Danish drugmaker Genmab has announced its plans to acquire ProfoundBio, an antibody-drug conjugate (ADC) platform developer, in an all-cash transaction worth $1.8 billion. The acquisition is expected to be completed in the first half of 2024 and aims to bolster Genmab's mid- to late-stage clinical pipeline. As part of the deal, Genmab will gain worldwide rights to three candidates in clinical development. The lead candidate from ProfoundBio, Rina-S, is a Phase II Topo1 ADC that targets folate receptor alpha (FRĪ±) to treat ovarian cancer and other solid tumors. The acquisition also includes ProfoundBio's ADC technology platforms, which have the potential to develop new cancer treatments. This acquisition follows other recent acquisitions in the ADC space, including Eli Lilly's purchase of Mablink Bioscience, Pfizer's acquisition of Seagen, and AbbVie's acquisition of ImmunoGen. Genmab reported a net profit of DKK 4 billion ($582 million) in 2023, with a year-on-year revenue increase to DKK 16 billion ($2.3 billion) in the same year.
In a separate development, MediLink Therapeutics has announced a new strategic collaboration with BioNTech SE, expanding their existing partnership. Under the agreement, BioNTech will receive an exclusive option to an exclusive global license to apply MediLink's TMALINĀ® antibody-drug conjugate (ADC) platform. In October 2023, MediLink and BioNTech entered into a strategic collaboration and global license agreement to develop BNT326/YL202, a next-generation anti-HER3 ADC. The expansion of the collaboration further strengthens the strategic partnership between MediLink and BioNTech. MediLink will receive an upfront payment and is eligible for additional milestone payments potentially totaling up to $1.8 billion, as well as royalties on potential future global annual net sales.
These developments highlight the growing interest and investment in the ADC space, as pharmaceutical companies seek to expand their oncology portfolios and develop innovative treatments for cancer patients. Genmab's acquisition of ProfoundBio will enhance its position in the gynecologic oncology space and solid tumors, while MediLink's expanded partnership with BioNTech will enable the development of new ADC therapies. Both companies are aiming to make a significant impact on the lives of patients through their respective ADC platforms.
Life sciences company Aptamer Group has signed two contracts for the development of its Optimer binders, with a combined total value of up to Ā£235,000. The first contract, valued at up to Ā£175,000, is with a top five pharmaceutical company. Aptamer will develop Optimer binders for use in immunohistochemistry (IHC) applications. The second deal, valued at up to Ā£60,000, is with a global provider of specialty enzymes used widely throughout the life sciences sector. Aptamer will develop Optimer binders as novel reagents to be incorporated into the partnerās life science and diagnostic assay kits. Aptamer stands to earn milestone payments and royalties from the gross sales of all kits containing the developed Optimer. The repeat business from another top-five pharma partner validates the power of the Optimer platform. The company's new business model aims to develop a diversified pipeline of technologies to deliver license agreements across the life science sector.
Sources:
- Danish drugmaker Genmab to acquire ProfoundBio
- MediLink Therapeutics expands strategic partnership with BioNTech
- Aptamer Group signs contracts with top pharmaceutical company