AbbVie Reports the Acquisition of Landos Biopharma for ~$212.5M
Shots:
- AbbVie signed a definitive agreement to acquire Landos Biopharma as a step to strengthen its Inflammatory and Autoimmune Disease portfolio through the acquisition of Landos’ lead asset, NX-13
- Under the terms of the agreement, AbbVie will acquire Landos for $20.42 per share in cashupon closing adding to an aggregate of $137.5M along with a non-tradable CVR per share with a value of up to $11.14 per share summing to an aggregate of $75M upon achieving clinical development milestone. The transaction is expected to close by Q2’24
- NX-13 (250/750mg) is an oral NLRX1 agonist currently being evaluated for safety, efficacy & PK vs PBO in the P-II (NEXUS) clinical trial in patients (n=80) with moderate to severe UC
Ref: Globenewswire | Image: AbbVie
Related News:- AbbVie and OSE Immunotherapeutics Join Forces for the Development of OSE-230 to Treat Chronic Inflammation
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
