BLACKSBURG, Va., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Landos Biopharma, a clinical-stage biopharmaceutical company focused on the discovery and development of therapeutics for patients with autoimmune diseases, today announced the pricing of its initial public offering of 6,250,000 shares of common stock at the public offering price of $16.00 per share, for total gross proceeds of $100 million, before deducting underwriting discounts and commissions and offering expenses payable by Landos Biopharma. All of the shares of the common stock are being offered by Landos Biopharma.

The shares are expected to begin trading on the Nasdaq Global Select Market on February 4, 2021 under the trading symbol of “LABP.” The offering is expected to close on February 8, 2021, subject to customary closing conditions. In addition, Landos Biopharma has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock at the initial public offering price less the underwriting discounts and commissions.

J.P. Morgan, Jefferies and SVB Leerink are acting as joint book-running mangers for the offering. Raymond James is acting as lead manager for the offering.

About Landos Biopharma

Landos Biopharma is a clinical-stage biopharmaceutical company focused on the discovery and development of oral therapeutics for patients with autoimmune diseases that are the first to target new mechanisms of action, including the LANCL2, NLRX1 and PLXDC2 immunometabolic pathways. Landos Biopharma’s core expertise is in the development of therapeutic candidates targeting novel pathways at the interface of immunity and metabolism. Lead asset BT-11 is a novel, oral, gut-restricted small molecule therapeutic candidate for the treatment of ulcerative colitis and Crohn’s disease that targets the LANCL2 pathway. NX-13 is a novel, oral, gut-restricted compound for the treatment of inflammatory bowel disease, which targets the NLRX1 pathway. Additional candidates are in development for the treatment of lupus nephritis, rheumatoid arthritis, multiple sclerosis, and diabetes.