AbbVie (NYSE: ABBV) has reached an agreement to acquire fellow U.S. biotech ImmunoGen (NASDAQ: IMGN) for an equity value of approximately USD 10.1 billion. The transaction is anticipated to close in mid-2025, pending the fulfillment of customary regulatory conditions.
This acquisition will enhance AbbVie’s portfolio with Elahere (mirvetuximab soravtansine), an antibody-drug conjugate (ADC) targeting folate receptor alpha (FRα), which received accelerated approval from the U.S. FDA last year for the treatment of platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer. Elahere is also being developed for additional ovarian cancer indications.
ImmunoGen’s pipeline further includes a next-generation anti-FRα agent currently in early-stage development for ovarian cancer and other solid tumors, as well as pivekimab sunirine, an anti-CD123 ADC that is undergoing Phase II trials for relapsed/refractory blastic plasmacytoid dendritic cell neoplasm (BPDCN).- Flcube.com
