Genmab bulks ADC pipeline with $1.8-billion purchase of ProfoundBio
03 Apr 2024
Drug ApprovalADCPhase 2AcquisitionPhase 1
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).
The therapy, also known as PRO1184, is currently in Phase II development for the treatment of ovarian cancer and other FRα-expressing solid tumoursFRα-expressing solid tumours. ProfoundBio’s pipeline also includes the CD70-targeted ADC PRO1160 and another dubbed PRO1107 that targets PTK7.
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.
Genmab already has an ADC partnership with Seagen, which produced the drug Tivdak (tisotumab vedotin-tftv) approved by the FDA in 2021 as a treatment for cervical cancer. The company also has a collaboration with ADC Therapeutics and another agreement with Synaffix for its ADC technologies.
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