- Adds first-in-class investigational asset,
NX-13, to AbbVie's pipeline with the potential to offer a novel
approach to the treatment of ulcerative colitis (UC) and Crohn's
disease (CD)
NORTH
CHICAGO, Ill., May 23, 2024
/PRNewswire/ -- AbbVie (NYSE: ABBV) announced today that it has
completed its acquisition of Landos Biopharma, Inc. (NASDAQ: LABP).
With the completion of the acquisition, Landos is now part of
AbbVie.
Landos' lead investigational asset is NX-13, a first-in-class,
oral NLRX1 agonist (a member of the NOD-like receptor family),
which is currently in Phase 2 for the treatment of moderate to
severe UC (NEXUS study; NCT05785715). NLRX1 regulates
immunometabolism and inflammation, and its activation may address
inflammatory bowel disease (IBD) pathogenesis. With a dual
mechanism of action that is anti-inflammatory and facilitates
epithelial repair, NX-13 has the potential to offer a novel
approach to the treatment of UC and CD.
"Many people living with IBD are not able to achieve or maintain
remission and continue to experience debilitating symptoms," said
Kori Wallace, M.D., Ph.D., vice
president, global head of immunology clinical development, AbbVie.
"The addition of NX-13 complements our portfolio in immunology and
strengthens our collective efforts to transform standard of care. I
want to commend the Landos team for their efforts in advancing our
shared mission of developing medicines for those who need it
most."
For additional background on the acquisition, please read the
announcement press release here.
Financial Terms
AbbVie has acquired Landos at a price
of $20.42 per share, plus one
non-tradable contingent value right per share with a value of up to
$11.14 per share, subject to the
achievement of a clinical development milestone. Landos'
common stock will cease to trade on the NASDAQ stock exchange prior
to market open on May 24, 2024.
About the NEXUS Study
NEXUS is a Phase 2
proof-of-concept clinical trial evaluating NX-13 in patients with
moderate to severe UC. NEXUS is a randomized, multicenter,
double-blind, placebo-controlled, multiple dose, 12-week induction
study evaluating 80 patients with moderate to severe UC with a
long-term extension (LTE) period. All subjects will be randomized
to receive either 250 mg or 750 mg immediate release NX-13, or
placebo. The primary objective of the trial will be to evaluate
clinical efficacy, safety and pharmacokinetics of oral NX-13 versus
placebo (NCT05785715 ClinicalTrials.gov).
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines and solutions that solve serious
health issues today and address the medical challenges of tomorrow.
We strive to have a remarkable impact on people's lives across
several key therapeutic areas – immunology, oncology, neuroscience,
and eye care – and products and services in our Allergan Aesthetics
portfolio. For more information about AbbVie, please visit us at
www.abbvie.com. Follow @abbvie on LinkedIn, Facebook,
Instagram, X (formerly Twitter), and YouTube.
Forward-Looking Statements
Some statements in this
news release are, or may be considered, forward-looking statements
for purposes of the Private Securities Litigation Reform Act of
1995. The words "believe," "expect," "anticipate," "project" and
similar expressions and uses of future or conditional verbs,
generally identify forward-looking statements. AbbVie cautions that
these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those expressed or implied in the forward-looking statements.
Such risks and uncertainties include, but are not limited to,
challenges to intellectual property, competition from other
products, difficulties inherent in the research and development
process, adverse litigation or government action, and changes to
laws and regulations applicable to our industry. Additional
information about the economic, competitive, governmental,
technological and other factors that may affect AbbVie's operations
is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual
Report on Form 10-K, which has been filed with the Securities and
Exchange Commission, as updated by its subsequent Quarterly Reports
on Form 10-Q. Forward looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward looking statements, and AbbVie undertakes no obligation,
and specifically declines, to release publicly any revisions to
forward-looking statements as a result of subsequent events or
developments, except as required by law.
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SOURCE AbbVie