Exicure, Inc. and Bluejay Therapeutics Inc. Enter into a Patent License Agreement to Develop Cavrotolimod for the Treatment of Hepatitis
CHICAGO--(BUSINESS WIRE)-- Exicure, Inc., (NASDAQ:XCUR) a company that historically developed nucleic acid therapies, and Bluejay Therapeutics, Inc., a private clinical stage biopharmaceutical company focused on viral and liver diseases, announced today that Bluejay Therapeutics, Inc. ("Bluejay") and Exicure, Inc. ("Exicure") entered into a patent license agreement to develop cavrotolimod for potential treatment for hepatitis.
Under the terms of the agreement, Bluejay will receive an exclusive license in the field of hepatitis to all of Exicure’s relevant patents. Bluejay paid Exicure an initial small, one-time payment after the execution of this Agreement. Exicure will also be entitled to modest royalties on future net sales on all licensed technology by Bluejay during the term of the licensed patents. Exicure will be responsible for, and make all decisions concerning, the preparation, filing, prosecution, and maintenance for each patent and patent application included within the licensed patents.
"Our partnership with Bluejay continues the development of cavrotolimod," said Paul Kang, Chief Executive Officer of Exicure. "Exicure has spent considerable resources to discover and develop cavrotolimod. While historically, we focused on oncology, Bluejay’s commitment and expertise in developing cavrotolimod for potential treatment of hepatitis makes them an ideal partner to expand the use case of cavrotolimod," added Mr. Kang.
About Exicure
Exicure, Inc. has historically been an early-stage biotechnology company focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. Following its recent restructuring and suspension of clinical and development activities, the Company is exploring strategic alternatives to maximize stockholder value, both with respect to its historical biotechnology assets and more broadly. For further information, see www.exicuretx.com.
Forward-Looking Statements
