Genmab to Acquire ProfoundBio for Enhancing its Oncology Portfolio
Shots:
- Genmab has signed a definitive agreement to acquire ProfoundBio for an aggregate of $1.8B in cash to strengthen its oncology portfolio. The transaction will conclude in H1’24
- Through the acquisition, Genmab gains global rights to ProfoundBio’s ADC portfolio comprising 3 clinical & various preclinical candidates such as rinatabart sesutecan (Rina-S). Additionally, ProfoundBio's ADC technology will be combined with Genmab's Ab platforms for developing products to treat cancer
- Rina-S, FRα targeting Topo1 ADC, is under P-II of P-I/II trial to treat ovarian cancer & other solid tumors. It received the US FDA’s FTD in Jan 2024 to treat FRα-expressing high-grade serous or endometrioid Pt-resistant ovarian cancer
Ref: Genmab | Image: Genmab
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
