M&A Deal Summary

AbbVie Acquires ImmunoGen

On November 30, 2023, AbbVie acquired life science company ImmunoGen for 10.1B USD

Acquisition Highlights
  • This is AbbVie’s 8th transaction in the Life Science sector.
  • This is AbbVie’s 3rd largest (disclosed) transaction.
  • This is AbbVie’s 6th transaction in the United States.
  • This is AbbVie’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2023-11-30
Target ImmunoGen
Sector Life Science
Buyer(s) AbbVie
Deal Type Add-on Acquisition
Deal Value 10.1B USD
Advisor(s) Goldman Sachs
Lazard (Financial)
Ropes & Gray (Legal)

Target

ImmunoGen

Waltham, Massachusetts, United States
ImmunoGen is a clinical-stage biotechnology company that develops targeted anticancer therapeutics using its proprietary ADC technology. ImmunoGen was founded in 1980 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

AbbVie

North Chicago, Illinois, United States

Category Company
Founded 2012
Sector Life Science
Employees50,000
Revenue 54.3B USD (2023)
DESCRIPTION
Entrance to Abbvie's office in Lake Forest, Illinois.
Entrance to Abbvie's office in Lake Forest, Illinois.

AbbVie is a research-based biopharmaceutical company. AbbVie develops and markets advanced therapies that address complex and serious diseases. AbbVie's products are focused on treating conditions such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis, and Crohn's disease; low testosterone; HIV; endometriosis; thyroid disease; Parkinson's disease; and complications associated with chronic kidney disease and cystic fibrosis, among other health conditions. AbbVie was founded in 2012 and is based in North Chicago, Illinois.


DEAL STATS #
Overall 8 of 13
Sector (Life Science) 8 of 13
Type (Add-on Acquisition) 7 of 12
State (Massachusetts) 1 of 4
Country (United States) 6 of 11
Year (2023) 1 of 2
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-20 DJS Antibodies

Oxford, United Kingdom

DJS Antibodies is a privately-held UK-based biotechnology company dedicated to discovering and developing antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors. DJS Antibodies is based in Oxford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-06 Cerevel

Cambridge, Massachusetts, United States

Cerevel is a biopharmaceutical company focused on developing drug candidates to treat disorders of the central nervous system (CNS). The company has a portfolio of pre-commercial neuroscience assets, which include three clinical-stage compounds and several pre-clinical compounds designed to target a broad range of CNS disorders including Parkinson’s, Alzheimer’s, epilepsy, schizophrenia, and addiction. Cerevel was formed in 2018 and headquartered in Cambridge, Massachusetts.

Buy $8.7B