AbbVie picks up Landos’ autoimmune pipeline
25 Mar 2024
Phase 2Acquisition
Proactively filling its Humira revenue hole, AbbVie agreed to acquire Landos Biopharma and its pipeline of autoimmune drugs for up to $212.5 million on Monday. The pharma will gain a mid-stage inflammatory bowel disease (IBD) candidate, as well as a trio of preclinical programmes.
Although sales of the autoimmune disease blockbuster haven’t dropped off as steeply as expected since biosimilar competitors first hit the US market last year, AbbVie has been laying the groundwork for its next-generation immunology programmes to drive its post-Humira growth (see – Physician Views Results: Lack of financial incentive and prescriber confidence stalling adoption of biosimilar Humira products).
AbbVie will pay $137.5 million upfront to take out Landos, or about $20.42 per share, representing a 160% premium over Landos’ most recent close of $7.83 on Friday. The firm may also purchase one contingent value right per share, valued at $11.14 each, for about $75 million, dependent on an undisclosed clinical development milestone.
Landos’ lead candidate NX-13 is an oral NLRX1 agonist intended to regulate the immunometabolic and inflammatory mechanisms of IBD. A randomised, placebo-controlled Phase II trial is underway in the US and Europe to assess two doses of NK-13 in 80 patients with moderate-to-severe ulcerative colitis (UC). Topline data are expected by year-end.
The compound is also Phase II-ready for Crohn’s disease, according to Landos.
“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 and Crohn’s disease,” said AbbVie chief medical officer Roopal Thakkar.
Landos’ pipeline also features three preclinical programmes, including two additional NLRX1 agonists. The first, LAPB-66, is being developed under a collaboration with Johns Hopkins to treat multiple sclerosis and other neurodegenerative disorders; the second, LAPB-73, is being investigated as a treatment for asthma and eosinophilic disorders.
The third candidate, LAPB-69, is an oral small molecule activator of the PLXDC2 pathway in development for rheumatoid arthritis, UC, and Crohn’s.
The acquisition is expected to close next quarter.
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