Genmab to buy ProfoundBio, picking up targeted chemotherapies

LONDON — The Danish firm Genmab said Wednesday it would acquire ProfoundBio for $1.8 billion in cash, the latest in a string of 10-figure deals tied to the booming field of targeted chemotherapies. 

The purchase will give Genmab ProfoundBio’s three drug candidates in trials, including one called Rina-S that is in a Phase 2 study for ovarian cancer, as well as preclinical programs. Rina-S is also being explored as a therapy in other solid tumors.

ProfoundBio is a privately held, Seattle-based biotech. It had most recently announced a $112 million Series B round in February.