AbbVie to acquire Landos Biopharma to bolster autoimmune disease treatments
AbbVie Inc. (NYSE: ABBV) and Landos Biopharma, Inc. (NASDAQ: LABP) have announced a landmark agreement, marking a strategic move in the biopharmaceutical sector focused on the development of novel treatments for autoimmune diseases. The definitive agreement outlines AbbVie’s acquisition of Landos, a clinical-stage biopharmaceutical company renowned for its innovative approach to creating oral therapeutics for autoimmune conditions. The spotlight of this acquisition is NX-13, a pioneering, first-in-class, oral NLRX1 agonist with a dual mode of action designed to provide anti-inflammatory benefits and facilitate epithelial repair.
The acquisition, valued at $20.42 per share in cash upon closing—totaling approximately $137.5 million—plus an additional contingent value right per share with a potential value of up to $11.14, hinges on achieving a specific clinical development milestone. This brings the total potential transaction value to approximately $212.5 million. AbbVie’s commitment to enhancing the clinical development of NX-13 underlines its dedication to addressing the unmet needs of patients suffering from ulcerative colitis and Crohn’s disease.
Dr. Roopal Thakkar, senior vice president and chief medical officer at AbbVie, expressed enthusiasm for the acquisition, highlighting NX-13’s potential to significantly impact the lives of individuals battling ulcerative colitis and Crohn’s disease. Gregory Oakes, president and CEO of Landos, echoed this sentiment, acknowledging the partnership’s capacity to bridge therapeutic gaps with NX-13’s unique bimodal mechanism of action.
The NEXUS study, a Phase 2 clinical trial evaluating NX-13’s efficacy in patients with moderate to severe ulcerative colitis, is currently underway, with patient enrollment in the United States and Europe. This trial is a testament to the collaborative effort to push the boundaries of autoimmune disease treatment.
The acquisition of Landos Biopharma by AbbVie Inc. is poised to make waves in the realm of autoimmune disease treatment. By harnessing the innovative potential of NX-13, this partnership underscores a shared commitment to developing groundbreaking, patient-centric therapies. As the healthcare industry continues to evolve, strategic collaborations like this one are crucial for driving forward the development of new, effective treatments for complex diseases such as ulcerative colitis and Crohn’s disease. This move not only reflects AbbVie’s strategic vision but also signifies a promising advancement for patients worldwide.