AbbVie to acquire Apogee Therapeutics in $10.9B deal

AbbVie announced Monday it will acquire Apogee Therapeutics, a biotechnology company with operations in Waltham, in a deal valued at about $10.9 billion. Neither company has stated whether Apogee will be moving out of Waltham following the acquisition. 

The North Chicago, Illinois-based drugmaker said it will pay $135.11 per share in cash for Apogee, which is developing new treatments for inflammatory diseases such as eczema and asthma. The deal is expected to close in the third quarter of 2026, pending shareholder and regulatory approval.

Apogee’s leading drug candidate, called zumilokibart, is designed to block a protein in the body that drives inflammation. The treatment is being studied for atopic dermatitis, commonly known as eczema. In mid-stage clinical trials, about two-thirds of patients saw clearer skin and less itching after 16 weeks.

The company is also developing a combination therapy for asthma that targets two key triggers of lung inflammation. Early studies suggest the treatment could be given as infrequently as twice a year.

AbbVie said the acquisition will strengthen its portfolio of immune-related treatments and expand its presence in respiratory diseases.

Company executives said the deal could help bring new treatment options to patients while delivering long-term value to shareholders.