Genmab Completes Acquisition of ProfoundBio
Genmab A/S - American Depositary Shares (GMAB)
Company Research
Source: Business Wire
Genmab has completed acquisition of ProfoundBio for USD 1.8 billion in cashAcquisition gives Genmab worldwide rights to three candidates in clinical development, including rinatabart sesutecan (Rina-S), plus ProfoundBio’s novel antibody-drug conjugate technology platforms COPENHAGEN, Denmark--(BUSINESS WIRE)--Genmab A/S (Nasdaq: GMAB) announced today that it has completed its acquisition of ProfoundBio, Inc., a clinical-stage biotechnology company developing next-generation antibody-drug conjugates (ADC)s and ADC technologies for the treatment of cancers in an all-cash transaction of USD 1.8 billion (subject to adjustment for ProfoundBio’s closing net debt and transaction expenses).“With the completion of this strategic transaction, we are excited to welcome our new colleagues and their expertise in developing next-generation antibody-drug conjugates to our exceptionally talented R&D team,” said Jan van de Winkel, Ph.D., President and Chief Executive Officer of Genmab. “We look for
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