Genmab Completes Acquisition of ProfoundBio
Genmab has completed its $1.8 billion acquisition of ProfoundBio, a clinical-stage biotechnology company developing next-generation antibody-drug conjugates (ADCs) and ADC technologies for the treatment of cancers.
With the transaction, Genmab will broaden its mid- to late-stage clinical pipeline and complement its suite of proprietary technology platforms, the company said. The acquisition will give Genmab worldwide rights to ProfoundBio’s ADC portfolio, which consists of three clinical and multiple preclinical programs including Rina-S, a potential best-in-class, clinical-stage, FRα-targeted, Topo1 ADC, currently in Phase 2 of a Phase 1/2 clinical trial, for the treatment of ovarian cancer and other FRα-expressing solid tumors.
In addition, Genmab expects the combination of ProfoundBio's novel ADC technology platforms with its proprietary antibody platforms to create new opportunities for the generation and development of novel anti-cancer drugs.
Jan van de Winkel, Genmab’s president and CEO, said: “We look forward to unlocking new opportunities as we strengthen our oncology portfolio and continue to work towards our goal of transforming the lives of patients with innovative antibody medicines.”
