AbbVie announced today that it has signed a definitive agreement to acquire ImmunoGen and its lead cancer therapy ELAHERE, a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC).

This acquisition accelerates AbbVie's commercial and clinical presence in solid tumors. In addition, ImmunoGen's portfolio of promising next-generation solutions complements its existing ADC platform and programs.

AbbVie will acquire all outstanding shares of ImmunoGen at a price of $31.26 per share, valuing the group at approximately $10.1 billion. The transaction is expected to close in mid-2024, subject to customary closing conditions.

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