In small ac­qui­si­tion, Ab­b­Vie adds Lan­dos and its IBD drug to post-Hu­mi­ra plans

Ab­b­Vie is ac­quir­ing au­toim­mune start­up Lan­dos Bio­phar­ma, ac­cord­ing to a Mon­day an­nounce­ment, aim­ing to cap­i­tal­ize on an IBD drug that re­cent­ly en­tered Phase 2.

The deal will see Ab­b­Vie pay an ap­prox­i­mate up­front ag­gre­gate val­ue of $137.5 mil­lion and of­fer a con­tin­gent val­ue right of an­oth­er $75 mil­lion, pend­ing an undis­closed clin­i­cal mile­stone. Lan­dos’ stock, which closed at $8 apiece on Fri­day, will be val­ued at $20.42 per share in the deal, rep­re­sent­ing a rough­ly 155% pre­mi­um. Ad­di­tion­al­ly, the CVR will pay out at an $11.14 share price, good for a 39% pre­mi­um.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER