AbbVie Inc. entered a definitive agreement to acquire ImmunoGen for approximately $10.1 billion, gaining its flagship cancer therapy ELAHERE (mirvetuximab soravtansine-gynx), a first-in-class antibody-drug conjugate (ADC) approved for platinum-resistant ovarian cancer (PROC). The acquisition expands AbbVie’s commercial and clinical presence in the solid tumor space. ImmunoGen’s follow-on pipeline of  next-gen ADCs complements AbbVie’s ADC platform and existing programs.
 
ELAHERE is a first-in-class ADC targeting folate receptor alpha (FRα) with a maytansinoid payload DM4, a potent tubulin inhibitor designed to kill the targeted cancer cells. ELAHERE received U.S. FDA accelerated approval in 2022. ELAHERE is the first targeted medicine to show meaningful survival benefit in PROC. 
 
ImmunoGen’s pipeline includes a Phase 1 asset, IMGN-151, a next-gen anti-FRα ADC for ovarian cancer with the potential for expansion into other solid tumor indications. Pivekimab sunirine, currently in Phase 2, is an anti-CD123 ADC targeting blastic plasmacytoid dendritic cell neoplasm (BPDCN), a rare blood cancer, which was granted FDA breakthrough therapy designation for the treatment of relapsed/refractory BPDCN. 
 
“The acquisition of ImmunoGen demonstrates our commitment to deliver on our long-term growth strategy and enables AbbVie to further diversify our oncology pipeline across solid tumors and hematologic malignancies,” said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. “Together, AbbVie and ImmunoGen have the potential to transform the standard of care for people living with cancer.”
 
“With global commercial infrastructure and deep clinical and regulatory expertise, AbbVie is the right company to accelerate geographic and label expansion and realize the full potential of ELAHERE as the first and only ADC approved in ovarian cancer,” said Mark Enyedy, president and chief executive officer, ImmunoGen. “The addition of ImmunoGen’s pipeline, platform, and expertise is an exciting opportunity for the combined companies to advance innovation in ADCs.”

This transaction is expected to close in the middle of 2024, subject customary closing conditions.