AbbVie To Acquire Landos Biopharma At A Price Of $20.42 Per Share In Cash Upon Closing, Or ~$137.5M
Portfolio Pulse from Benzinga Newsdesk
AbbVie Inc. is set to acquire Landos Biopharma for approximately $137.5 million, or $20.42 per share in cash, with an additional contingent value right of up to $11.14 per share, subject to clinical development milestones. This acquisition aims to advance the clinical development of NX-13, a novel oral treatment for autoimmune diseases such as ulcerative colitis and Crohn's disease. The transaction is expected to close in the second quarter of 2024, pending customary closing conditions and approval by Landos' stockholders.
March 25, 2024 | 12:32 pm
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POSITIVE IMPACT
AbbVie's acquisition of Landos Biopharma aims to enhance its portfolio in autoimmune disease treatments, focusing on the development of NX-13 for ulcerative colitis and Crohn's disease.
AbbVie's acquisition of Landos Biopharma is a strategic move to strengthen its position in the autoimmune disease treatment market. The focus on NX-13, a novel oral treatment, could significantly enhance AbbVie's product pipeline, potentially leading to positive market reception and stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Landos Biopharma's acquisition by AbbVie at $20.42 per share represents a significant milestone, potentially accelerating the development and commercialization of its lead asset, NX-13.
The acquisition by AbbVie not only provides a cash influx for Landos Biopharma but also validates the potential of NX-13, its lead investigational asset. This deal is likely to be viewed positively by investors, given the strategic fit and the potential for accelerated development and commercialization under AbbVie's umbrella.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100