Genmab Abandons ADC Asset Acquired in $1.8B ProfoundBio Deal

Genmab completed the $1.8 billion acquisition of ProfoundBio, gaining worldwide rights to its pipeline of next-generation antibody-drug conjugates (ADCs), which included three clinical-stage candidates such as Rina-S, geared toward ovarian and other FRα-expressing solid tumors13.

The transaction was finalized in May 2024, and expanded Genmab’s oncology portfolio while creating opportunities to combine ProfoundBio’s ADC platforms with Genmab’s proprietary antibody technology3.

Rina-S, the flagship ADC, had previously received FDA Fast Track designation for platinum-resistant ovarian cancer and was in Phase 1/2 trials at the time of acquisition13.

No available sources explicitly report that Genmab has officially "ditched" or discontinued any ADC assets acquired via the ProfoundBio purchase; all recent news confirms Genmab’s intention to advance and broaden these programs, particularly Rina-S, within its clinical development plans34.

If news about Genmab abandoning a specific ADC asset from the ProfoundBio acquisition has emerged recently, it is not reflected in the cited coverage—public accounts up to May 2024 consistently describe ongoing development and integration of these ADC programs into Genmab’s pipeline134.

Sources:

1. https://chemanager-online.com/en/news/genmab-to-acquire-profoundbio-for-1-8-billion

3. https://www.biospace.com/genmab-completes-acquisition-of-profoundbio

4. https://www.pharmtech.com/view/genmab-expands-adc-pipeline-with-1-8-billion-acquisition-of-profoundbio