By Stephen Nakrosis

Exicure said that Andy Yoo, a board member and the company's chief restructuring officer, has been named as president and chief executive officer.

Yoo is chairman and the largest shareholder of telecommunications company HiTron Systems. Earlier this week, Exicure shareholders approved a change of control transaction as well as a second investment of $8.7 million from HiTron. HiTron's initial investment of $1.3 million closed in November.

Once the second investments closes, HiTron will become Exicure's largest shareholder, owning over 50% of the company, Exicure said.

Exicure also said Seung Ik Baik was named as chief financial officer and secretary. He succeeds Jiyoung Hwang, who will serve as chief strategic officer, in the CFO position.

Also on Friday, Exicure said Ho Jung John, Chang Keun Choi, Sangwook Song, and Minwoo Kang were named to serve on the board.

Exicure develops therapeutics for immuno-oncology genetic disorders and other indications.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 20, 2024 18:42 ET (23:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.