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- Apogee Therapeutics
Apogee Therapeutics Acquisition, Valuation & Financials
Apogee Therapeutics was acquired by AbbVie for $11B in June 2026.
Apogee Therapeutics revenue as a public company
-
Last twelve months · Aug 2026
Cumulative funding Apogee Therapeutics raised
$169M
across 2 funding rounds
Apogee Therapeutics market cap before the deal
$10B
NAS: APGE · Aug 2026
Apogee Therapeutics Overview
About Apogee Therapeutics
Apogee Therapeutics Inc is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology (I&I) indications with high unmet need. Its antibody programs are designed to overcome the limitations of existing therapies by targeting well-established mechanisms of action and incorporating antibody engineering to optimize half-life and other properties.
Founded
2023
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Revenue
- (Aug 2026)
Valuation
$11B (acquired Jun 2026)
Sectors
Apogee Therapeutics Acquisition
Apogee Therapeutics was acquired by AbbVie for $11B on 19 June 2026.
Before the acquisition Apogee Therapeutics had raised $169M across 2 funding rounds.
AbbVie acquired Apogee Therapeutics in an all-cash deal valued at approximately $10.9 billion, paying $135.11 per share, representing a 49% premium to the June 18, 2026 closing price. The transaction, AbbVie's largest acquisition in over five years, is expected to close in Q3 2026 pending shareholder and regulatory approvals. AbbVie will fund the deal with debt and plans to integrate Apogee's clinical-stage immunology and respiratory assets, including zumilokibart for atopic dermatitis and asthma, into its broader dermatology, respiratory, and inflammatory disease strategy. Apogee's pipeline, particularly zumilokibart, represents mega-blockbuster peak sales potential and is the primary driver of deal value. Apogee Therapeutics is a Waltham, Massachusetts-based biotechnology company focused on developing novel therapies for inflammatory diseases. The acquisition strengthens AbbVie's immunology leadership against competitors like Johnson & Johnson. Financial terms were not disclosed.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 19 Jun 2026 | PE buyout | $11B |
Apogee Therapeutics as a Public Company
Apogee Therapeutics traded as NAS: APGE before it was taken private. Its acquisition was announced in June 2026. August 2026 is its last month on record as a listed company, with a market cap of $10B and an enterprise value of $9.3B.
Over the 3 years before that, its market cap grew from $1.2B in August 2023 to $10B.
Apogee Therapeutics market cap while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EV/EBITDA |
|---|---|---|---|---|
| Aug 2026 | $10B | - | ($330M) | (28.1x) |
| Aug 2025 | $2.2B | - | ($264M) | (6.3x) |
| Aug 2024 | $2.9B | - | ($159M) | (14.0x) |
| Aug 2023 | $1.2B | - | - | - |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Apogee Therapeutics traded.
Apogee Therapeutics Funding History
Apogee Therapeutics has raised a total of $169M across 2 funding rounds.
Apogee Therapeutics' first fundraising round was a $20M Series A in January 2022. The most recent completed round was a $149M Series B in December 2022.
Apogee Therapeutics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2022 | Series B | Deep Track Capital (lead); RTW Investments (lead); Fairmount Funds Management; Wellington Management; Fidelity; RA Capital Management; OrbiMed; Venrock Healthcare Capital Partners; Perceptive Advisors | $149M | Apogee Therapeutics, a clinical-stage biotechnology company focused on developing optimized novel biologics for inflammatory and immunology diseases, emerged as a spinout from Paragon Therapeutics with a $149 million Series B funding round in December 2022, co-led by Deep Track Capital and RTW Investments, with participation from Fairmount Funds Management, Fidelity, OrbiMed, Perceptive Advisors, RA Capital Management, Venrock Healthcare Capital Partners, and Wellington Management. The funding supported advancement of its pipeline, including APG777, a novel antibody targeting a clinically validated pathway, with plans to enter clinical testing in the second half of 2023 and additional candidates to follow annually. Apogee maintained a partnership with Paragon for biologic R&D flexibility. The company had four candidates in its pipeline at launch, targeting immunological and inflammatory disorders without specifying diseases initially. Later developments included an IPO in 2023 raising $300 million at $17 per share. Recent financials from 2025 show no revenue generation, consistent with its preclinical-to-clinical stage focus, reporting net losses of $255.8 million for full year 2025 and $182.1 million for 2024, with a strong cash position of $902.9 million extending runway into 2H 2028 to support trials for zumilokibart in AD, asthma, and EoE. |
| Jan 2022 | Series A | Fairmount Funds Management (lead); Venrock Healthcare Capital Partners (lead) | $20M | - |
Who has invested in Apogee Therapeutics?
