Exicure, Inc. Announces Appointment of New CEO and CFO and Changes to Board of Directors
23 August 2023 - 11:48PM
Business Wire
Exicure, Inc. (Nasdaq: XCUR), historically an early-stage
biotechnology company focused on developing nucleic acid therapies
targeting ribonucleic acid against validated targets, today
announced that, effective as of August 21, 2023, Paul Kang, a Class
III director, was appointed as Chief Executive Officer of the
Company and Jiyoung Hwang, a Class I director, was appointed as
Chief Financial Officer of the Company. Mr. Kang and Ms. Hwang
succeed Mr. Jung-Sang (Michael) Kim, who stepped down as Chief
Executive Officer and Chief Financial Officer last Friday.
Additionally, effective as of August 21, 2023, the Board also
approved the appointment of Hyuk Joon (Raymond) Ko as a Class III
director, Dongho Lee as a Class I director, and Hojoon Lee as a
Class II director of the Board. The new directors will be replacing
the vacancies created by the resignations of Mr. Kim and Mr.
Changil Ahn last Friday.
“We are glad that management, the Board and our controlling
stockholders are now fully aligned in our strategic vision for the
future of the Company, and we will be focusing on real steps to
maximize value for all stockholders of the Company in the coming
months,” said Mr. Kang of the renewed management and Board.
Additional information about today’s announcement, including
biographical information about Mr. Kang and Ms. Hwang, will be
filed on a Form 8-K with the U.S. Securities and Exchange
Commission.
About Exicure
Exicure, Inc. has historically been an early-stage biotechnology
company focused on developing nucleic acid therapies targeting
ribonucleic acid against validated targets. Following its recent
restructuring and suspension of clinical and development
activities, the Company is exploring strategic alternatives to
maximize stockholder value, both with respect to its historical
biotechnology assets and more broadly. For further information, see
www.exicuretx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements in this press release other than statements of
historical fact may be deemed forward looking including, but not
limited to, statements regarding: the Company’s current business
plans and objectives, including the pursuit of strategic
alternatives to maximize stockholder value. Words such as “plans,”
“expects,” “will,” “anticipates,” “continue,” “advance,”
“believes,” “target,” “may,” “intend,” “could,” and other words and
terms of similar meaning and expression are intended to identify
forward-looking statements, although not all forward-looking
statements contain such terms. Forward-looking statements are based
on management’s current beliefs and assumptions that are subject to
risks and uncertainties and are not guarantees of future
performance. For a discussion of other risks and uncertainties, and
other important factors, any of which could cause the Company’s
actual results to differ from those contained in the
forward-looking statements, see the section titled “Risk Factors”
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022 filed with the Securities and Exchange Commission
on March 27, 2023, as updated by the Company’s subsequent filings
with the Securities and Exchange Commission. All information in
this press release is as of the date of the release, and the
Company undertakes no duty to update this information or to
publicly announce the results of any revisions to any of such
statements to reflect future events or developments, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230823557776/en/
Media: Lavinia Jurkiewicz Exicure, Inc.
Lavinia@exicuretx.com
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