Minhua Chu, Managing Partner at Transition Value Partner, shared a post on X:
“GMAB has stopped development of an early-stage PTK7-targeted ADC GEN1107 (PRO1107) that it swooped up in its $1.8 billion acquisition of ProfoundBio last year.
The Danish biopharma ended clinical development of GEN1107, or PRO1107, ‘as the overall benefit-risk profile no longer supports continuation,’ the company said Monday in an update to the Phase 1/2 trial registry.
A Genmab spokesperson confirmed the decision.
GEN1107 is one of multiple programs listed in a lawsuit brought by ABBV earlier this year. The Chicago-area pharma giant is suing Genmab in federal court, alleging that ProfoundBio used proprietary information from one of AbbVie’s former scientists to create its ADCs. Genmab has refuted the allegations.
The Genmab spokesperson declined to comment on the litigation.”
More from Minhua Chu on OncoDaily.