Genmab Buys Ovarian Cancer Drug Developer for $1.8 Billion [BNN Bloomberg (Canada)]
Genmab A/S - American Depositary Shares (GMAB)
Company Research
Source: BNN Bloomberg
Genmab will pay cash in the transaction, which has been approved by both companies' boards, the Copenhagen-based pharmaceutical firm said in a statement on Wednesday. Genmab, which has been looking for new drug candidates following its success with bone cancer treatment Darzalex, sees the deal adding to its mid-to-late-stage clinical pipeline and giving the company access to potential treatments for gynecologic cancer. Genmab said it plans to broaden the development plans for Seattle-based ProfoundBio's Rina-S product, which targets ovarian cancer. The deal is expected to close in the first half of 2024, Genmab said. ©2024 Bloomberg L.P.
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News
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