Shearman & Sterling is advising Genmab A/S, an international biotechnology company based in Copenhagen, Denmark, on its proposed acquisition of ProfoundBio, a privately-owned Seattle-based clinical-stage biotechnology company developing next-generation ADCs and ADC technologies for the treatment of certain cancers, for $1.8 billion, payable in cash at closing.
The proposed transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first half of 2024, subject to the satisfaction of customary closing conditions.
The transaction was announced on April 3, 2024 in a press release.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.