Business
Exicure and Allergan Enter Into Collaboration, Option and License Agreement to Discover and Develop SNA-based Treatments for Hair Loss Disorders
- 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
About this update from Exicure, Inc.
[{"type":"text","content":"\n- Exicure to Receive $25 Million Upfront Payment and Up to $725 Million in potential Milestones\n\n\n- Exicure to Host Conference Call Today at 8:30am ET/7:30am CT\n\n CHICAGO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nExicure, 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.\n\n\nUnder 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.\n\n\n“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.”\n\n\nAdditional Details about the Collaboration and Hair Loss Program \n\n\nOne 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.\n\n\nConference Call Today at 8:30am ET/7:30am CT\n\n\nExicure will hold a conference ...