Purdue Pharma - Exicure Strategic Research Collaboration

Purdue Pharma L.P. and Exicure, Inc. announced a strategic research collaboration, option and license agreement to discover and develop a treatment for psoriasis, and other diseases amenable to a gene regulation approach utilizing Exicure’s Spherical Nucleic Acid (SNA)™ technology. Purdue Pharma, upon exercise of the options, will obtain full worldwide development and commercial rights to AST-005, and rights to three additional collaboration targets with associated intellectual property.

“This long-term strategic collaboration agreement represents a significant expansion of Purdue’s pipeline, and provides us with the potential to further our mission of developing novel therapies for patients with chronic conditions,” said Mark Timney, President and Chief Executive Officer, Purdue Pharma L.P. “We look forward to combining Exicure’s SNA technology and deep expertise in this field with Purdue’s resources and expertise in clinical studies, regulatory affairs and commercialization for the benefit of patients.”

“Given the broad potential of SNA technology, we want to forge long-term strategic relationships with best-in-class companies. As we were looking for a global leader with a proven track record in the development and global commercialization of treatments for patients with chronic conditions, we were very impressed with the Purdue Pharma’s clinical and commercial capabilities,” said Dr. David Giljohann, Chief Executive Officer, Exicure.

Under the terms of agreement, Exicure received an upfront payment, will receive an equity investment and could potentially receive development, regulatory and commercial milestone compensation, which together with the upfront payment and equity investment, could total up to $790 million, if all programs are fully developed, as well as royalties on potential sales of the products.