ProfoundBio Announces $1.8 Billion Acquisition by Genmab
San Diego – April 3, 2024 – Cooley advised ProfoundBio, a clinical-stage biotechnology company developing novel antibody-drug conjugate therapeutics for patients with cancer, on its definitive agreement to be acquired for $1.8 billion in an all-cash transaction by Genmab (NASDAQ: GMAB), a dual-listed, international biotechnology company that creates and develops differentiated antibody therapeutics to fight against cancer and other serious diseases.
Lawyers Rama Padmanabhan, Patrick Loofbourrow, Rowook Park, Ruomu Li and Jenny Ge led the Cooley team advising ProfoundBio.
Cooley has represented ProfoundBio as its primary outside counsel through all of its capital-raising transactions since early 2020 and advised ProfoundBio on its oversubscribed $112 million Series B in February 2024.
This deal further highlights Cooley’s cross-border mergers and acquisitions team’s involvement in high- profile life sciences deals on a worldwide scale, with seamlessly integrated teamwork across the firm’s global offices.
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