AbbVie to Acquire Apogee Therapeutics in $10.9 Billion Deal to Strengthen Immunology Pipeline

AbbVie and Apogee Therapeutics have announced a definitive agreement under which AbbVie will acquire Apogee and its portfolio of clinical-stage therapies focused on inflammatory and immunological diseases.

The acquisition is expected to strengthen AbbVie’s position in immunology while also expanding its clinical presence in respiratory diseases. Apogee’s pipeline includes multiple investigational therapies being developed for conditions such as atopic dermatitis (AD) and asthma, areas where significant patient needs still remain.

Deal Valued at Approximately $10.9 Billion

Under the terms of the agreement, AbbVie will acquire all outstanding shares of Apogee for $135.11 per share in cash.

The transaction gives Apogee an overall equity valuation of approximately $10.9 billion. AbbVie expects the acquisition to contribute positively to its adjusted diluted earnings per share beginning in 2032.

Both companies' boards of directors have unanimously approved the transaction. The deal is expected to close during the third quarter of 2026, subject to shareholder approval, regulatory clearances, and other customary closing conditions.

AbbVie Looks to Build on Its Immunology Leadership

AbbVie believes the acquisition will further strengthen its long-established leadership in immunology.

Robert A. Michael, Chairman and Chief Executive Officer of AbbVie, said the company has spent more than two decades advancing treatments for complex immune-mediated diseases.

According to Michael, Apogee’s clinical-stage pipeline adds highly differentiated assets that can help address unmet patient needs in areas such as atopic dermatitis and asthma. He also noted that AbbVie’s scientific expertise and global development capabilities position the company to accelerate these programs and potentially expand treatment options for patients.

Zumilokibart Emerges as a Key Asset in the Acquisition

One of the most important assets included in the acquisition is zumilokibart (APG777), a subcutaneous monoclonal antibody targeting interleukin-13 (IL-13).

IL-13 is considered a major driver of type 2 inflammation and plays a significant role in diseases such as atopic dermatitis and asthma.

In atopic dermatitis, many patients continue to struggle with persistent itching and incomplete skin clearance despite available treatments. Zumilokibart is being developed to address these challenges while offering less frequent dosing schedules.

Phase 2 Results Show Encouraging Outcomes

According to Apogee, zumilokibart delivered strong results in a Phase 2 clinical trial involving patients with atopic dermatitis.

Approximately two-thirds of treated patients achieved meaningful skin clearance after 16 weeks of treatment. The study also demonstrated notable improvements in itch reduction and overall disease control.

Long-term data from the trial suggest that maintenance treatment could potentially be administered as infrequently as once every three months or even twice a year, offering greater convenience for patients.

The safety profile observed so far has been consistent with other therapies in the same class, with no unexpected concerns reported.

APG273 Targets Asthma Through Dual Inflammatory Pathways

Beyond zumilokibart, Apogee has developed a broader portfolio of antibody-based therapies designed to target multiple inflammatory pathways.

Among them is APG273, a combination therapy that brings together zumilokibart and APG333.

APG333 targets thymic stromal lymphopoietin (TSLP), a signaling protein involved in triggering inflammation in the lungs. Early Phase 1 data showed that APG333 demonstrated a long half-life and maintained suppression of important inflammatory markers for up to six months after dosing.

Positive interim findings from a Phase 1b asthma study involving zumilokibart, combined with APG333 data, support the potential of APG273 as a long-acting treatment option for asthma with quarterly or twice-yearly dosing schedules.

Apogee Highlights Value Creation and Future Potential

Michael Henderson, Chief Executive Officer of Apogee Therapeutics, described the transaction as a reflection of the company's progress since its founding.

He noted that the acquisition recognizes the strength of Apogee’s scientific platform and the advancement of its lead programs. Henderson also expressed confidence that AbbVie’s global development and commercialization capabilities can help maximize the potential of the company’s pipeline and broaden access to future therapies for patients worldwide.

Shareholder Support and Closing Timeline

The proposed acquisition remains subject to customary closing requirements, including regulatory approvals and approval from Apogee shareholders.

Fairmount Funds Management LLC and Venrock Associates have already entered into voting agreements supporting the transaction.

Once completed, AbbVie will assume responsibility for the development, manufacturing, and global commercialization of Apogee’s pipeline, further expanding its presence across immunology, respiratory medicine, and inflammatory disease treatment.

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