AbbVie agreed to acquire Apogee Therapeutics for about $10.9 billion, adding long-acting immunology assets to bolster its inflammatory disease portfolio. Apogee’s lead program, zumilokibart (APG777), is an IL-13 antibody in development for atopic dermatitis and asthma, with additional pipeline combinations planned. The deal is structured in cash at $135.11 per share, representing a roughly 50% premium to Apogee’s prior closing price. The transaction comes after Apogee’s recent clinical progress in atopic dermatitis, where company-reported Phase 2 results showed meaningful skin clearance at 16 weeks. For AbbVie, the acquisition is positioned as a way to extend immunology growth ahead of expected biosimilar or competitive pressure on blockbuster revenues. The company also highlighted the long-interval dosing potential of the IL-13 asset as a differentiator, pointing to a schedule that could improve patient adherence. For Apogee, the takeout provides near-term liquidity while transferring late-stage development and commercialization responsibilities to a company with scale in immunology manufacturing and global commercial infrastructure.