Exicure Buys GPCR USA From GPCR Therapeutics, Signs L&C Deal; Stock Climbs

(RTTNews) - Exicure, Inc. (XCUR), a biotechnology company, Thursday announced that it has entered into a share purchase agreement with South Korea-based GPCR Therapeutics Inc. on January 19.

Under the agreement, Exicure acquired all issued and outstanding equity in GPCR Therapeutics USA Inc., a California-based subsidiary of GPCR.

The transaction was finalized at the same time the agreement was signed. Before the closing, GPCR USA was wholly owned by GPCR.

GPCR USA is a biotech company with an ongoing Phase 2 clinical trial focused on blood cancer patients, particularly those eligible for hematopoietic stem cell transplantation.

In connection with the agreement, Exicure and GPCR Therapeutics entered into a License and Collaboration or L&C Agreement to advance the development and commercialization of GPCR's technologies related to specific intellectual property and patents.

Under the L&C deal, Exicure will make milestone payments to GPCR upon the achievement of specific milestone events relating to clinical trials, marketing authorizations, and net sales. Exicure will also pay a recurring royalty payment based on at least 10% of net sales.

On Wednesday, Exicure closed its regular trading 15.07% lesser at $10.37. In the after-hours, the shares traded 46.77% higher at $15.22 on the Nasdaq.