Tuesday, June 23, 2026

AbbVie to acquire Apogee and expand immunology pipeline

AbbVie has signed a definitive agreement to acquire Apogee Therapeutics, adding a clinical-stage immunology pipeline with programs in dermatologic, respiratory and related inflammatory diseases. The transaction is intended to strengthen AbbVie's immunology business and increase its clinical presence in respiratory indications.

Under the agreement, AbbVie will buy all outstanding Apogee shares for $135.11 per share in cash. The deal values Apogee at an equity value of approximately $10.9 billion. The boards of both companies have unanimously approved the transaction. Closing is expected in the third quarter of 2026, subject to customary conditions, including Apogee shareholder approval and regulatory clearances.

Lead program targets atopic dermatitis

Apogee's most advanced asset is zumilokibart, also known as APG777. It is a subcutaneous, half-life extended monoclonal antibody directed at IL-13. The program is being developed first for patients with atopic dermatitis.

According to the companies, zumilokibart generated clinically meaningful findings in a Phase 2 trial. Around two thirds of treated patients achieved significant skin clearance at week 16. Improvements in itch and overall disease control were also reported. Longer-term results from the same study support potential maintenance schedules with quarterly or twice-yearly dosing.

Asthma combination in development

Apogee's pipeline also includes APG273, a combination of zumilokibart and APG333. APG333 is an antibody that targets TSLP, a signaling protein involved early in lung inflammation. The combination is being developed for asthma.

Phase 1 data for APG333 showed a long half-life and suppression of relevant type 2 inflammatory markers for up to six months, according to the announcement. Together with positive interim Phase 1b results for zumilokibart in asthma, the data support further development of APG273 with potential quarterly or twice-yearly injections.

Fit with AbbVie's immunology strategy

The planned acquisition builds on AbbVie's established immunology franchise. Apogee's assets add clinical-stage programs in atopic dermatitis and asthma and may give AbbVie additional options across inflammatory and immunological diseases.

AbbVie expects the proposed acquisition to become accretive to adjusted diluted earnings per share beginning in 2032. The deal remains subject to regulatory review, Apogee shareholder approval and other standard closing conditions.

Transaction advisers

Morgan Stanley is acting as AbbVie's financial adviser, with Paul, Weiss, Rifkind, Wharton & Garrison serving as legal adviser. Apogee is advised financially by Jefferies and Goldman Sachs, while Kirkland & Ellis is serving as legal adviser.