Exicure, Inc. Announces Appointment of Timothy P. Walbert as Chairman of the Board
April 07 2020 - 7:00AM
Business Wire
Exicure, Inc. (NASDAQ:XCUR), the pioneer in gene regulatory and
immunotherapeutic drugs utilizing spherical nucleic acid (SNA™)
technology, today reported Timothy P. Walbert, Chairman, President
and CEO of Horizon Therapeutics plc, will succeed Chad Mirkin,
Ph.D. as Chairman of Exicure’s Board of Directors. Dr. Mirkin, who
will remain on the Board, is stepping down as Chairman due to his
responsibilities at Northwestern University, where he is Professor
and Director of the International Institute for Nanotechnology.
Tim Walbert has served as the president and chief executive
officer of Horizon Therapeutics since 2008 and has served as
chairman of its board of directors since 2010. Prior to joining
Horizon, he served as president, chief executive officer and
director of IDM Pharma, Inc., a public biotechnology company
acquired by Takeda America Holdings, Inc. in 2009. Prior to that,
Mr. Walbert served as executive vice president, commercial
operations at NeoPharm, Inc., a public biotechnology company. Mr.
Walbert was also divisional vice president and general manager of
immunology, where he led the global development and launch of the
multi-indication biologic HUMIRA at Abbott, now AbbVie. Tim
received his Bachelor of Arts in Business from Muhlenberg College,
in Allentown, PA. He serves as chairman of the board of Zyla Life
Sciences, co-chairman of the board of MATTER and serves on the
board of the Illinois Biotechnology Innovation Organization (iBIO),
the Biotechnology Innovation Organization (BIO), World Business
Chicago (WBC) and the Greater Chicago Arthritis Foundation. He is a
member of the Illinois Innovation Council, the National
Organization for Rare Disorders (NORD) Advisory Board and serves on
the Board of Trustees of Muhlenberg College.
“Exicure is poised to change pharmaceutical development by
opening up the field of digital medicine with its proprietary
spherical nucleic acid (SNA) technology. Exicure’s existing
programs and pipeline are promising, and the Company has many
untapped therapeutic areas yet to be tackled. I look forward to
working with the Exicure team to advance the Company’s current
clinical programs and take the Company into its next stage of
development, while continuing to build its pipeline of new
therapeutic candidates,” said Mr. Walbert.
“It has been a pleasure to serve as Chairman since we founded
the company in 2011 and to help guide Exicure,” said Dr. Mirkin.
“We have created a clinically-focused company with growing
opportunities in neurology and an asset in immuno-oncology that is
looking promising in clinical trials for several indications. The
platform and team are strong and the potential opportunities are
significant. As we continue to execute on our strategy and bring
candidates through the clinic into commercialization, Tim’s
experience and leadership in this area will be extremely
valuable.”
“Under Chad’s leadership, we built a leading platform company
focused on developing therapeutics based on our technology,
initiated a clinical program (XCUR-FRN) in Friedreich’s ataxia,
advanced our immuno-oncology candidate AST-008 into Phase 2
clinical trials, entered into an exciting partnership with Allergan
in hair loss disorders and finished 2019 with $110 million of cash
on hand,” said Dr. David Giljohann, Chief Executive Officer of
Exicure. “I am looking forward to Tim’s leadership as we continue
to grow Exicure,” concluded Dr. Giljohann.
About Exicure, Inc.
Exicure, Inc. is a clinical-stage biotechnology company
developing therapeutics for neurology, immuno-oncology,
inflammatory diseases and other 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 is in preclinical development of XCUR-FXN an
SNA–based therapeutic candidate, for the treatment of Friedreich’s
ataxia (FA). Exicure's drug candidate AST-008 is currently in a
Phase 1b/2 clinical trial in patients with advanced solid tumors.
Exicure is based outside of Chicago, IL and also has an office in
Cambridge, MA.
For more information, visit Exicure’s website at
www.exicuretx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact could
be deemed forward looking including, but not limited to, statements
about the company’s business strategy and plans, including its
leadership in the field of digital medicine and development of
product candidates based on its proprietary SNA technology and the
company’s transition from the clinic to commercialization; the
advancement of the company’s pipeline and product candidates; the
potential of the company’s collaborations and R&D efforts; and
anticipated market opportunities for the company’s product
candidates in neurology and in immuno-oncology. The forward-looking
statements in this press release speak only as of the date of this
press release, and the company undertakes no obligation to update
these forward-looking statements. Forward-looking statements are
based on management’s 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: the risks that the COVID-19
pandemic may disrupt the company’s business and/or the global
healthcare system more severely than anticipated, which may have
the effect of further delaying our ability to enroll and complete
the company’s ongoing Phase 1b/2 clinical trial, unexpected costs,
charges or expenses that reduce cash runway; that the company’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 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. Furthermore, data from preclinical studies often
fails to be indicative of outcomes in human trials. For a
discussion of other risks and uncertainties, and other important
factors, any of which could cause our actual results to differ from
those contained in the forward-looking statements, see the section
entitled “Risk Factors” in our most recent Form 10-K, as well as
discussions of potential risks, uncertainties, and other important
factors in our subsequent filings with the Securities and Exchange
Commission. All information in this press release is as of the date
of the release, and Exicure undertakes no duty to update this
information, except as required by law.
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MacDougall Karen Sharma 781-235-3060 ksharma@macbiocom.com
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