Genmab to Broaden and Strengthen Oncology Portfolio with Acquisition of ProfoundBio [Yahoo! Finance]
Genmab A/S - American Depositary Shares (GMAB)
Company Research
Source: Yahoo! Finance
Acquisition will give Genmab worldwide rights to three candidates in clinical development, including rinatabart sesutecan (Rina-S), plus ProfoundBio's novel antibody-drug conjugate (ADC) technology platforms Rina-S is a novel, next-generation, potential best-in-class Topo1 ADC targeting folate receptor alpha (FRa) in development for the treatment of ovarian cancer and other solid tumors Genmab to host conference call today at 1:00 PM CEST / 12:00 PM BST / 7:00 AM EDT COPENHAGEN, Denmark and SEATTLE, Washington; April 3, 2024 – Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction. ProfoundBio is a privately-owned clinical-stage biotechnology company developing next-generation ADCs and ADC technologies for the treatment of certain cancers, including ovarian cancer and other FRa-expressing solid tumors. Genmab will acquire ProfoundBio for USD 1.8 bill
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