus and the purchase of common shares of Merus by Incyte will close; whether and when this planned collaboration will effectively expand </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Incyte&#146;s discovery capabilities and large-molecule portfolio; whether any of the programs under the collaboration will be successful or will produce any products that will be approved for
use in humans anywhere or will be commercialized anywhere successfully or at all; and whether and when any of the milestone payments or royalties under this collaboration will ever be paid by Incyte. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: obtaining approval for this planned collaboration; research and development efforts related to the
collaboration programs; the possibility that results of clinical trials may be unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; other market or economic factors; unanticipated delays; our ability
to compete against parties with greater financial or other resources; greater than expected expenses; and such other risks detailed from time to time in Incyte&#146;s reports filed with the Securities and Exchange Commission, including our Form <FONT
STYLE="white-space:nowrap">10-Q</FONT> for the quarter ended September&nbsp;30, 2016. Incyte disclaims any intent or obligation to update these forward-looking statements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Merus Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except for the
historical information set forth herein, this press release contains predictions, estimates and other forward-looking statements, including without limitation statements regarding: whether and when the planned collaboration with Incyte and
Incyte&#146;s purchase of Merus common shares will close; Merus&#146; expectations regarding the expansion of Merus&#146; pipeline as a result of the collaboration, efficiently exploiting its preclinical discovery engine, and advancing later-stage
assets in the clinic; the potential of bispecific antibodies for biotherapeutics; the value of the collaboration for Merus&#146; Biclonics<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> technology platform; whether any of the programs
under the collaboration will be successful; and whether and when Merus will receive any of the expected or potential payments under this collaboration and the amounts of such payments to Merus. These forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ materially from our expectations, including unanticipated developments in and risks related to: obtaining HSR approval for this planned collaboration; research and development efforts related
to the collaboration programs; the clinical development process, which is expensive and unpredictable; the possibility that results of clinical trials may be unsuccessful or insufficient to meet applicable regulatory standards or warrant continued
development; other market or economic factors; unanticipated delays; our ability to compete against parties with greater financial or other resources; our ability to commercialize and market our products, if approved; greater than expected expenses;
and the other important factors detailed in our final prospectus filed with </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Securities and Exchange Commission, or SEC, on May&nbsp;20, 2016 relating to our Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1,</FONT> and our other reports filed with
the SEC. Merus disclaims any intent or obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing Merus&#146; views as of any date subsequent to the date of this press release.
<B></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">#&nbsp;#&nbsp;# </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Contacts:
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Incyte </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Catalina Loveman, Media </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 302 498 6171 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>cloveman@incyte.com</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael Booth, DPhil, Investors </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 302 498 5914 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>mbooth@incyte.com</U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Merus </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eliza Schleifstein, Media </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 973 361 1546 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>eliza@argotpartners.com </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kimberly Minarovich, Investors
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 646 368 8014 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>kimberly@argotpartners.com</U> </P>
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