Abbvie Inc (NYSE:ABBV) announced that it will acquire Apogee Therapeutics (NASDAQ:APGE) in an all-cash transaction valued at approximately $10.9 billion, adding a pipeline of clinical-stage therapies for inflammatory and immunological diseases, including atopic dermatitis and asthma.
Under the terms of the definitive agreement announced Sunday, AbbVie will acquire all outstanding Apogee shares for $135.11 per share in cash.
The boards of directors of both companies unanimously approved the deal, which is expected to close in the third quarter of 2026, subject to customary closing conditions, including regulatory clearances and approval by Apogee shareholders.
The acquisition will bring several clinical-stage candidates into AbbVie’s immunology portfolio. Apogee’s lead asset, zumilokibart (APG777), is a half-life extended monoclonal antibody targeting interleukin-13 (IL-13) that is being developed for atopic dermatitis.
The company said Phase 2 results showed roughly two-thirds of treated patients achieved significant skin clearance after 16 weeks, with improvements in itch reduction and disease control. Longer-term data also supported quarterly or twice-yearly maintenance dosing.
Apogee is also developing APG273, a combination therapy consisting of zumilokibart and APG333, an anti-TSLP antibody, for asthma. Phase 1 data indicated APG333 maintained suppression of type 2 inflammatory markers for up to six months after dosing.
AbbVie said the acquisition complements its existing immunology business and is expected to strengthen its presence in respiratory diseases.
The company expects the transaction to be accretive to adjusted diluted earnings per share beginning in 2032.
Shares of AbbVie added 4.5% at $226 on the news, while Apogee shares surged 47% to about $133.
