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).
Genmab Adds To Sector ADC Buying Spree With $1.8bn ProfoundBio Acquisition
The buyout reflects the Danish biotech’s plans to expand in oncology drug development and commercialization.
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