💊 The deal includes three ADCs in clinical trials, including rinatabart sesutecan, an ADC targeting ovarian and other cancers.
🏭 The acquisition is expected to close in the first half of the year, subject to regulatory approvals.
🚀 Genmab aims to accelerate the development of innovative antibody therapies for cancer patients.
Introduction:
Genmab, a Danish pharmaceutical company, has announced its acquisition of ProfoundBio, a privately held biotech company, for $1.8bn in cash. The acquisition will allow Genmab to access ProfoundBio’s portfolio of antibody-drug conjugates (ADCs) and accelerate the development of innovative antibody therapies for cancer patients.
- Genmab will acquire ProfoundBio for $1.8bn in cash to deepen its cancer pipeline with next-generation antibody-drug conjugate therapies.
- The acquisition will give Genmab access to ProfoundBio’s portfolio of ADCs, including rinatabart sesutecan (Rina-S), which is currently in Phase II clinical trials.
- Genmab will also gain access to ProfoundBio’s other pipeline assets, including CD70-targeting PRO1106 and PTK7-targeting PRO1107.
- The acquisition is expected to close in the first half of this year, pending regulatory and antitrust approvals.
- Genmab’s acquisition of ProfoundBio will help the company become a major player in the ADC space and further expand its partnerships in the industry.
Conclusion:
Genmab’s acquisition of ProfoundBio for $1.8bn in cash will strengthen its cancer pipeline with next-generation ADC therapies. This acquisition will enable Genmab to accelerate the development of innovative and differentiated antibody therapies for cancer patients. The deal is expected to close in the first half of this year, subject to regulatory and antitrust approvals. With this acquisition, Genmab will become a significant player in the ADC space and continue to expand its partnerships in the industry.
