AbbVie (NYSE: ABBV) completed its acquisition of Apogee Therapeutics on September 3, 2026, paying USD 135.11 per share in cash for a total equity value of approximately USD 10.9 billion. The deal adds a clinical-stage immunology pipeline spanning atopic dermatitis (AD), asthma, and chronic obstructive pulmonary disease (COPD) to AbbVie's existing portfolio, which already includes risankizumab (Skyrizi) and upadacitinib (Rinvoq).
The transaction was structured as an all-cash acquisition of all outstanding Apogee common stock, with no disclosed milestone payments or contingent value rights. Both boards had unanimously approved the deal, announced in June 2026, and Apogee's Nasdaq listing ceased prior to market open on the closing date.
The primary asset is zumilokibart (APG777), a subcutaneous, half-life extended anti-IL-13 monoclonal antibody in development for moderate-to-severe AD. In the Phase II APEX trial, approximately two-thirds of patients on treatment achieved significant skin clearance at 16 weeks; longer-term maintenance data supported quarterly or twice-yearly dosing regimens. Phase III initiation in AD is planned for the second half of 2026. The dosing interval is the principal differentiation: dupilumab (Dupixent, Sanofi/Regeneron) and tralokinumab (Adbry/Adtralza, Leo Pharma), the most direct competitors in the IL-4/IL-13 pathway space, require biweekly or monthly injections in maintenance. Sanofi's amlitelimab, an OX40L inhibitor with a 12-week dosing interval in Phase III, represents a separate next-generation rival in the same market.