On April 3, 2024, Genmab A/S and ProfoundBio, Inc. announced that the companies have entered into a definitive agreement for Genmab to acquire ProfoundBio in an all-cash transaction. ProfoundBio is a privately-owned 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. Wilson Sonsini Goodrich and Rosati advised ProfoundBio on patent matters related to the transaction.

Genmab will acquire ProfoundBio for $1.8 billion in cash, payable at closing. The proposed transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in the first half of 2024, and is subject to the satisfaction of customary closing conditions. 

The Wilson Sonsini team that advised ProfoundBio on patent matters related to the transaction includes Julia Minitti, Feng Tian, Hee Min Noh, and Jose Martinez.

For more information, please see ProfoundBio’s press release.