On January 22, 2025 Exicure, Inc. (Nasdaq: XCUR, "the Company", "Exicure"), reported that on January 19, 2025, Exicure Inc. ("the Company") entered into a Share Purchase Agreement with GPCR Therapeutics, Inc., a Korean corporation ("GPCR"), pursuant to which the Company acquired from GPCR all of the issued and outstanding equity securities of GPCR Therapeutics USA Inc., a California corporation ("GPCR USA") (Press release, Exicure, JAN 22, 2025, View Source [SID1234649823]). The transactions contemplated under the Share Purchase Agreement closed concurrently with execution. GPCR USA was, until immediately prior to closing under the Share Purchase Agreement, a wholly owned subsidiary of GPCR.

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In connection with the closing of the Share Purchase Agreement, the Company and GPCR entered into a License and Collaboration Agreement ("L&C Agreement") to further develop and commercialize GPCR’s technologies related to certain intellectual property and patents. The L&C Agreement requires the Company to make milestone payments to GPCR upon the achievement of specific milestone events relating to clinical trials, marketing authorizations, and net sales, as well as for the Company to pay a recurring royalty payment based on at least 10% of net sales, as set forth in the L&C Agreement. For example, Exicure will pay $30 million for the first annual net sales that exceed $400 million, per the L&C Agreement.