RE: Genmab3 Apr 2024 09:47
Shame Genmab didn't like what Scancell has available to offer....unless a price couldn't be agreed. One day ! Interesting that they are a private company, could Genmab justify the price tag to their shareholders if they were trading for 10p and a market cap of 95million ?? No wonder companies like Redex delist .
SEATTLE, Washington; April 3, 2024 – Genmab A/S (Nasdaq: GMAB) and ProfoundBio, Inc. announced today 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. Genmab will acquire ProfoundBio for USD 1.8 billion in cash, payable at closing (subject to adjustment for ProfoundBio’s closing net debt and transaction expenses).