ProfoundBio

What ProfoundBio does

ProfoundBio was a clinical-stage biotechnology company founded in 2017 and headquartered in Seattle, Washington, developing antibody-drug conjugate (ADC) therapeutics for solid tumors and hematological malignancies. The company's pipeline was built on a proprietary ADC platform leveraging topoisomerase I inhibitor payloads, with its lead candidate Rina-S (rinatabart sesutecan) advancing into a pivotal Phase 3 trial for platinum-resistant ovarian cancer and receiving FDA Breakthrough Therapy Designation for advanced endometrial cancer on the basis of Phase 1/2 RAINFOL-01 trial data showing a 50% confirmed objective response rate in heavily pretreated patients. Other clinical-stage assets at acquisition included PRO1160, PRO1107, and PRO1286, each targeting different cancer indications.

The company's go-to-market model was pre-commercial: it generated no product revenue and instead advanced pipeline candidates through clinical trials to regulatory approval, with future distribution intended via pharmaceutical wholesale and specialty pharmacy channels to oncology treatment centers. Marketing activities centered on scientific conference presentations and peer-reviewed publications rather than traditional selling. ProfoundBio raised approximately $237 million in private capital across multiple rounds, including a $10 million seed in February 2021, an oversubscribed $55 million Series A in July 2021 led by Lilly Asia Ventures with Sequoia Capital China and Oriza, a $70 million Series A extension in June 2022 led by HSG, and a $112 million oversubscribed Series B in February 2024 led by Ally Bridge Group with participation from RA Capital Management, OrbiMed, Medicxi, and LifeSci Venture Partners.

In May 2024, ProfoundBio was acquired by Genmab A/S for $1.8 billion to strengthen Genmab's position in targeted cancer therapies, particularly within the topoisomerase I inhibitor segment projected to reach $7.31 billion by 2030. Following the acquisition, Genmab has pruned the ProfoundBio-derived pipeline: PRO1160 and PRO1107 were discontinued in November 2025 for slow enrollment and benefit-risk reasons, and PRO1286 was terminated in May 2026 after enrolling only 23 of an anticipated 260 patients due to an unfavorable benefit-risk profile, leaving Rina-S as the sole remaining asset in active Phase 3 development for endometrial and ovarian cancers.

Name

ProfoundBio

Legal name

ProfoundBio

Website

https://profoundbio.com

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

101–250 employees

Short description

ProfoundBio was a Seattle-based clinical-stage biotech developing antibody-drug conjugate (ADC) therapeutics for cancer, with lead asset Rina-S in Phase 3 trials for ovarian and endometrial cancers under FDA Breakthrough Therapy Designation. Acquired by Genmab A/S for $1.8 billion in May 2024.

Ownership category

akta.pro rank

Product category

Oncology Biopharmaceuticals - Antibody-Drug Conjugates

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

Keywords

• Antibody-drug conjugates
• Oncology therapeutics
• Cancer drug development
• Clinical-stage biopharmaceuticals
• Immuno-oncology treatments

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations

Revenue model

1. Acquisition Proceeds: ProfoundBio was acquired by Genmab for $1.8 billion in May 2024, representing the primary exit mechanism for investors and the company's transaction value.
2. Pipeline Development and Potential Commercialization: Pre-commercial biotech with clinical-stage ADC pipeline including Rina-S, PRO1160, PRO1107, and PRO1286 targeting various cancers. Revenue potential from future drug approvals and commercialization.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

ProfoundBio was a clinical-stage biopharmaceutical company developing antibody-drug conjugate (ADC) therapeutics intended for cancer patients. Its core offering centered on Rina-S (rinatabart sesutecan), an ADC targeting ovarian and endometrial cancers, currently in pivotal Phase 3 trials with FDA Breakthrough Therapy Designation. The company leveraged a proprietary ADC platform combining monoclonal antibodies with topoisomerase I inhibitor payloads to selectively deliver cytotoxic agents to cancer cells, addressing both solid tumors and hematological malignancies.

