Exicure, Inc. Announces Termination of AbbVie and Ipsen Collaboration Agreements
December 14 2022 - 5:00AM
Business Wire
- Exicure and AbbVie have terminated their
agreement relating to the development programs targeting hair loss
disorders
- Exicure and Ipsen have terminated their
agreement relating to the development programs targeting Angelman
syndrome and Huntington’s disease
Exicure, Inc. (NASDAQ: XCUR) an early-stage biotechnology
company historically focused on developing nucleic acid therapies
targeting ribonucleic acid against validated targets, today
announced the termination of its collaboration agreements with
AbbVie, Inc. (AbbVie) and Ipsen BioPharm Limited (Ipsen).
Through separate agreements with AbbVie and Ipsen, Exicure was
collaboratively advancing specified discovery programs in hair loss
disorders and rare neurodegenerative disorders, respectively.
As a result of this termination, Exicure regains the ability to
independently develop medicines targeting hair loss disorders,
Angelman syndrome, and Huntington’s disease – whilst Ipsen retains
the right to re-enter into the collaboration with Exicure in
Huntington’s Disease and Angelman’s Syndrome
“I want to thank both AbbVie and Ipsen for their support and
partnership in these joint decisions. They were both tremendous
companies to be associated with and extremely helpful and
collaborative in developing and advancing the terminated discovery
programs. In addition to these actions, Exicure is exploring
strategic alternatives focused on maximizing stockholder value,”
stated Matthias Schroff, Chief Executive Officer, Exicure.
About Exicure
Exicure, Inc. is an early-stage biotechnology company
historically focused on developing nucleic acid therapies targeting
ribonucleic acid against validated targets. The Company continues
to actively pursue out-licensing opportunities for its clinical
asset, cavrotolimod, as well as for its preclinical candidates,
including the SCN9A program for neuropathic pain, and to pursue all
strategic alternatives with the goal of maximizing stockholder
value. For further information, see 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 in this press release other than statements of
historical fact may be deemed forward looking including, without
limitation, statements regarding the Company’s current business
plans and objectives, including the pursuit of strategic
alternatives to maximize stockholder value. Words such as “plans,”
“expects,” “will,” “anticipates,” “continue,” “advance,”
“believes,” “target,” “may,” “intend,” “could,” and other words and
terms of similar meaning and expression are intended to identify
forward-looking statements, although not all forward-looking
statements contain such terms. 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. For a discussion of other risks and uncertainties, and
other important factors, any of which could cause the Company’s
actual results to differ from those contained in the
forward-looking statements, see the section titled “Risk Factors”
in the Company’s Quarterly Report on Form 10-Q for the quarter
ended September 30, 2022 filed with the Securities and Exchange
Commission on November 14, 2022, as updated by the Company’s
subsequent filings with the Securities and Exchange Commission. All
information in this press release is as of the date of the release,
and the Company undertakes no duty to update this information or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221214005298/en/
Media: Karen Sharma MacDougall 781-235-3060
ksharma@macdougall.bio
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