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.

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