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Genmab Adds To Sector ADC Buying Spree With $1.8bn ProfoundBio Acquisition

 
• By Andrew McConaghie

The buyout reflects the Danish biotech’s plans to expand in oncology drug development and commercialization.

Genmab Office Copenhagen - close up

Genmab is to acquire privately-owned ProfoundBio in an all-cash transaction worth $1.8bn which will bolster its pipeline with early and mid-stage antibody drug conjugates (ADCs).

The Denmark-headquartered firm’s announcement on 3 April is just the latest in a string of deals seeing established biopharmas snapping up ADC companies and assets, making the space one of the most dynamic in the sector

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