Abbvie pads immunology pipeline in $10.9B Apogee buy

Source Summary

In a deal viewed as a big win for both companies, Abbvie Inc. is buying Apogee Therapeutics Inc. for $10.9 billion. The transaction calls for shareholders of Apogee to receive $135.11 per share in cash, marking a nearly 50% premium over Friday’s closing stock price, and puts lead candidate zumilokibart, a late-stage, half-life extended monoclonal antibody targeting IL-13 that has shown competitive phase II data in atopic dermatitis, in the hands of a pharma giant with a well-established immunology franchise.