Pharmaceutical Executive March 26, 2024
The move will bring Landos’ lead drug, NX-13, under AbbVie’s umbrella.
The pharma acquisitions continue.
AbbVie announced in a press release that it has entered in an agreement with Landos Biopharma to acquire the company.1 This will bring the clinical stage biopharmaceutical company’s pipeline under AbbVie’s umbrella. This includes Landos’ lead drug, NX-13.
According to a press release, AbbVie will pay $20.42 per share, which amounts to about $137.5 million total. The deal also has an additional $75 million clause which is subject to the achievement of a clinical development milestone. The deal still needs to go through regulatory approval, but assuming everything goes to plan, it is expected to close in the second quarter of this year.
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