XCUR - Exicure says development collaborations with AbbVie Ipsen terminated

• Exicure ( NASDAQ: XCUR ) said its collaboration agreements with AbbVie ( ABBV ) and Ipsen BioPharm were terminated.
• Exicure and AbbVie terminated their agreement related to the development programs targeting hair loss disorders. Meanwhile, Ipsen BioPharm, part of Ipsen ( OTCPK:IPSEY ) ( OTCPK:IPSEF ) and Exicure terminated their contract pertaining to the development programs targeting Angelman syndrome and Huntington's disease.
• Exicure added that it regains the ability to independently develop drugs targeting hair loss disorders, Angelman syndrome, and Huntington's disease.
• Ipsen retains the right to re-enter into the collaboration with Exicure in Huntington's Disease and Angelman's Syndrome, according to the company.
• "They were both tremendous companies to be associated with and extremely helpful and collaborative in developing and advancing the terminated discovery programs. In addition to these actions, Exicure is exploring strategic alternatives focused on maximizing stockholder value," said Exicure CEO Matthias Schroff.
• In September, Exicure had announced a series of strategic actions, including workforce reduction of ~66% and halt to its research and development activities and its pre-clinical studies.

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