Exicure and Allergan Agree to Develop Hair-Loss Treatment
November 14 2019 - 07:56AM
Dow Jones News
By Dave Sebastian
Exicure Inc. (XCUR) and Allergan PLC's (AGN) subsidiary,
Allergan Pharmaceuticals International Ltd., have entered an
agreement to develop a treatment for hair-loss disorders based on
Exicure's spherical nucleic acid technology, or SNA, the companies
said Thursday.
Allergan would pay $25 million upfront to Exicure under the
agreement to receive exclusive access and options to license the
SNA-based therapeutics from two collaboration programs related to
hair-loss disorders that Allergan would develop, the companies
said.
If Allergan exercises an option, the companies said, it would be
responsible for the clinical development and commercialization of
the licensed products.
Exicure would also be eligible to receive up to $97.5 million
per program for development and regulatory milestones and up to
$265 million per program for commercial milestones, according to
the companies. Exicure would be eligible to receive tiered
royalties of mid-single to mid-teens percentages on worldwide
product sales, the companies said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
November 14, 2019 07:41 ET (12:41 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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