USA

Construction at the MTC is currently underway and is scheduled for completion during the first half of 2027.

GEN1160 now joins GEN1107 on Genmab’s list of discontinued assets from the April 2024 ProfoundBio acquisition.

The pharmaceutical giant will pay USD221.50 per share in cash to purchase the US biotech company, which has developed an innovative platform called drug-Fc conjugates (DFCs).

A company spokesperson explained that Moderna has “prioritized our pipeline and R&D investments as part of our broader cost efficiency efforts,” though the company provided no additional details about the specific discontinuations.

The new facility will produce molecules for medical trials. These expansions will create 200 additional jobs in Frederick and 100 more in Gaithersburg.