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  6. Genmab Acquires ProfoundBio

M&A Deal Summary

Genmab Acquires ProfoundBio

On April 3, 2024, Genmab acquired life science company ProfoundBio for 1.8B USD

Acquisition Highlights
  • This is Genmab’s 1st transaction in the Life Science sector.
  • This is Genmab’s 2nd largest (disclosed) transaction.
  • This is Genmab’s 1st transaction in the United States.
  • This is Genmab’s 1st transaction in Washington.

M&A Deal Summary
Date 2024-04-03
Target ProfoundBio
Sector Life Science
Buyer(s) Genmab
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) BofA Securities
Morgan Stanley (Financial)
Cooley
Jun He Law (Legal)

Target

ProfoundBio

Seattle, Washington, United States
ProfoundBio is a clinical-stage biotechnology company developing next-generation ADCs and ADC technologies for the treatment of certain cancers, including ovarian cancer and other FRα-expressing solid tumors. ProfoundBio is based in Seattle, Washington.

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Buyer(S) 1

Buyer

Genmab

Copenhagen, Denmark
Category Company
Founded 1999
Sector Life Science
Employees2,639
Revenue 3.0B USD (2024)
DESCRIPTION

Genmab is an international biotechnology company using its antibody technology platform to offer bispecific T-cell engagers, next-generation immune checkpoint modulators, effector function-enhanced antibodies, and antibody-drug conjugates. Genmab was formed in 1999 and is headquartered in Copenhagen, Denmark.

DEAL STATS #
Overall 1 of 2
Sector: Life Science M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 2
State: Washington M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2024 M&A 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-29 Merus

Utrecht, Netherlands

Merus BV is a fully-integrated biotechnology company developing cancer therapeutics that combine the benefits of monoclonal antibodies with the ability of simultaneously addressing multiple targets. Merus was founded in 2003 and is based in Utercht, Netherlands.

Buy $8.0B
Mergr

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