Product overview

ProfoundBio was a clinical-stage biotech company specializing in antibody-drug conjugate (ADC) therapeutics for cancer treatment. The company's product portfolio centered on its proprietary ADC platform targeting topoisomerase I inhibitors for solid tumors and hematological malignancies. Key products included Rina-S (rinatabart sesutecan) for ovarian and endometrial cancers, and earlier-stage ADC candidates PRO1160, PRO1107, and PRO1286. ProfoundBio operated with a pipeline approach, advancing multiple clinical and preclinical programs simultaneously. Following Genmab's $1.8 billion acquisition in May 2024, the ADC assets were integrated into Genmab's oncology portfolio, with Rina-S continuing as the lead asset in Phase 3 trials.

Differentiator

Problem solved

Functional benefit

Products and services

• Rina-S (rinatabart sesutecan) Clinical-stage antibody-drug conjugate (ADC) targeting cancer cells in ovarian and endometrial cancers. Currently in Phase 3 trials, with FDA Breakthrough Therapy Designation granted for advanced endometrial cancer, intended for oncologists, hospitals, and cancer treatment centers treating solid tumors.

Quantifiable outcome

• 50% confirmed objective response rate in heavily pretreated patients with advanced endometrial cancer

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• GenmabflagshipStrategic or Co-development Partner · 1 May 2024Genmab acquired ProfoundBio for $1.8 billion in May 2024, integrating ProfoundBio's ADC pipeline including Rina-S into Genmab's portfolio for future commercialization.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Daiichi Sankyo: Japanese pharma that pioneered topoisomerase I inhibitor-based ADCs (Enhertu with AstraZeneca, Dato-DXd). Directly comparable to ProfoundBio as the dominant player in the same topoisomerase I ADC payload class that Rina-S leverages.
• ImmunoGen (AbbVie): ADC-focused company acquired by AbbVie for $10.1B; developed Elahere, an FRα-directed ADC for ovarian cancer — a directly competing indication with Rina-S. Closest clinical-stage and commercial comparator in the ovarian ADC space.
• ADC Therapeutics: Clinical and commercial-stage ADC company with approved products (Zynlonta) and a pipeline of topoisomerase and pyrrolobenzodiazepine-based ADCs targeting hematologic and solid tumors. Comparable in scale, business model, and technology class to ProfoundBio.
• Mersana Therapeutics: Clinical-stage ADC company developing novel payload and linker technologies (Dolasynthen platform) for oncology. Comparable as a platform-focused ADC biotech with multiple clinical programs targeting solid tumors.
• Sutro Biopharma: Clinical-stage ADC developer with proprietary cell-free protein synthesis platform; advancing multiple ADC candidates including luvelta. Comparable as a platform-based ADC biotech with clinical assets in oncology.

Emerging players

• Bolt Biotherapeutics: Clinical-stage biotech developing immune-stimulating ADCs (ISACs) combining tumor-targeting antibodies with immune agonists. Comparable as an emerging ADC platform company with oncology focus, though differentiated by immune-stimulating payload mechanism.
• Tubulis: European ADC developer focused on differentiated payload and linker chemistry for solid tumors. Comparable as an emerging ADC platform company targeting similar oncology indications, though earlier-stage than ProfoundBio's lead asset.

Broad incumbents

• Genmab A/S: ProfoundBio's parent company following the $1.8B acquisition; a leading antibody therapeutics company with approved products (Darzalex, Tepezza) and a broad ADC platform. Functions both as parent and a relevant comparable for ADC pipeline development at scale.
• Pfizer (Seagen): Acquired Seagen for $43B in 2023, establishing a leading ADC franchise including Adcetris and Padcev. Comparable as a major incumbent with deep ADC capabilities across both hematologic malignancies and solid tumors.
• AbbVie: Acquired ImmunoGen for $10.1B to secure Elahere, an FRα-directed ADC directly competing with Rina-S in ovarian cancer. Comparable as a large oncology incumbent now leading the most directly competitive ADC asset to ProfoundBio's lead program.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/profoundbio

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds4 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ProfoundBio