About Profound Bio
Profound Bio is a Healthcare company based in Woodinville (United States) founded in 2018, and was acquired by Genmab in April 2024. Novel cancer therapies are developed via antibody-drug conjugates. Profound Bio has raised $237 million across 3 funding rounds from investors including Genmab, T. Rowe Price and Citadel. Its chief executive, as recorded, is Baiteng Zhao. Its focus areas include Life Sciences, Oncology, Drugs and Diversified. Its legal entity is ProfoundBio US Co. Its competitors include Revolution Medicines, Blueprint Medicines and Syndax; 3 of its 3 listed competitors have raised funding.
Company details
Profound Bio was founded in 2018 and is based in Woodinville, United States. Operations focus on the biotechnology sector, where novel therapies for cancer treatment are developed. Emphasis is placed on chemistry, manufacturing, and controls (CMC) for antibody-drug conjugates. These conjugates are engineered to target and kill tumor cells, promote cell rejuvenation, stimulate collagen production, and inhibit collagen degradation processes.
- Headquarters Woodinville, United States
- Stage Acquired
- SectorsHealthcare
- Email••••••••
- Website profoundbio.com
- Social LinkedIn
- Acquired by Genmab (Apr 2024)
- Legal Name Profoundbio Us Co
Funding Insights of Profound Bio
Profound Bio has successfully raised a total of $237M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $112 million completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $237M
- Total Rounds 3
- Last Round Series B — $112M
- First Round $55M
(Jul 2021)
- Investors Count 20
All 3 funding rounds of Profound Bio with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2024 | $112M | Series B | – | Nextech Invest, Janus Henderson Investors | |
| Jun 2022 | $70M | Series A | – | – | |
| Jul 2021 | $55M | Series A | – | Lilly Asia Ventures, LYFE Capital |
21 investors in total: 21 institutional.
Investors in Profound Bio
Profound Bio has secured backing from 21 investors, including venture fund and institutional investors. Prominent investors backing the company include Genmab, T. Rowe Price and Citadel.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
PE firm investing in the US | nextechinvest.com | Zurich, Switzerland | ||
Multiple sectors are targeted for venture capital investments. | 1934 | janushenderson.com | London, United Kingdom | |
Investments are made by OrbiMed in global healthcare innovations across biopharmaceuticals and related fields. | 1989 | orbimed.com | New York, United States | |
Private equity and hedge fund investments in healthcare are managed. | ally-bridge.com | Hong Kong, China | ||
Early-stage life science focused VC firm investing in geographies such as Europe and the US | medicxi.com | London, United Kingdom | ||
Private equity fund focused on the biotechnology sector | logoscapital.com | San Francisco, United States | ||
Investments in healthcare startups are managed by Octagon Capital Advisors. | octagoninvestments.com | New York, United States | ||
Healthcare startups are funded by this corporate-backed venture capital entity. | lifesciventure.com | New York, United States | ||
LYFE Capital is recognized as a premier healthcare investment platform. | lyfecapital.com | Menlo Park, USA | ||
Early-stage VC investments in Chinese tech startups are focused on. | k2vc.com | Beijing, China |
Investor details for Profound Bio
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People of Profound Bio
1 people are tracked at Profound Bio (1 in leadership).
| Name | Role | Group |
|---|---|---|
Baiteng Zhao | CEO | Leadership |
Complete people profiles for Profound Bio
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Timeline of Profound Bio
4 dated milestones of Profound Bio across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Profound Bio is founded.
- Funding First funding round of $55.0M.
- Funding Latest funding round, Series B, of $112.0M.
- Exit Acquired by Genmab.
Competitors of Profound Bio
Profound Bio has 3 listed competitors in our database, 3 of them funded. They include Revolution Medicines, Blueprint Medicines and Syndax.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| revmed.com | 2014 | Redwood, United States | $326.29M | 181 | Cancer therapies are developed using selective pathway inhibitors. | |
| blueprintmedicines.com | 2008 | Cambridge, United States | $115M | 201 | Selective kinase inhibitors are developed for genomically defined cancers. | |
| syndax.com | 2005 | Waltham, United States | $198.29M | 107 | Targeted therapies for cancer treatment are developed. |
Detailed competitors of Profound Bio
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Top companies in Immunology & Cancer Therapeutics
3 companies that operate in the same segment as Profound Bio (Immunology & Cancer Therapeutics) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
mRNA-based therapeutics for diseases including cancer and infections are developed. | 2010 | Cambridge, Massachusetts, United States | USD 2.78 B | USD 1.94 B | 5,800 | |
Targeted and immune-oncology drugs for cancer treatment are developed. | 2010 | Cambridge, Massachusetts, United States | USD 172 M | |||
Immuno-modulatory therapies for dementia and neurodegenerative disorders are developed. | 2013 | San Francisco, California, United States | USD 214.78 M | USD 21.05 M | 211 |
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Frequently Asked Questions about Profound Bio
Profound Bio was founded in 2018 and raised its 1st funding round 3 years after it was founded.
Profound Bio is headquartered in Woodinville, United States. It is registered at Woodinville, Washington, United States.
Baiteng Zhao is the CEO of Profound Bio, as recorded in our data.
Profound Bio is a funded company, having raised a total of $237M across 3 funding rounds to date. The company's 1st funding round was a Series A of $55M, raised on Jul 2021.
Profound Bio was founded in 2018 and is based in Woodinville, United States. Operations focus on the biotechnology sector, where novel therapies for cancer treatment are developed. Emphasis is placed on chemistry, manufacturing, and controls (CMC) for antibody-drug conjugates. These conjugates are engineered to target and kill tumor cells, promote cell rejuvenation, stimulate collagen production, and inhibit collagen degradation processes.
Profound Bio's top competitors include Syndax, Revolution Medicines and Blueprint Medicines.
Profound Bio has 21 investors. Key investors include Genmab, T. Rowe Price, Citadel, Orbimed, and Janus Henderson Investors.
Profound Bio operates through Profoundbio Us Co.
Yes. Profound Bio was acquired by Genmab in April 2024.