AGN Allergan plc

   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.