WASHINGTON (dpa-AFX) - AbbVie Inc. (ABBV) and Landos Biopharma, Inc. (LABP)
announced Monday a definitive agreement under which AbbVie will acquire
biopharmaceutical company Landos.

Landos' lead investigational asset is NX-13, a first-in-class, oral NLRX1
agonist with a bimodal mechanism of action (MOA), which is anti-inflammatory and
facilitates epithelial repair.

NLRX1 regulates immunometabolism and inflammation, and its activation impacts
multiple mechanisms of inflammatory bowel disease (IBD) pathogenesis. The
randomized controlled Phase 2 NEXUS clinical trial evaluating NX-13 in UC is
currently enrolling patients in the United States and Europe (NCT05785715).

Under the terms of the agreement, AbbVie will acquire Landos at a price of
$20.42 per share in cash upon closing, or approximately $137.5 million in the
aggregate, plus one non-tradable contingent value right per share with a value
of up to $11.14 per share, or approximately an additional $75 million in the
aggregate, subject to the achievement of a clinical development milestone.

The proposed transaction is expected to close in the second calendar quarter of
2024, subject to customary closing conditions, including approval by Landos'
stockholders.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX