secwatch.observer — SEC 8-K summary
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Issuer:     Landos Biopharma, Inc. (—)
CIK:        0001785345
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0000950170-23-005215
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Landos sells BT-11, LABP-104, LABP-111 assets to former CEO group; redeems 9.1M shares for $3M cash plus royalties
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- Landos sells all rights to Omilancor (BT-11), LABP-104, LABP-111 and related IP to group led by former CEO Dr. Josep Bassaganya-Riera.
- Landos redeems 9,086,441 shares from purchasers and pays $3M cash; grants exclusive license to acquired compounds.
- Landos will receive 6% royalty on net sales of acquired compounds; purchasers receive 2% royalty on net sales of certain retained compounds.
- LianBio agreement amended to remove BT-11 from licensed technology; developmental milestones adjusted.
- Transaction closed simultaneously on February 28, 2023; dispute between parties resolved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1785345/000095017023005215/0000950170-23-005215-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1785345/000095017023005215/labp-20230228.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-005215

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer