Genmab continued to expand its presence in the antibody-drug conjugate (ADC) field with a deal to buy ProfoundBio for $1.8 billion in cash. The transaction will give Genmab three clinical programmes, including the FRα-targeted, Topo1 ADC rinatabart sesutecan (Rina-S).
Jan van de Winkel, CEO of Genmab, noted that the purchase “firmly aligns with our long-term strategy,” adding that “ProfoundBio’s ADC candidates, proprietary technology platforms and talented team will be a great addition.” The transaction is expected to close this quarter.