Life Science Washington Institute Recognizes ProfoundBio Co-Founders with 2024 Entrepreneurial Achievement Award
Life Science Washington Institute (LSWI) has awarded the 2024 Entrepreneurial Achievement Award to Dr. Baiteng Zhao and Dr. Tae H. Han, co-founders of ProfoundBio. The award recognizes their significant contributions to life science innovations and economic development in Washington state. ProfoundBio, founded in 2020, focused on developing antibody-drug conjugates (ADCs) for cancer treatment. In just four years, the company advanced multiple ADC candidates into clinical trials and secured $250 million in funding, including a $112 million Series B round in February 2024.
ProfoundBio was recently acquired by Genmab A/S (Nasdaq: GMAB) for approximately $1.8 billion in cash, marking one of the top life science deals in 2024. Dr. Zhao and Dr. Han are graduates of LSWI's Washington Innovation Network (WIN) mentoring program, which has supported 102 ventures that have collectively raised over $3.2 billion. The award highlights the success of Washington's life sciences ecosystem in fostering homegrown talent and innovation.
Il Life Science Washington Institute (LSWI) ha conferito il Premio per il Successo Imprenditoriale 2024 al Dr. Baiteng Zhao e al Dr. Tae H. Han, co-fondatori di ProfoundBio. Il premio riconosce i loro significativi contributi alle innovazioni nelle scienze della vita e allo sviluppo economico nello stato di Washington. ProfoundBio, fondata nel 2020, si è concentrata sullo sviluppo di coniugati farmaco-anticorpo (ADC) per il trattamento del cancro. In soli quattro anni, l'azienda ha fatto progredire diversi candidati ADC in studi clinici e ha ottenuto 250 milioni di dollari in finanziamenti, incluso un round di Serie B da 112 milioni di dollari nel febbraio 2024.
ProfoundBio è stata recentemente acquisita da Genmab A/S (Nasdaq: GMAB) per circa 1,8 miliardi di dollari in contante, segnando uno dei principali accordi nel campo delle scienze della vita nel 2024. Il Dr. Zhao e il Dr. Han sono laureati del programma di mentoring Washington Innovation Network (WIN) di LSWI, che ha supportato 102 iniziative che hanno raccolto oltre 3,2 miliardi di dollari complessivamente. Il premio mette in risalto il successo dell'ecosistema delle scienze della vita del Washington nel promuovere talenti e innovazioni locali.
El Instituto Life Science Washington (LSWI) ha otorgado el Premio al Logro Empresarial 2024 al Dr. Baiteng Zhao y al Dr. Tae H. Han, cofundadores de ProfoundBio. El premio reconoce sus importantes contribuciones a las innovaciones en ciencias biológicas y al desarrollo económico en el estado de Washington. ProfoundBio, fundada en 2020, se centró en el desarrollo de conjugados anticuerpo-fármaco (ADC) para el tratamiento del cáncer. En solo cuatro años, la compañía ha avanzado múltiples candidatos de ADC a ensayos clínicos y ha asegurado 250 millones de dólares en financiamiento, incluido un ronda de Serie B de 112 millones de dólares en febrero de 2024.
Recientemente, ProfoundBio fue adquirida por Genmab A/S (Nasdaq: GMAB) por aproximadamente 1.8 mil millones de dólares en efectivo, marcando uno de los principales acuerdos en ciencias biológicas en 2024. El Dr. Zhao y el Dr. Han son graduados del programa de mentoría Washington Innovation Network (WIN) de LSWI, que ha apoyado a 102 empresas que han recaudado colectivamente más de 3.2 mil millones de dólares. El premio destaca el éxito del ecosistema de ciencias biológicas de Washington en promover el talento y la innovación local.
라이프 사이언스 워싱턴 연구소(LSWI)가 ProfoundBio의 공동 창립자인 Dr. Baiteng Zhao와 Dr. Tae H. Han에게 2024 기업가 성취 상을 수여했습니다. 이 상은 워싱턴 주의 생명 과학 혁신 및 경제 발전에 대한 그들의 중요한 기여를 인정합니다. 2020년에 설립된 ProfoundBio는 암 치료를 위해 항체-약물 접합체(ADC)를 개발하는 데 주력했습니다. 불과 4년 만에 이 회사는 여러 ADC 후보를 임상 시험으로 진행했으며 2억 5천만 달러의 자금을 확보했습니다. 여기에는 2024년 2월에 실시한 1억 1천 2백만 달러 시리즈 B 라운드가 포함됩니다.
ProfoundBio는 최근 Genmab A/S(Nasdaq: GMAB)에 약 18억 달러 현금으로 인수되었으며, 2024년에 생명 과학 분야에서 가장 주목할 만한 거래 중 하나로 기록되었습니다. Zhao 박사와 Han 박사는 LSWI의 워싱턴 혁신 네트워크(WIN) 멘토링 프로그램의 졸업생으로, 이 프로그램은 총 32억 달러 이상을 조달한 102개의 사업을 지원했습니다. 이 상은 캘리포니아의 생명 과학 생태계가 지역 인재와 혁신을 육성하는 데 성공한 것을 강조합니다.
Le Life Science Washington Institute (LSWI) a décerné le Prix d'Excellence Entrepreneuriale 2024 au Dr. Baiteng Zhao et au Dr. Tae H. Han, co-fondateurs de ProfoundBio. Ce prix reconnaît leurs contributions significatives aux innovations dans les sciences de la vie et au développement économique dans l'État de Washington. ProfoundBio, fondée en 2020, s'est concentrée sur le développement de conjugués anticorps-médicament (ADC) pour le traitement du cancer. En seulement quatre ans, l'entreprise a fait progresser plusieurs candidats ADC vers des essais cliniques et a sécurisé 250 millions de dollars de financement, y compris une levée de fonds de Série B de 112 millions de dollars en février 2024.
