Exicure (XCUR) said late Thursday it signed a memorandum of understanding with GPCR Therapeutics for the acquisition of the South Korean company's US subsidiary, GPCR USA, to advance its growth as a clinical-stage biotech firm.
Exicure plans to purchase all the shares of GPCR USA to secure key technical personnel. The financial terms of the acquisition weren't disclosed.
The MoU also includes the technology transfer of GPCR Therapeutics' CXCR4 inhibitor, which is currently in phase 2 clinical trials with the Food and Drug Administration.
Exicure also aims to carry out collaborative research and development with GPCR Therapeutics for its ongoing research in immuno-oncology, fibrosis treatments and obesity therapies.
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