AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in cash, betting on zumilokibart (APG777), a long-acting monoclonal antibody targeting IL-13. The deal values Apogee at $135.11 per share and is structured to extend AbbVie’s immunology portfolio ahead of anticipated Humira biosimilar pressure. Apogee’s lead asset is in clinical development for atopic dermatitis and asthma, with the company highlighting Phase 2 APEX results that included meaningful improvements in skin clearance and itch outcomes at 16 weeks. AbbVie says zumilokibart could be dosed two to four times per year after initiation, positioning it as a differentiator in chronic inflammatory disease. The transaction also underscores renewed pharma appetite for de-risked, late-stage immunology assets and provides Apogee shareholders a premium while moving a late-phase program closer to Phase 3 execution under a major commercial platform.