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AbbVie Spends $10bn On ImmunoGen To Improve Chances In ADC Space

 
• By Joseph Haas

Despite writing down $4bn after the failure of Stemcentrx’s Rova-T, AbbVie will bet big again on the cancer antibody-drug conjugate space by paying a high premium for ImmunoGen, including Elahere and its R&D potential.

AbbVie Sign
AbbVie is ready to make another play in the ADC space with ImmunoGen deal • Source: Shutterstock

AbbVie Inc. took a big dive into the increasingly popular antibody-drug conjugate space on 30 November with a $10.1bn buyout offer for ImmunoGen, Inc. and its ovarian cancer ADC Elahere. It also took an attractive takeover option off the board in a field where the Chicago-area big pharma has long wanted to build a significant presence.

Key Takeaways

  • AbbVie will pay $10.1bn to acquire ImmunoGen and Elahere, the first antibody-drug conjugate approved to treat ovarian cancer.

The deal comes six-years after AbbVie made an ill-fated $5.8bn wager on Stemcentrx and its DLL3-targeting ADC candidate for lung...

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