AbbVie agreed to buy Apogee Therapeutics for $10.9 billion in cash, a move aimed at bolstering AbbVie’s immunology pipeline with long-acting assets including zumilokibart, an IL-13 inhibitor being tested in atopic dermatitis. The deal is structured to give Apogee shareholders $135.11 per share, a roughly 50% premium. Apogee’s APEX Phase 2 program reported positive 16-week Part B results in moderate-to-severe atopic dermatitis, with EASI-75 rates of 65.9% in the mid-dose arm (41.9% placebo adjusted). AbbVie’s strategy also positions the IL-13 program as a potential challenger based on dosing frequency, which Apogee says could be every three or six months after start. The acquisition continues a broader streak of large pharma-biotech combinations focused on later-stage immunology growth opportunities.