Genmab A/S (CPSE:GMAB) entered into a definitive agreement to acquire ProfoundBio, Inc. for $1.8 billion on April 3, 2024. Genmab will acquire ProfoundBio for $1.8 billion on cash and debt free basis. The transaction is funded through existing cash on hand, Genmab maintains significant balance sheet flexibility. The proposed transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in the first half of 2024. The closing of the proposed transaction is subject to the satisfaction of customary closing conditions.

Goldman Sachs International is acting as sole financial advisor to Genmab in this transaction. Clare O?Brien, Derrick Lott, JB Betker, Ben Gris, Mike Walsh, Larry Crouch, Jason ?Jake? Pratt, Jeff Hoschander, Jonathan Cheng, and Matthew Behrens of Shearman & Sterling LLP, Jingyuan Shi, Ruina Liu, Jenny Liu, Yanyu Lai, Yuchen Lai, Donia Chu, Cecilia Tsang and Rachel Tang of Simmons & Simmons LLP and Kromann Reumert are legal advisors for Genmab. BofA Securities, Inc. and Morgan Stanley & Co. LLC are acting as financial advisors to ProfoundBio in this transaction and Rama Padmanabhan, Patrick Loofbourrow, Rowook Park, Ruomu Li and Jenny Ge of Cooley LLP, Travers Thorp Alberga and Jun He Law Offices, Julia L. Minitti of Wilson Sonsini Goodrich & Rosati, P.C. are its legal advisors for ProfoundBio.

Genmab A/S (CPSE:GMAB) completed the acquisition of ProfoundBio, Inc. on May 21, 2024.