Exicure to Pay GPCR Therapeutics $1 Million for First Milestone Completion

On January 23, US-based biotech company Exicure announced that it had successfully completed the first milestone stipulated in the license and collaboration agreement signed with GPCR Therapeutics Inc. on January 16.

According to a disclosure filed with the US Securities and Exchange Commission (SEC), this milestone was achieved by Exicure officially submitting the Clinical Study Report for a new stem cell mobilizer-considered a key drug candidate in the field of regenerative medicine-currently under development, to the US Food and Drug Administration (FDA).

In accordance with the contract terms, Exicure is scheduled to pay GPCR Therapeutics 1 million US dollars (approximately 1.4 billion KRW) within 30 days of achieving the milestone.

An Exicure representative stated, "This milestone achievement reflects the progress in the development of Burixafor (GPC-100), a small molecule drug in the CXCR4 inhibitor class. It also affects the revenue sharing ratio for subsequent sublicense (re-license) agreements and indicates an increase in Exicure's participation share in the program."