Genmab Adds More ADC Firepower With $1.8B ProfoundBio Acquisition

Genmab has acquired ProfoundBio for $1.8 billion, adding three clinical-stage antibody drug conjugates to their pipeline. ProfoundBio’s lead program, Rina-S, targets folate receptor alpha and has shown promising results in ovarian and endometrial cancer patients. Analysts believe Rina-S could be a strong competitor in the ADC space, potentially offering better safety than existing drugs. Genmab already has a presence in ADCs through partnerships, with Tivdak and Epkinly already FDA approved. The acquisition of ProfoundBio is expected to accelerate the development of innovative antibody therapies for cancer patients. The deal is set to close by the end of June.

Source link

error: Content is protected !!