Press Release

Landos Biopharma to Be Acquired by AbbVie

March 25, 2024

New York – March 25, 2024 – Cooley advised Landos Biopharma (NASDAQ: LABP), a clinical-stage biopharmaceutical company focused on the development of first-in-class, oral therapeutics for patients with autoimmune diseases, on its definitive agreement under which it will be acquired by AbbVie. Partners Eric Blanchard and Kevin Cooper led the Cooley team advising Landos.

Under the terms of the agreement, AbbVie will acquire Landos at a price of $20.42 per share in cash upon closing, or an aggregate amount of approximately $137.5 million, plus one non-tradable contingent value right per share, with a value of up to $11.14 per share, or an additional aggregate amount of approximately $75 million, subject to the achievement of a clinical development milestone.

Cooley previously advised Landos on its $100 million initial public offering in February 2021.

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