ABBVIE TO ACQUIRE IMMUNOGEN IN A $10 BILLION TRANSACTION

5 December 2023

On November 30th, 2023, AbbVie Inc. (NYSE: ABBV) and ImmunoGen, Inc. (NASDAQ: IMGN) announced a definitive agreement under which AbbVie will acquire ImmunoGen, and its flagship cancer therapy ELAHEREĀ® (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC).

According to companies’ announcement, the acquisition accelerates AbbVie’s commercial and clinical presence in the solid tumor space. Additionally, ImmunoGen’s follow-on pipeline of promising next-generation ADCs further complements AbbVie’s ADC platform and existing programs.

Under the terms of the transaction, AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash.

The transaction values ImmunoGen at a total equity value of approximately $10.1 billion.

The transaction is expected to close in the middle of 2024, subject to ImmunoGen shareholder approval, regulatory approvals, and other customary closing conditions.

AbbVie to Acquire ImmunoGen, including its Flagship Cancer Therapy ELAHEREĀ® (mirvetuximab soravtansine-gynx), Expanding Solid Tumor Portfolio


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