Exicure (XCUR) said late Wednesday it has agreed to acquire all shares of GPCR Therapeutics USA, a subsidiary of GPCR Therapeutics, a Korean corporation.
In connection with the deal, Exicure and GPCR made a licensing and collaboration agreement to further develop and commercialize certain GPCR technologies, the company said.
Financial terms were not disclosed.
Under the agreement, Exicure is to pay GPCR milestone payments upon reaching specific milestone events relating to clinical trials, marketing authorizations, and net sales, as well as a recurring royalty payment based on at least 10% of net sales, the company said.
Shares of Exicure were up more than 46% in Wednesday's after-hours activity.
Price: 15.21, Change: +4.84, Percent Change: +46.67
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