AbbVie Acquires Landos Biopharma for $137.5 Million 

by | Mar 25, 2024 1:52 pm | Biotechnology

On March 25, Chicago-based AbbVie Inc. announced that it entered into an agreement to acquire Landos Biopharma for $137.5 million.  AbbVie will acquire Landos at a price of $20.42 per share in cash upon closing, plus one non-tradable contingent value right per share with a value of up to $11.14 per share, or approximately an additional $75 million in the aggregate, subject to the achievement of a clinical development milestone.  Landos Biopharma is a clinical stage biopharmaceutical company focused on the development of first-in-class oral therapeutics for patients with autoimmune diseases.  Landos’ lead investigational asset is NX-13, a first-in-class oral NLRX1... Read More »
AbbVie Acquires Cerevel Therapeutics for $8.7 Billion

AbbVie Acquires Cerevel Therapeutics for $8.7 Billion

by | Dec 7, 2023 10:47 am | Biotechnology

AbbVie Inc. continues its shopping spree with yet another Boston-based biotechnology acquisition. The company announced that it will be acquiring Cerevel Therapeutics for approximately $8.7 billion. This transaction follows AbbVie’s acquisition of ImmunoGen Inc. for a total equity value of approximately $10.1 billion, announced on November 30, 2023.  Founded in 2018, Cerevel Therapeutics researches treatments and therapeutics to treat neuroscience diseases. Cerevel Therapeutics has a diversified pipeline comprising five clinical-stage investigational therapies and several preclinical compounds with the potential to treat a range of neuroscience diseases, including schizophrenia,... Read More »
AbbVie Acquires Cerevel Therapeutics for $8.7 Billion

AbbVie Acquires ImmunoGen for $10.1 Billion, Expanding Solid Tumor Portfolio

by | Nov 30, 2023 12:28 pm | Biotechnology

AbbVie Inc. and ImmunoGen, Inc. announced on November 30 a definitive agreement under which AbbVie will acquire ImmunoGen, a publicly traded biotechnology company focused on the development of antibody-drug conjugate (ADC) technology to treat cancer.  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.  ImmunoGen’s flagship cancer therapy ELAHERE® (mirvetuximab soravtansine-gynx) is approved for the treatment of platinum-resistant ovarian cancer. According to its 2022 financial report, ImmunoGen had total revenues of... Read More »
AbbVie and Genmab Sign Major New Oncology Deal

AbbVie and Genmab Sign Major New Oncology Deal

by | Jun 11, 2020 3:21 pm | Biotechnology

AbbVie Inc. (NYSE: ABBV) announced on June 10 a broad oncology collaboration with Denmark-based Genmab A/S (NASDAQ: GMAB). The two firms are teaming up to jointly develop and commercialize three of Genmab’s early-stage investigational bispecific antibody product candidates. AbbVie and Genmab are also starting a discovery research collaboration for future differentiated antibody therapeutics for cancer, including epcoritamab, a bispecific antibody created using Genmab’s proprietary DuoBody technology. AbbVie will pay Genmab $750 million upfront, with total potential development, regulatory and sales milestone payments of up to $3.15 billion, as well as tiered royalties between... Read More »
Biogen Eyes Two Ophthalmic Biosimilars

Biogen Eyes Two Ophthalmic Biosimilars

by | Nov 15, 2019 3:30 pm | Pharmaceuticals

Boston-based Biogen Inc. (NASDAQ: BIIB) has announced a “proposed transaction” with Samsung Bioepis Co., Ltd. to secure the exclusive rights to commercialize two new ophthalmology biosimilars, SB11 referencing Lucentis® and SB15 referencing Eylea®, in major markets worldwide, including the United States, Canada, Europe, Japan and Australia. In addition, Biogen will acquire exclusive commercialization rights for Samsung Bioepis’ anti-TNF portfolio, including Benepali (etanercept), Flixabi (infliximab) and Imraldi (adalimumab), in China. Biogen will also acquire an option to extend its existing commercial agreement with Samsung Bioepis for this anti-TNF portfolio in Europe.... Read More »