Exicure & Allergan Enter Into Collaboration, Option & License Agreement to Discover & Develop SNA-based Treatments for Hair L...
November 14 2019 - 7:00AM
Business Wire
- Exicure to Receive $25 Million Upfront
Payment and Up to $725 Million in potential Milestones
- Exicure to Host Conference Call Today at
8:30am ET/7:30am CT
Exicure, Inc., (NASDAQ:XCUR) a pioneer in gene regulatory and
immunotherapeutic drugs utilizing spherical nucleic acid (SNA™)
technology, today announced that Allergan’s wholly-owned
subsidiary, Allergan Pharmaceuticals International Limited, and
Exicure, Inc. have entered into a global collaboration agreement to
discover and develop novel treatments for hair loss disorders based
on Exicure’s proprietary SNA technology.
Under the terms of the agreement, Allergan will receive
exclusive access and options to license SNA-based therapeutics
arising from two collaboration programs related to the treatment of
hair loss disorders. Exicure will receive an upfront payment of $25
million and will conduct discovery and development in two
collaboration programs for hair loss disorders. In the event that
Allergan exercises an option, Allergan will be responsible for
clinical development and commercialization of the licensed
products. Exicure will be eligible to receive development and
regulatory milestones of up to $97.5 million per program and
commercial milestones of up to $265 million per program. Exicure
will also be eligible to receive tiered royalties on worldwide net
product sales of mid-single digit to mid-teens percentages on
worldwide net product sales.
“We are excited to combine our knowledge of nucleic acid
therapeutics with Allergan’s deep expertise in medical aesthetics
to develop and commercialize innovative treatments for hair loss
disorders.” said Dr. David Giljohann, chief executive officer of
Exicure. “This collaboration is an exciting opportunity to advance
Exicure’s SNA technology in an important new therapeutic area.”
Additional Details about the Collaboration and Hair Loss
Program
One of the most common hair loss disorders and a subject of the
collaboration is androgenetic alopecia also known as pattern
baldness, affecting approximately 50 million men and 30 million
women in the United States. It is estimated that over $3.5 billion
a year is spent on treatments, the majority of which are
ineffective.
Conference Call Today at 8:30am ET/7:30am CT
Exicure will hold a conference call at 8:30am ET to provide a
corporate update and to discuss the strategic collaboration
announced today. A live audio only webcast of the conference call
can be accessed in the Investors section of the company’s website
at www.exicuretx.com. To participate in the conference call, please
dial 866-997-1948 or 270-215-9856 five minutes prior to start time.
The conference ID is 9849047. An archived version of the webcast
will be available on Exicure’s website for 30 days.
About Allergan plc
Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a
global pharmaceutical leader focused on developing, manufacturing
and commercializing branded pharmaceutical, device, biologic,
surgical and regenerative medicine products for patients around the
world. Allergan markets a portfolio of leading brands and
best-in-class products primarily focused on four key therapeutic
areas including medical aesthetics, eye care, central nervous
system and gastroenterology. As part of its approach to delivering
innovation for better patient care, Allergan has built one of the
broadest pharmaceutical and device research and development
pipelines in the industry.
With colleagues and commercial operations located in
approximately 100 countries, Allergan is committed to working with
physicians, healthcare providers and patients to deliver innovative
and meaningful treatments that help people around the world live
longer, healthier lives every day.
For more information, visit Allergan’s website at
www.Allergan.com.
About Exicure
Exicure, Inc. is a clinical-stage biotechnology company
developing therapeutics for immuno-oncology, inflammatory diseases
and genetic disorders based on our proprietary Spherical Nucleic
Acid, or SNA technology. Exicure believes that its proprietary SNA
architecture has distinct chemical and biological properties that
may provide advantages over other nucleic acid therapeutics and may
have therapeutic potential to target diseases not typically
addressed with other nucleic acid therapeutics. Exicure's lead
program is in a Phase 1b/2 trial in patients with advanced solid
tumors. Exicure is based outside of Chicago, IL and in Cambridge,
MA.
For more information, visit Exicure’s website at
www.exicuretx.com.
Exicure Forward-Looking Statements
This press release contains forward-looking statements
(including within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended, and Section 27A of the
United States Securities Act of 1933, as amended) concerning the
Company, the Company’s technology, potential therapies, cash
requirements and other matters. Forward-looking statements
generally include statements that are predictive in nature and
depend upon or refer to future events or conditions, and include
words such as “may,” “will,” “should,” “would,” “expect,” “plan,”
“believe,” “intend,” “look forward,” and other similar expressions
among others. Statements that are not historical facts are
forward-looking statements. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors,
including, without limitation: unexpected costs, charges or
expenses that reduce cash runway; that Exicure’s pre-clinical or
clinical programs do not advance or result in approved products on
a timely or cost effective basis or at all; the cost, timing and
results of clinical trials; that many drug candidates that have
completed Phase 1 trials do not become approved drugs on a timely
or cost effective basis or at all; the ability to enroll patients
in clinical trials; possible safety and efficacy concerns;
regulatory developments; and the ability of Exicure to protect its
intellectual property rights. Risks facing the Company and its
programs are set forth in the Company’s filings with the SEC.
Except as required by applicable law, the Company undertakes no
obligation to revise or update any forward-looking statement
(including without limitation its cash runway guidance) or to make
any other forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191114005106/en/
Investors: Stern Investor Relations Kerry Conlin
212-362-1200 kerry.conlin@sternir.com
Media: MacDougall Karen Sharma 781-235-3060
ksharma@macbiocom.com
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