Genmab axes ADC from $1.8B ProfoundBio buyout over safety concerns

Genmab has discontinued GEN1107, a PTK7-targeted antibody-drug conjugate, due to an inadequate benefit-risk profile after early-phase testing in solid tumors.

Why it matters: The move narrows Genmab's ADC pipeline just a year after its $1.8B acquisition of ProfoundBio and comes as the company defends itself in a lawsuit over trade secret theft related to these assets.

Backstory: GEN1107 was one of three clinical-stage ADCs Genmab acquired in 2024. The phase 1/2 trial began in January 2024 but was halted by August 2025 after enrolling 33 patients with various advanced cancers.

Big picture: Despite the setback, Genmab is doubling down on the other two acquired ADCs, Rina-S and GEN1160, and remains active in the competitive FRα and CD70-targeting oncology markets, including against giants like AbbVie. GEN1160 is being studied in renal cell carcinoma, nasopharyngeal carcinoma, and lymphoma.