Jun. 22 at 10:58 AM
$ABCL
Biotech M&A Just the start in my opinion,
$ABBV
is closing in on a nearly
$11B cash deal to buy Apogee Therapeutics, per FT.
The discussed deal would value
$APGE
at
$10.9B, roughly a 60% premium to Thursday’s close, and could be announced as soon as Today.
Apogee’s lead drug, zumilokibart, is being developed as a longer-acting alternative to Dupixent, with dosing studied every 3 to 6 months vs. Dupixent’s every 2 weeks.
Apogee plans to start a Phase 3 trial in atopic dermatitis later this year.
