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Pruning tree branches. Gloved hands hold a branch and cutting shears, the gardener takes care of the park. Vector illustration.

Genmab Prunes Another ADC From $1.8B ProfoundBio Acquisition

Only one clinical-stage asset from the ProfoundBio acquisition remains in development: The antibody-drug conjugate Rina-S, in late-stage studies for ovarian and endometrial cancer.

November 18, 2025

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2 min read

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Tristan Manalac

BioForest

Genmab to Broaden and Strengthen Oncology Portfolio with Acquisition of ProfoundBio

Genmab A/S and ProfoundBio, Inc. announced that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction.

April 3, 2024

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8 min read

Deals

Genmab Completes Acquisition of ProfoundBio

Genmab A/S announced that it has completed its acquisition of ProfoundBio, Inc., a clinical-stage biotechnology company developing next-generation antibody-drug conjugates s and ADC technologies for the treatment of cancers in an all-cash transaction of USD 1.8 billion.

May 21, 2024

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5 min read

Pictured: Businessmen shaking hands after closing a deal

Deals

Genmab Leans into Hot ADC Space with $1.8B ProfoundBio Acquisition

Genmab announced Wednesday it is buying ProfoundBio and its pipeline of next-generation antibody-drug conjugates being developed for gynecologic cancers and other solid tumors.

April 3, 2024

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2 min read

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Tristan Manalac

Pictured: 3D rendering of antibody-drug conjugate/

BioForest

ADC-Focused ProfoundBio Raises $112M in Oversubscribed Series B

The latest round of funding for Seattle-based ProfoundBio will go towards advancing its one preclinical and three clinical antibody-drug conjugate candidates.

February 14, 2024

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2 min read

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Tyler Patchen

Paper torn and revealing dollar bill. Financial investment and cash income

Legal

AbbVie Lawsuit Alleges That Partner Genmab “Misappropriated” Trade Secrets

AbbVie claims that Genmab turned a blind eye to trade secret theft allegedly used to support the development of ProfoundBio’s investigational antibody-drug conjugates. Genmab acquired ProfoundBio in May 2024.

March 24, 2025

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2 min read

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Tristan Manalac

FDA

ProfoundBio Announces Rinatabart Sesutecan FDA Fast Track Designation for Patients with Advanced Ovarian Cancer

ProfoundBio today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for rinatabart sesutecan (Rina-S; PRO1184).

January 5, 2024

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3 min read

BioForest

ProfoundBio to Present Data on Multiple Preclinical Programs From Its Antibody-Drug Conjugate Pipeline at the American Association for Cancer Research Annual Meeting 2024

ProfoundBio today announced its participation at the upcoming American Association for Cancer Research (AACR) Annual Meeting 2024, taking place from April 5-10 in San Diego, California.

April 4, 2024

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5 min read

BioForest

ProfoundBio to Participate in upcoming RBC Capital Markets and JP Morgan Healthcare Conferences

ProfoundBio announced that management will be participating in one-on-one meetings with investors at the 2023 RBC Capital Markets Healthcare Private Company Conference, being held virtually December 13-14, 2023.

December 5, 2023

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1 min read

BioForest

ProfoundBio Raises $112 Million in Oversubscribed Series B Equity Financing to Advance its Clinical-Stage Antibody-Drug Conjugate (ADC) Pipeline

ProfoundBio announced an oversubscribed $112 million Series B financing supported by a syndicate of top healthcare dedicated and mutual fund institutional investors.

February 13, 2024

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7 min read