Backed by Novo, Johnson & Johnson, Novartis and Pfizer, the immuno-oncology drug developer was previously reported in April 2015 to be seeking a $105m offering.

Merus, a Netherlands-based cancer treatment developer backed by pharmaceutical firms Novartis, Novo, Pfizer and Johnson & Johnson, has filed for a $60m initial public offering on Nasdaq.

Founded in 2003, Merus is working on antibodies which are able to simultaneously prevent cancer cells from growing and activate the body’s own immune system to target the tumours.

The proceeds from the IPO will support completion of a phase 1/2 clinical trial for a treatment for solid tumours. Additional capital will…