Exicure, Inc. (NASDAQ: XCUR) and Korea‑based biotechnology company Adbiotech Co., Ltd. (KOSDAQ: 179530) announced a co‑development agreement that will evaluate combination strategies using Exicure’s small‑molecule CXCR4 antagonist, GPC‑100 (burixafor), across several hematologic and solid‑tumor indications, including sickle cell disease, acute myeloid leukemia and select solid tumors.
Under the agreement, Adbiotech will conduct in‑vivo studies and support preclinical validation and translational research, while Exicure will provide the drug and lead the clinical and regulatory strategy. The parties plan to advance selected programs into IND‑enabling studies and clinical trials, and will seek funding to support future development. The collaboration builds on burixafor’s Phase 2 success in multiple myeloma, where the drug achieved a 90% success rate in stem‑cell mobilization.
In the Phase 2 trial, 17 of 19 patients (89.5%) collected at least 2 × 10⁶ CD34⁺ cells/kg within two leukapheresis sessions, confirming burixafor’s potency and positioning it as a strong candidate for broader therapeutic use.
Exicure’s financial results for 2025 show a net loss of $4.9 million, a decrease from $9.7 million in 2024, and cash and cash equivalents of $3.7 million as of December 31 2025, down from $12.5 million in 2024. Management has indicated that current liquidity may not support operations for the next 12 months without additional financing, and the company is exploring strategic alternatives to maximize shareholder value.
Investors have expressed concern over Exicure’s liquidity and ongoing net losses, leading to a downgrade of the stock by several analysts. The co‑development agreement is viewed as a positive step toward expanding burixafor’s commercial prospects, but the company’s financial fragility remains a key headwind.
A representative of Exicure said, 'This agreement represents an important step in expanding the evaluation of Burixafor in combination approaches across multiple indications.'
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