Windows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallCrashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteGenmab agreed to acquire Seattle-based biotechnology company ProfoundBio for USD 1.8 billion in announced cash consideration on April 3, 2024. The transaction closed on May 21, 2024, making ProfoundBio a wholly owned Genmab subsidiary. The deal gave Genmab worldwide rights to three clinical-stage drug candidates, several preclinical programs and ProfoundBio’s antibody-drug-conjugate technology platforms.
What Genmab acquired
ProfoundBio was developing antibody-drug conjugates (ADCs), medicines designed to deliver cancer-killing drugs to cells using antibodies that target particular markers. Genmab said the acquisition would broaden its mid- to late-stage clinical pipeline and bring ProfoundBio’s ADC platforms together with Genmab’s proprietary antibody platforms. That was the company’s stated strategic rationale, not a guarantee of clinical or commercial success.
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
|
Biotechnology | $101.99 | Buy on Amazon |
| 2 |
|
Basic Laboratory Methods for Biotechnology: Textbook and Laboratory Reference | $95.33 | Buy on Amazon |
| 3 |
|
Introduction to Biotechnology, Global Edition | $68.56 | Buy on Amazon |
| 4 |
|
Biotechnology: The Technological Applications of Genetics and Genomics | $141.90 | Buy on Amazon |
| 5 |
|
Introduction to Biotechnology (What's New in Biology) | $242.49 | Buy on Amazon |
- Worldwide rights to three clinical-stage candidates.
- Multiple preclinical programs.
- ProfoundBio’s ADC technology platforms.
The lead candidate was rinatabart sesutecan, or Rina-S. At the time of the announcement, Genmab described it as a folate receptor alpha (FRα)-targeted, topoisomerase 1 (Topo1) ADC being studied for ovarian cancer and other FRα-expressing solid tumors. It was in Phase 2 of a Phase 1/2 study. Genmab also said the U.S. Food and Drug Administration had granted Rina-S Fast Track designation in January 2024 for patients with FRα-expressing high-grade serous or endometrioid platinum-resistant ovarian cancer. These are announcement-era development details, not a statement of the candidate’s current trial status.
What the $1.8 billion figure means
Genmab announced an all-cash headline price of USD 1.8 billion. The cash consideration was payable at closing and subject to adjustments for ProfoundBio’s closing net debt and transaction expenses. It is useful to distinguish that deal announcement figure from later accounting measures in Genmab’s SEC-filed 2024 reporting:
Quick wins for a faster PC:
Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →#1 Best Overall
| Figure | What it represents |
|---|---|
| USD 1.8 billion | Announced cash consideration for the acquisition, subject to the specified closing adjustments. |
| USD 1.905 billion | Total consideration reported in Genmab’s 2024 SEC-filed acquisition accounting, including equity compensation. |
| USD 1.783 billion | Cash used for the acquisition in that filing, after subtracting cash acquired. |
The accounting totals use different measures from the announced headline price, so they should not be treated as revised versions of the same figure. Genmab’s April 3, 2024 announcement set out the transaction terms; its 2024 SEC-filed interim financial reporting provides the later accounting figures.
Did Genmab complete the acquisition?
Yes. Genmab announced completion on May 21, 2024, and ProfoundBio became a wholly owned subsidiary. The completion announcement was filed with the SEC.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the deal mattered to Genmab
The acquisition added clinical-stage and earlier-stage oncology programs as well as technology platforms, rather than just one drug candidate. Genmab said that broadening its mid- to late-stage pipeline and combining the companies’ antibody and ADC capabilities aligned with its long-term strategy. The acquired medicines remained investigational; the transaction itself did not establish that Rina-S or another program would succeed in trials or reach the market.
In the April 3, 2024 announcement, Genmab President and CEO Jan van de Winkel said: “The proposed acquisition of ProfoundBio firmly aligns with our long-term strategy and our ambitious 2030 vision, to impact the lives of patients through innovative antibody medicines.”
Quick Recap
Rank #3
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
