M&A

AbbVie and Landos Biopharma have announced that they have entered into a definitive agreement under which AbbVie will acquire Landos for an approximate $137.5m ‒ or $20.42 per share ‒ adding to its portfolio in inflammatory and autoimmune diseases.

Landos’ lead investigational asset, NX-13, is a ‘first-in-class, oral NLRX1 agonist (a member of the NOD-like receptor family) with a bimodal mechanism of action (MOA), which is anti-inflammatory and facilitates epithelial repair’, according to the company’s press release.

Gregory Oakes, president and chief executive officer of Landos, stated: “This announcement is a testament to Landos’ talented team and their commitment to our mission of creating oral treatments that can address a therapeutic gap. NX-13 and its bimodal MOA have the potential to provide a novel approach to the treatment of UC and Crohn’s disease. With AbbVie’s therapeutic area leadership and expertise in global development, they are the right company to further advance NX-13.”

Roopal Thakkar MD, senior vice president and chief medical officer of global therapeutics at AbbVie, added: “With this acquisition, we aim to advance the clinical development of NX-13, a differentiated, first-in-class, oral asset with the potential to make a difference in the lives of people living with ulcerative colitis (UC) and Crohn’s disease.”