Genmab To Acquire ProfoundBio For $1.8B Cash, Enhancing And Expanding Its Oncology Portfolio
Portfolio Pulse from Benzinga Newsdesk
Genmab is set to acquire ProfoundBio for $1.8 billion in cash, aiming to enhance its oncology portfolio. This acquisition grants Genmab worldwide rights to three clinical candidates, including Rina-S, and ProfoundBio's ADC technology platforms. Rina-S, a novel Topo1 ADC, targets FRα for ovarian cancer and other solid tumors treatment. A conference call is scheduled to discuss the acquisition.
April 03, 2024 | 5:42 am
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Genmab's acquisition of ProfoundBio for $1.8 billion in cash is expected to significantly enhance its oncology portfolio with three clinical candidates and ADC technology.
The acquisition of ProfoundBio by Genmab is a strategic move to enhance its oncology portfolio, which is likely to be viewed positively by investors. The addition of three clinical candidates, including the promising Rina-S, and novel ADC technology platforms, positions Genmab for potential growth in the oncology sector. This could lead to increased investor confidence and a positive short-term impact on Genmab's stock price.
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