AbbVie to Acquire ImmunoGen for $10.1 Billion, Gaining First-in-Class FRα-Targeted ADC ELAHERE

Nov 30, 2023 21:16 CST Updated 21:16

ImmunoGen

Antibody-Drug Conjugates (ADC) Developer

AbbVie

Innovative Drug Developer

On November 30, AbbVie announced that it would acquire ImmunoGen and its anti-cancer drug ELAHERE (mirvetuximab soravtansine-gyynx), which is an approved ADC drug targeting FRα for the treatment of platinum-resistant ovarian cancer (PROC).

According to the agreement, the transaction price is $31.26 per share, the total transaction amount is approximately $10.1 billion, and the transaction is expected to be completed in the middle of 2024.

This acquisition accelerates AbbVie's commercial and clinical layout in the solid tumor field. In addition, ImmunoGen's next-generation ADC pipeline further complements AbbVie's ADC platform and existing programs.

ImmunoGen’s ELAHERE late-stage development program offers the opportunity to expand frontline treatment indications and patient populations. ImmunoGen’s subsequent product pipeline complements AbbVie's oncology portfolio, with transformative potential across various solid tumors and hematologic malignancies.

AbbVie Chairman and Chief Executive Officer Richard A. Gonzalez said, "The acquisition of ImmunoGen demonstrates our commitment to executing our long-term growth strategy and enables AbbVie to further diversify our oncology portfolio in the areas of solid tumors and hematological malignancies."

References:

https://news.abbvie.com/2023-11-30-AbbVie-to-Acquire-ImmunoGen,-including-its-Flagship-Cancer-Therapy-ELAHERE-R-mirvetuximab-soravtansine-gynx-,-Expanding-Solid-Tumor-Portfolio

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