Cor­rect­ed: Ab­b­Vie, Ipsen end part­ner­ships with Ex­i­cure fol­low­ing set­backs, job cuts

Ex­i­cure and its two phar­ma­ceu­ti­cal part­ners have for­mal­ly stopped their work on their de­vel­op­ment part­ner­ships as the biotech winds up op­er­a­tions and seeks to sell off its ex­per­i­men­tal drug as­sets.

On Wednes­day, the biotech said that its de­vel­op­ment deals with Ab­b­Vie and Ipsen had been closed down. In 2019, Ab­b­Vie part­nered with Ex­i­cure for $25 mil­lion up­front in a hair-loss drug de­vel­op­ment deal. Two years lat­er, Ipsen had paid $20 mil­lion up­front, with mile­stones worth up to $1 bil­lion, to part­ner on two neu­ro­log­i­cal pro­grams.

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