ProfoundBio

ProfoundBio is a clinical-stage biotechnology company focused on developing novel antibody-drug conjugate (ADC) therapies for cancer patients . Founded in 2018, the company built a pipeline of ADC candidates targeting solid tumors and hematologic malignancies through internally developed, proprietary technology platforms . Its disclosed programs include Rina-S (PRO1184), a folate receptor α-targeting ADC; PRO1160, targeting CD70; PRO1107, targeting PKT7; and PRO1286, a bispecific ADC . The company raised over $55 million in Series A funding in 2021, co-led by Lilly Asia Ventures and LYFE Capital, followed by a $70 million Series A+ in 2022 led by Sequoia China, bringing total funding to nearly $140 million . In April 2024, Genmab acquired ProfoundBio for $1.8 billion in cash . Gaorong Ventures, which invested in ProfoundBio's Pre-A and A rounds, described the acquisition as a landmark transaction for the biopharma industry .