Exicure (NASDAQ:XCUR) will collaborate with Allergan (NYSE:AGN) subsidiary Allergan Pharmaceuticals International to discover and develop treatments for hair loss disorders based on Exicure’s proprietary SNA technology.
Under the terms of the agreement, Exicure will receive $25M upfront, up to $97.5M in development and regulatory milestones per program, up to $265M in commercial milestones per program and tiered mid-single-digit-to-mid-teens royalties on net sales. If Allergan exercises its option to exclusively in-license a candidate, it will be responsible for clinical development and commercialization. Exicure will conduct discovery and development in two programs.
Exicure will host a conference call this morning at 8:30 am ET to discuss the partnership.
XCUR is up 24% premarket.
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