Gen­mab fu­els AD­C­s' hot streak with $1.8B buy­out of Pro­found­Bio

Dan­ish an­ti­body spe­cial­ist Gen­mab is pay­ing $1.8 bil­lion in cash to scoop up Pro­found­Bio and throw its hat in­to the packed an­ti­body-drug con­ju­gate ring.

Pro­found­Bio brings to the ta­ble three clin­i­cal can­di­dates gen­er­at­ed on its tech­nol­o­gy plat­form, in­clud­ing a Phase 2 ADC be­ing test­ed to treat ovar­i­an can­cer and oth­er sol­id tu­mors ex­press­ing fo­late re­cep­tor al­pha (FRα). The ac­qui­si­tion comes just two months af­ter the Seat­tle-based biotech raised $112 mil­lion to take the lead com­pound in­to a piv­otal study.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER