Biotech giant Genmab to acquire Seattle company ProfoundBio in $1.8B deal

Seattle-based biotech company ProfoundBio, specializing in drugs for ovarian and endometrial cancers, will be acquired by Danish firm Genmab in a $1.8 billion all-cash deal, expected to close in the first half of this year. Known for antibody-drug conjugates, the company has garnered a $112 million investment earlier this year. ProfoundBio is led by CEO Baiteng Zhao, a former associate director at Seagen.

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