Exicure, Inc. Reports Full Year 2017 Financial Results and Corporate Progress
Launched Phase 1 clinical trial of AST-008, a TLR9 agonist for immuno-oncology
SKOKIE, IL - March 09, 2018 - Exicure, Inc., the pioneer in gene regulatory and immunotherapeutic drugs utilizing three-dimensional, spherical nucleic acid (SNA™) constructs, today reported full year financial results for the year ended December 31, 2017 and provided an update on corporate progress.
“Exicure is realizing the promise of our SNA technology through ongoing clinical advancements, including the launch of a Phase 1 clinical trial of AST-008, our TLR9 agonist being developed for immuno-oncology applications,” said Dr. David Giljohann, Chief Executive Officer of Exicure. “2017 was a foundational and transformative year for Exicure. By raising approximately $31.5 million in gross proceeds through a private placement financing and completion of a reverse merger, the company has the capital resources to drive our therapeutic pipeline into 2019. In 2018, we anticipate Phase 1 results from both AST-008, and XCUR17, our therapeutic candidate for psoriasis.”
Launched the Phase 1 clinical trial
of AST-008, a TLR9 agonist for immuno-oncology applications. Received authorization from Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom to conduct a Phase 1 clinical trial of AST-008. The company began dosing healthy subjects during the fourth quarter of 2017.
Filed a clinical trial application for XCUR17. In February of 2018, Exicure received approval from Bundesinstitut für Arzneimittel und Medizinprodukte (BfArM), the medical regulatory body in Germany, to conduct a Phase 1 clinical trial.
Completed reverse merger transaction and private placement financing. Through a series of steps beginning on September 26, 2017, Exicure completed a reverse merger and raised approximately $31.5 million in gross proceeds through a private placement of its common shares.
Advanced towards public market trading. Exicure’s Form S-1 was declared effective on February 6, 2018. The company currently awaits FINRA’s approval of Form 211. Subsequent to FINRA approval, the company will finalize steps to be represented on the OTCQB market.
Strengthened management team. Jocelyn Trokenheim joined the company as Vice President, Head of Business Development. Ms. Trokenheim most recently served as Vice President of Corporate Development at Takeda Pharmaceuticals where she was responsible for global strategic transactions, such as large-scale M&A, divestitures and strategic partnering.
AST-008: AST-008 is an SNA consisting of toll-like receptor 9, or TLR9, agonists designed for immuno-oncology applications. The company began subject dosing of AST-008 in a Phase 1 clinical trial during the fourth quarter 2017 and expects this trial to be completed in mid-2018. This clinical trial is evaluating the safety, tolerability, pharmacokinetics, and pharmacodynamics of single and multiple doses by subcutaneous administration in healthy subjects. The company ultimately plans to clinically advance AST-008 in combination with checkpoint inhibitors.