AbbVie completes $10.9 billion acquisition of Apogee Therapeutics

AbbVie has completed its acquisition of Apogee Therapeutics to bolster its immunology and inflammation pipeline. The deal, valued at approximately $10.9 billion, involved Apogee shareholders receiving $135.11 in cash per share.

The acquisition focuses on long-acting antibody programs targeting dermatologic and respiratory diseases, including asthma and chronic obstructive pulmonary disease (COPD). A key asset in the transaction is zumilokibart, a late-stage monoclonal antibody designed to inhibit interleukin-13 (IL-13).

Clinical data for zumilokibart showed that approximately two-thirds of patients achieved significant skin clearance at 16 weeks in Phase 2 trials. The program is designed for sustained drug exposure, potentially allowing for less frequent dosing schedules, such as every three months or twice annually.