Genmab, a biotechnology company, completed the acquisition of ProfoundBio, a clinical-stage biotechnology company, for $1.8bn. "With the completion of this strategic transaction, we are excited to welcome our new colleagues and their expertise in developing next-generation antibody-drug conjugates to our exceptionally talented R&D team. We look forward to unlocking new opportunities as we strengthen our oncology portfolio and continue to work towards our goal of transforming the lives of patients with innovative antibody medicines,” Jan van de Winkel, Genmab President and CEO.