June 19 (Reuters) - AbbVie ( ABBV ) is nearing a deal to

acquire inflammatory disease drug developer Apogee Therapeutics ( APGE )

for about $10.9 billion in cash, the Financial Times

reported on Friday, citing people familiar with the matter.

The deal under discussion would value Apogee at a roughly

60% premium to its closing share price on Thursday, according to

the report.

Shares of Apogee were up 19.7% YTD and has a market

capitalization of about $6.81 billion, according to LSEG data.

An announcement could come as early as Monday, provided

negotiations are completed without last-minute issues, the FT

said.

Apogee last month secured a financing package worth up to

$1.3 billion from Blackstone Life Sciences to support the

late-stage development and potential commercialization of its

lead eczema drug.

The report came after AbbVie ( ABBV ) won FDA approval for pivekimab

sunirine-pvzy, a treatment for a rare blood cancer, further

bolstering its pipeline.

AbbVie ( ABBV ) and Apogee did not immediately respond to Reuters

requests for comment. AbbVie's ( ABBV ) offices are closed in the United

States to observe Juneteenth.

Apogee Therapeutics ( APGE ) is a biotechnology company founded in

2022 that develops therapies for inflammatory and immune

diseases.