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HBM Healthcare Investments AG
ISIN: CH0012627250
WKN: 984345
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HBM Healthcare Investments AG · ISIN: CH0012627250 · EQS - Company News (193 News)
Country: Switzerland · Primary market: Switzerland · EQS NID: 1786973
30 November 2023 05:46PM

AbbVie to acquire HBM portfolio company ImmunoGen for USD 10.1 billion in cash


HBM Healthcare Investments AG / Key word(s): Mergers & Acquisitions
AbbVie to acquire HBM portfolio company ImmunoGen for USD 10.1 billion in cash

30.11.2023 / 17:46 CET/CEST


HBM Healthcare Investments today announced that its portfolio company ImmunoGen (NASDAQ: IMGN) will be acquired by AbbVie (NYSE: ABBV) for USD 10.1 billion in cash. The acquisition price of USD 31.26 per ImmunoGen share represents a premium of around 95 percent to the closing price on November 29, 2023.

HBM Healthcare Investments has invested USD 17.5 million in ImmunoGen since May 2023 and holds 1.26 million shares worth USD 39.3 million based on the takeover price. The investment was made through participation in a capital increase and further purchases in the market based on the positive phase 3 data from the MIRASOL study, which evaluated the safety and efficacy of ELAHERE® compared to chemotherapy in patients with folic acid receptor alpha (FRα)-positive platinum-resistant ovarian cancer.

The acquisition of ImmunoGen follows the successful, for HBM smaller M&A transactions of Prometheus Biosciences (acquired by Merck & Co. for USD 10.8 billion in April) and Chinook (acquired by Novartis for USD 3.2 billion in August) from HBM's portfolio of listed companies, and thus confirms the attractiveness of the segment of small and medium-sized biotechnology companies with compelling clinical data.

Contact
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at andreas.wicki@hbmhealthcare.com.



End of Media Release


Language: English
Company: HBM Healthcare Investments AG
Bundesplatz 1
6300 Zug
Switzerland
Phone: +41438887171
Fax: +41438887172
E-mail: info@hbmhealthcare.com
Internet: https://www.hbmhealthcare.com
ISIN: CH0012627250
Valor: 1262725
Listed: SIX Swiss Exchange
EQS News ID: 1786973

 
End of News EQS News Service

1786973  30.11.2023 CET/CEST

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