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ProfoundBio Discovers The Joys Of Having A Wealthy Owner (NASDAQ:GMAB)
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The deal will give Genmab worldwide rights to ProfoundBio’s portfolio of next-generation antibody-drug conjugates (ADCs).
Investors might not have been overly excited, but Genmab A/S executives enthused about the “complementarity” of its proposed acquisition of antibody-drug conjugate (ADC) specialist Profoundbio Inc. for $1.8 billion in cash. The deal, expected to close in the first half of 2024, marks the biggest by far for the Copenhagen, Denmark-based biopharma and the latest transaction for the red hot ADC space.
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