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AbbVie to Acquire Landos Biopharma
- Client News
- March 25, 2024
Paul, Weiss is advising AbbVie Inc. in its acquisition of Landos Biopharma, Inc., a clinical stage biopharmaceutical company that develops novel, oral therapeutics for patients with autoimmune diseases. Under the terms of the agreement, AbbVie will pay $20.42 per share in cash upon closing, or approximately $137.5 million, plus one non-tradable contingent value right per share with a value of up to $11.14 per share, or approximately an additional $75 million, subject to the achievement of a clinical development milestone. The deal is expected to close in the second quarter of 2024, subject to customary closing conditions.
The Paul, Weiss team is led by corporate partners Benjamin Goodchild and Krishna Veeraraghavan and includes counsel Patricia Vaz de Almeida; intellectual property partners Jonathan Ashtor and Bonnie Chen and counsel Brianna van Kan; executive compensation partner Jean McLoughlin; tax partner Brian Krause; litigation partner Geoffrey Chepiga and counsel Daniel Levi; and international trade counsel Richard Elliott.