With $1.8B ProfoundBio deal, Genmab gains chance to market ‘100% owned’ product

Genmab’s $1.8 billion acquisition of ProfoundBio sets up the Danish antibody company for what could become a new chapter in its history, in which the 25-year-old biotech commercializes a wholly-owned product for the first time.

The deal will give Genmab A/S (CSE:GMAB; NASDAQ:GMAB) an antibody-drug conjugate platform and three clinical programs. The most advanced is rinatabart sesutecan (Rina-S), which targets FOLR1 to treat ovarian cancer; Genmab hopes to begin a pivotal trial next year, and bring the ADC to market in 2027...