GMAB - Genmab Acquires A Missing Piece For Its Pipeline
2024-04-16 11:20:38 ET
Summary
- Genmab will acquire ProfoundBio for $1.8 billion in cash.
- The acquisition adds an important antibody drug conjugate ('ADC') platform, a missing piece in Genmab's platform.
- Genmab plans to advance ProfoundBio's lead candidate, Rina-S, to registrational trials with a potential approval as early as 2027.
- Rina-S has generated promising efficacy and safety in an early stage clinical trial in patients with ovarian and endometrial cancer.
- The ADC market is increasingly crowded, but an important market Genmab needs to expand into.
Genmab ( GMAB ) made a very bold move earlier this month by announcing the acquisition of ProfoundBio for $1.8 billion in cash. The future is never certain, but I really like this acquisition and believe it adds an important piece to Genmab’s technology and drug development platform that was missing – the antibody drug conjugate (‘ADC’) platform. The ADC field is getting increasingly crowded, but I believe having an ADC platform will be necessary for companies like Genmab if they are to be competitive and create shareholder value in the medium and long-term....
Genmab Acquires A Missing Piece For Its Pipeline