Landos Biopharma’s Definitive Merger with AbbVie Subsidiary

Landos Biopharma (LABP) has provided an update.

Landos Biopharma, Inc. has entered into a definitive merger agreement with Bespin Subsidiary, LLC, and its parent company, AbbVie Inc., in which Landos will become a wholly owned subsidiary post-merger. Shareholders of Landos Biopharma will receive $20.42 per share and a contractual contingent value right (CVR), which could pay an additional $11.14 per share if certain milestones are met. The deal, not contingent on financing, includes provisions for company stock options, warrants, and restricted stock units, as well as certain termination rights and a substantial termination fee under certain conditions. The merger’s completion hinges on stockholder approval, regulatory clearances, and the absence of legal barriers.

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