Pharma BD Deal Intelligence
AbbVie acquired Landos Biopharma for $20.42/share in cash (~$137.5M upfront) plus one non-tradable CVR worth up to $11.14/share (~$75M, total up to ~$212.5M) contingent on a clinical milestone; announced March 25, 2024 and closed May 23, 2024. The deal added NX-13 (ABBV-113), a first-in-class oral NLRX1 agonist then in Phase 2 (NEXUS) for moderate-to-severe ulcerative colitis, to AbbVie's inflammatory/autoimmune pipeline behind Skyrizi and Rinvoq. UPDATE (post-close): AbbVie terminated the Phase 2 NEXUS trial (NCT05785715) — overall status TERMINATED on ClinicalTrials.gov, 'Sponsor Decision, Not Safety Related,' completion May 30, 2025 — and discontinued ABBV-113 development, citing an inadequately differentiated benefit-risk profile. With the program halted, the CVR's clinical milestone is almost certainly unattainable, leaving the realized deal value at the ~$137.5M upfront.