Biotech Giant Genmab to Acquire Seattle Company and LSW Institute WIN Graduate Profound Bio in $1.8B Deal

Seattle-based biotech company ProfoundBio, specializing in drugs for ovarian and endometrial cancers, will be acquired by Danish firm Genmab in a $1.8 billion all-cash deal, expected to close in the first half of this year. Known for antibody-drug conjugates, the company has garnered a $112 million investment earlier this year. ProfoundBio is led by CEO Baiteng Zhao, a former associate director at Seagen.