ProfoundBio a récemment été acquise par Genmab A/S (Nasdaq : GMAB) pour environ 1,8 milliard de dollars en espèces, marquant l'un des principaux accords dans les sciences de la vie en 2024. Le Dr Zhao et le Dr Han sont diplômés du programme de mentorat Washington Innovation Network (WIN) de LSWI, qui a soutenu 102 entreprises ayant collectivement levé plus de 3,2 milliards de dollars. Le prix met en avant le succès de l'écosystème des sciences de la vie de Washington dans la promotion des talents et des innovations locaux.
Das Life Science Washington Institute (LSWI) hat den 2024 Entrepreneurial Achievement Award an Dr. Baiteng Zhao und Dr. Tae H. Han, Mitbegründer von ProfoundBio, verliehen. Die Auszeichnung würdigt ihre wesentlichen Beiträge zu Innovationen in den Lebenswissenschaften und zur wirtschaftlichen Entwicklung im Bundesstaat Washington. ProfoundBio, gegründet im Jahr 2020, konzentrierte sich auf die Entwicklung von Antikörper-Wirkstoff-Konjugaten (ADC) zur Behandlung von Krebs. In nur vier Jahren hat das Unternehmen mehrere ADC-Kandidaten in klinische Studien gebracht und 250 Millionen Dollar an Finanzierungen gesichert, einschließlich einer 112 Millionen Dollar Serie B-Runde im Februar 2024.
ProfoundBio wurde kürzlich von Genmab A/S (Nasdaq: GMAB) für etwa 1,8 Milliarden Dollar in bar übernommen, was einen der bedeutendsten Deals in den Lebenswissenschaften im Jahr 2024 markiert. Dr. Zhao und Dr. Han sind Absolventen des Mentoring-Programms Washington Innovation Network (WIN) von LSWI, das 102 Unternehmungen unterstützt hat, die gemeinsam über 3,2 Milliarden Dollar eingenommen haben. Die Auszeichnung hebt den Erfolg des Lebenswissenschafts-Ökosystems in Washington hervor, das lokale Talente und Innovationen fördert.
- ProfoundBio secured $250 million in funding, including a $112 million Series B round
- Genmab A/S (GMAB) acquired ProfoundBio for approximately $1.8 billion in cash
- ProfoundBio advanced multiple ADC candidates into clinical trials in just four years
- The acquisition marks one of the top life science deals in 2024
- None.
ProfoundBio co-founders Dr. Baiteng Zhao and Dr. Tae H. Han recognized for building the state’s most valuable life science company in less than a decade
Dr. Baiteng Zhao and Dr. Tae H. Han receives the 2024 Entrepreneurial Achievement Award (Photo: Business Wire)
LSWI is honoring Dr. Zhao and Dr. Han for their significant contributions to advancing life science innovations. Following their tenure at another homegrown
“ProfoundBio, founded and led by Baiteng Zhao and Tae Han, had nothing short of an astounding year and we are thrilled to recognize them as the winner of this year’s Entrepreneurial Achievement award,” said Richard Giersch, Executive Director of Life Science Washington Institute. “ProfoundBio is a powerful example of how Washington’s life sciences ecosystem continues to thrive as talented leaders remain in the region, build new companies, and drive innovation. The company was able to develop such strong investor interest and ultimately be acquired because of its innovative proprietary technology platforms and a robust pipeline of drug candidates. This team is incredibly deserving of this award for their scientific and entrepreneurial accomplishments.”
Dr. Zhao and Dr. Han are proud graduates of LSWI’s Washington Innovation Network (WIN) mentoring program, participating from 2019-2020. Celebrating 10 years of impact this year, WIN has had 102 ventures participate, with 43 graduates collectively raising over
The ProfoundBio journey exemplifies the power of the WIN program and highlights how Washington’s life sciences ecosystem continues to thrive. By fostering homegrown talent and innovation, WIN plays a key role in ensuring
“We’re honored to receive this year’s Entrepreneurial Achievement Award and accept it on behalf of the ProfoundBio team. We are now a part of the inspiring group of award winners, all of us with a common vision and commitment to improving patient lives,” said Dr. Zhao and Dr. Han. “Seattle is a special place to grow companies like ProfoundBio. We have a collaborative ecosystem, top talent, and supportive programs that help entrepreneurs bring lifesaving medicines to patients faster. In addition, we are grateful for the WIN program as it helped us during the initial phase of the company to be sure ProfoundBio was being built the right way for success. We look forward to seeing and contributing to the next chapter of life sciences innovation here in
Hear more from ProfoundBio and other WIN participants in a Life Science Washington Institute video:
https://vimeo.com/873842986.
About Life Science Washington Institute
Life Science Washington Institute, “Where Entrepreneurs Come First,” is driven by a mission of three closely connected goals: to launch life sciences companies, mentor entrepreneurs, and connect companies and entrepreneurs to resources they need. It is an essential part of
About Life Science Washington
Life Science Washington connects its 500+ members to each other and to funding, talent, partners and essential business services and elevates the industry by promoting policies that strengthen the environment for ground-breaking research and product development that improves and saves lives. For more information, visit https://lifesciencewa.org/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241011784140/en/
Media Contact
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Source: Life Science Washington Institute
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