Press Release

ProfoundBio Announces $1.8 Billion Acquisition by Genmab

April 3, 2024

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.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has more than 1,300 lawyers across 19 offices in the United States, Asia and Europe, and a total workforce of nearly 3,000.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.