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Merus Strengthens Executive Management Team with the Appointment of John Crowley as Chief Financial Officer

Merus N.V.
Press release

Merus Strengthens Executive Management Team with the Appointment of John
Crowley as Chief Financial Officer

Former CFO Shelley Margetson Elevated to Chief Operating Officer

UTRECHT, The Netherlands, 2016-11-03 12:00 CET (GLOBE NEWSWIRE) --
Merus N.V. (NASDAQ:MRUS), a clinical-stage immuno-oncology company developing
innovative bispecific antibody therapeutics, today announced the appointment of
John Crowley as Chief Financial Officer. In this position, Mr. Crowley will
lead Merus’ finance function reporting to Dr. Ton Logtenberg, Chief Executive
Officer of Merus. He will be based in Cambridge, Massachusetts. Former Chief
Financial Officer, Ms. Shelley Margetson has been elevated to Chief Operating

“John brings strong financial acumen, global biotech operational experience and
leadership capabilities to Merus during an important time in the Company’s
evolution,” said Dr. Logtenberg. “We look forward to his contributions as a
member of the executive leadership team as we expand our US footprint, and
execute our development strategy for our Biclonics platform.”

Dr. Logtenberg continued, “I would also like to thank Shelley for her
exceptional performance as our Chief Financial Officer and her critical role in
our successful initial public offering on the NASDAQ exchange last May. Her
high degree of performance and commitment fully justifies her new role.”

“I am excited to join Merus at its current phase of development and to work
closely with its global executive team,” said Mr. Crowley. “The Company has
made significant progress in advancing its two lead compounds into the clinic,
establishing collaborations with international companies and successfully
completing a public offering to support the development of its clinical
programs. I look forward to helping to navigate the Company towards its next

Mr. Crowley has over 20 years of global biotechnology financial and operational
experience. Most recently, he served as Corporate Senior Vice President,
Corporate Controller and Chief Accounting Officer of Charles River
Laboratories. Previously, he served as the Vice President, Corporate Controller
and Chief Accounting Officer at Ironwood Pharmaceuticals and held senior
corporate finance positions at Vertex Pharmaceuticals and Sunovian
Pharmaceuticals, Inc. Mr. Crowley is a Certified Public Accountant and
graduated Summa Cum Laude from Babson College with B.S. degrees in both
Economics and Accountancy.

About Merus N.V.
Merus is a clinical-stage immuno-oncology company developing innovative full
length human bispecific antibody therapeutics, referred to as Biclonics®.
Biclonics® 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. Merus' lead bispecific antibody
candidate, MCLA-128, is being evaluated in a Phase 1/2 clinical trial in Europe
as a potential treatment for HER2-expressing solid tumors. Merus' second
bispecific antibody candidate, MCLA-117, is being developed in a Phase 1/ 2
clinical trial in patients with acute myeloid leukemia. The Company also has a
pipeline of proprietary bispecific antibody candidates in preclinical
development, including MCLA-158, which is designed to bind to cancer stem cells
and is being developed as a potential treatment for colorectal cancer and other
solid tumors, and Biclonics® designed to bind to various combinations of
immunomodulatory molecules, including PD-1 and PD-L1.

Forward Looking Statement
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements contained
in this press release that do not relate to matters of historical fact should
be considered forward-looking statements, including without limitation
statements regarding the impact of management personnel on our business, our
expansion into the United States and execution of our business strategy, and
the treatment potential for bispecific antibody candidates.

These forward-looking statements are based on management’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 out 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®
technology; potential difficulties in validating and 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’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.

These and other important factors discussed under the caption “Risk Factors” in
our final prospectus filed with the Securities and Exchange Commission, or SEC,
on May 20, 2016 relating to our Registration Statement on Form F-1, 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
press release. Any such forward-looking statements represent management’s
estimates as of the date of this press release. 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 press release.

Merus N.V.
Shelley Margetson -
+31 (0)30 253 8800

Argot Partners
Kimberly Minarovich -

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