9 investors have backed Apogee Therapeutics across its funding rounds, including Venrock Healthcare Capital Partners, Fairmount Funds Management, OrbiMed, Fidelity, RA Capital Management and Wellington Management.
Lead investors include Deep Track Capital, RTW Investments, Fairmount Funds Management and Venrock Healthcare Capital Partners.
Apogee Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2022 | ||
| 2 | Lead | Jan 2022 | ||
| 1 | Lead | Dec 2022 | ||
| 1 | Participant | Dec 2022 | ||
| 1 | Participant | Dec 2022 | ||
| 1 | Lead | Dec 2022 | ||
| 1 | Participant | Dec 2022 | ||
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Start Free TrialApogee Therapeutics Competitors
Apogee Therapeutics competitors include listed companies like Zhangzhou Pientzehuang, Haisco Pharmaceutical, Mankind Pharma and Dr Reddy's Laboratories, and private ones like Biosplice Therapeutics and Biocon Biologics.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.3B | $399M | $11B | 8.4x | ||
| Publicly listed | $655M | $83M | $11B | 12.7x | ||
| Publicly listed | $1.5B | $397M | $11B | 7.0x | ||
| Publicly listed | $3.5B | $789M | $11B | 2.9x | ||
| Private | - | - | $12B | - | ||
| Private | $1.1B | - | $4.5B | 4.2x |
Apogee Therapeutics Public Comps
Apogee Therapeutics is no longer listed, but its public comps include Zhangzhou Pientzehuang, Haisco Pharmaceutical, Mankind Pharma, Dr Reddy's Laboratories, Elanco, Akeso, Aurobindo Pharma, Laurus Labs, Cipla and Axsome Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $399M | 8.0x | 8.4x | 26.9x | 29.5x | |||
| $655M | $83M | 17.1x | 12.7x | 134.2x | 53.4x | |||
| $1.5B | $397M | 7.4x | 7.0x | 28.0x | 27.6x | |||
| $3.5B | $789M | 3.0x | 2.9x | 13.3x | 15.0x | |||
| $4.7B | $676M | 3.1x | 2.9x | 21.7x | 14.8x | |||
| $456M | ($154M) | 23.7x | 17.2x | (70.3x) | (516.6x) | |||
| $3.5B | $721M | 2.9x | 2.6x | 14.0x | 12.7x | |||
| $703M | $190M | 16.7x | 14.9x | 61.9x | 52.9x | |||
This data is available for Pro users. Sign up to see all Apogee Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Apogee Therapeutics
| When was Apogee Therapeutics founded? | Apogee Therapeutics was founded in 2023. |
| Where is Apogee Therapeutics headquartered? | Apogee Therapeutics is headquartered in United States. |
| Is Apogee Therapeutics publicly listed? | No, Apogee Therapeutics was acquired by AbbVie in June 2026. |
| Who acquired Apogee Therapeutics? | Apogee Therapeutics was acquired by AbbVie in June 2026. |
| How much was Apogee Therapeutics acquired for? | Apogee Therapeutics was acquired for $11B in June 2026. |
| How much funding has Apogee Therapeutics raised? | Apogee Therapeutics has raised $169M across 2 funding rounds. |
| What was Apogee Therapeutics' last funding round? | Apogee Therapeutics' last funding round was a $149M Series B in December 2022, led by Deep Track Capital and RTW Investments. |
| Who are Apogee Therapeutics' investors? | Apogee Therapeutics' investors include Fairmount Funds Management, Venrock Healthcare Capital Partners, RTW Investments, Wellington Management, Fidelity, Deep Track Capital, RA Capital Management, OrbiMed and Perceptive Advisors. |
| Which companies are comparable to Apogee Therapeutics? | Companies comparable to Apogee Therapeutics include Zhangzhou Pientzehuang, Haisco Pharmaceutical, Mankind Pharma, Dr Reddy's Laboratories, Biosplice Therapeutics and Biocon Biologics. |
| What was Apogee Therapeutics' market cap before the acquisition? | Apogee Therapeutics had a market cap of $10B in August 2026, its last month on record as a listed company. |
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