Ropes & Gray represented ImmunoGen in its sale to AbbVie, which will acquire ImmunoGen, and its flagship cancer therapy ELAHERE®. Under the terms of the transaction, AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash. The transaction values ImmunoGen at a total equity value of approximately $10.1 billion. The transaction was announced in a press release on November 30.
ImmunoGen is a biotechnology company focused on the development of antibody-drug conjugate (ADC) technology to treat cancer.
The deal team was led by mergers & acquisitions partner Tara Fisher, executive compensation & employee benefits partner Renata Ferrari, litigation & enforcement partners Mike McFalls and Ruchit Patel, IP transactions partner David McIntosh, finance partner Dan Coyne, tax partner David Saltzman and corporate associate Tyler Silvey.
