Genmab acquires biotechnology company ProfoundBio in $1.8bn deal [Yahoo! Finance]
Genmab A/S - American Depositary Shares (GMAB)
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Source: Yahoo! Finance
ProfoundBio specialises in the development of antibody-drug conjugates (ADCs) and technologies for cancer treatment. The latest development comes after the companies signed a definitive agreement for the acquisition in April 2024. Genmab obtained global rights to ProfoundBio's portfolio of next-generation ADCs, significantly bolstering its clinical pipeline. These programmes include Rina-S, an ADC being analysed in Part II of a Phase I/II clinical trial to treat ovarian cancer and other FRa-expressing solid tumours. The ongoing Phase I/II clinical trial data suggests that Rina-S could serve a wider patient demographic than the first-generation FRa-targeted ADCs. Genmab is planning to expand the development of Rina-S within ovarian cancer and other FRa-expressing solid tumours based on these findings. In January 2024, Rina-S received fast-track designation from the US Food and Drug Administration (FDA) to treat patients with FRa-expressing high-grade serous or endometrioid
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News
- Genmab A/S (NASDAQ: GMAB) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.MarketBeat
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- Investigational Rinatabart Sesutecan (Rina-S) Shows Promising Anti-Tumor Activity as Single Agent in Heavily Pretreated Patients with Ovarian and Endometrial Cancers in Phase 1/2 Clinical TrialBusiness Wire
- Genmab A/S (NASDAQ: GMAB) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.MarketBeat
- Genmab A/S (NASDAQ: GMAB) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $31.00 price target on the stock.MarketBeat