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Home>Exicure, Inc. Raises $20 Million

Exicure, Inc. Raises $20 Million

Exicure, Inc. Raises $20 Million

09/28/2017

Exicure, Inc. Raises $20 Million

Exicure, Inc. Successfully Completes Reverse Merger and Closes $20 Million Private Placement to Advance Its Gene Regulatory and Immunotherapeutic Programs

Exicure, Inc., the pioneer in developing three-dimensional Spherical Nucleic Acid (SNA™) constructs as gene regulatory and immunotherapeutic agents, today announced the closing of a $20 million private placement financing and the completion of a reverse merger transaction, with Max-1 Acquisition Corporation. Following the reverse merger transaction, Max-1 changed its name to Exicure, Inc. (the “Company”), and will continue the historical business of Exicure.

The Company announced that current investors, including AbbVie Ventures, the investment arm of AbbVie, Bill Gates, Eric Lefkofsky, Chairman and Co-founder of Groupon, Craig Mundie, previous Chief Research and Strategy Officer at Microsoft, the Rathmann Family Foundation, Patrick G. Ryan, founder and retired CEO of Aon and Chairman and CEO of Ryan Specialty Group, and David Walt, Co-founder of Illumina and a Company Director, have invested alongside new investors led by Mark Tompkins and Katalyst Securities LLC. Net proceeds from the transaction will be used primarily for research, pre-clinical and clinical development and for general and working capital purposes.

Previous members of Exicure’s board of directors Chad A. Mirkin, Ph.D., C. Shad Thaxton, M.D., Ph.D., David R. Walt, Ph.D., Jay R. Venkatesan, Ph.D., Helen S. Kim, and David A. Giljohann, Ph.D., will remain as directors of the Company.

The offering was exempt from registration under Section 4(a)(2) of the United States Securities Act of 1933, as amended, and Rule 506 of Regulation D promulgated by the U.S. Securities and Exchange Commission (“SEC”) thereunder. The Common Stock in the offering was sold to “accredited investors,” as defined in Regulation D, and was conducted on a “reasonable best efforts” basis.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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