Document:

Exicure Exhibit 10.23 12/31/19

Exhibit 10.23

	
				
	Innovation and 
	Northwestern University
	Phone 847-467-2097
	Northwestern |INVO

	New Ventures Office
	1800 Sherman Ave, Suite 504
	invo.northwestern.edu
	Innovation and New Ventures

	 
	Evanston, IL 60201
	 
	 

          January 1, 2019

                   David A Giljohann, Ph.D. 
                   Chief Executive Officer 
                   Exicure, Inc.
                   8045 Lamon Ave.
                   Skokie, IL 60077

Re:     Amendment Three to the Restated License Agreement with an effective date of December 12, 2011 between Exicure, Inc. ("Exicure") and Northwestern University ("Northwestern") as previously amended on November 30, 2017, and on September 27, 2016 (collectively the "Agreement".)

Dear David:

This letter agreement memorializes the understanding reached between Northwestern and Exicure regarding the third amendment to the Agreement ("Amendment Three"). Unless otherwise defined in this Amendment Three, capitalized terms shall have the meaning assigned to them in the Agreement.

Subject to the terms and conditions of the Agreement and Exicure's compliance therewith, the parties hereby agree as follows:

1.Exhibit A of the Agreement is amended and incorporated herein by reference.

2.Section 9.2 shall be replaced in its entirety with the following:
Licensee shall obtain and carry in full force and effect commercial, general liability insurance which shall protect Licensee and Northwestern with respect to events covered by Section 9.1 above. Such insurance shall be written by a reputable insurance company authorized  to do business in the State of Illinois, naming Northwestern as an additional insured thereunder, shall be endorsed to include product liability coverage and shall require thirty (30) days written notice to be given to Northwestern prior to any cancellation or material change thereof. By the time of commencement of human clinical trials of any Licensed Product, the limits of such insurance shall not be less than Three Million Dollars ($3,000,000) per occurrence with an aggregate of Three Million Dollars ($3,000,000) for personal injury or death, and property damage insurance coverage in such amounts as is reasonable at the time for similarly situated companies engaged in similar business. Licensee shall provide Northwestern with Certificates of Insurance evidencing the same.

3.All other terms and conditions of the Agreement shall remain in full force and effect as amended hereby.

By signing below, the parties hereby execute this valid and binding agreement effective as of the date listed above.
	
			
	NORTHWESTERN UNIVERSITY
	 
	EXICURE, INC.

	/s/ Alicia Löffler, Ph.D.
	 
	/s/ David A. Giljohann, Ph.D.

	Alicia Löffler, Ph.D.
	 
	David A. Giljohann, Ph.D.

	Associate Vice President for Research
	 
	Chief Executive Officer

	and Executive Director, INVO
	 
	 

THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.

	
				
	Innovation and 
	Northwestern University
	Phone 847-467-2097
	Northwestern |INVO

	New Ventures Office
	1800 Sherman Ave, Suite 504
	invo.northwestern.edu
	Innovation and New Ventures

	 
	Evanston, IL 60201
	 
	 

    
Exhibit A:

	
								
	NU ID
	Filing Date
	Application Number
	Patent Number
	Type
	Country
	Status
	Title

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THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.

	
				
	Innovation and 
	Northwestern University
	Phone 847-467-2097
	Northwestern |INVO

	New Ventures Office
	1800 Sherman Ave, Suite 504
	invo.northwestern.edu
	Innovation and New Ventures

	 
	Evanston, IL 60201
	 
	 

    	
								
	NU ID
	Filing Date
	Application Number
	Patent Number
	Type
	Country
	Status
	Title

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THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.

	
				
	Innovation and 
	Northwestern University
	Phone 847-467-2097
	Northwestern |INVO

	New Ventures Office
	1800 Sherman Ave, Suite 504
	invo.northwestern.edu
	Innovation and New Ventures

	 
	Evanston, IL 60201
	 
	 

	
								
	NU ID
	Filing Date
	Application Number
	Patent Number
	Type
	Country
	Status
	Title

	*****
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THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.

	
				
	Innovation and 
	Northwestern University
	Phone 847-467-2097
	Northwestern |INVO

	New Ventures Office
	1800 Sherman Ave, Suite 504
	invo.northwestern.edu
	Innovation and New Ventures

	 
	Evanston, IL 60201
	 
	 

	
								
	NU ID
	Filing Date
	Application Number
	Patent Number
	Type
	Country
	Status
	Title

	*****
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THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.Exicure Exhibit 10.24 12/31/19

Exhibit 10.24

AMENDMENT NO. 4 
TO
2011 RESTATED LICENSE AGREEMENT

This Amendment No. 4 (this “Amendment”) is entered into as of November 13, 2019 (the “Amendment Effective Date”), by and between Northwestern University, an Illinois not-for-profit corporation with a principal place of business at 633 Clark Street, Evanston, Illinois, 60208 (“Northwestern”), and Exicure, Inc., a Delaware corporation with a principal place of business at 8045 Lamon Avenue, Skokie, Illinois, 60077 (“Exicure”).

RECITALS

		
	A.
	Northwestern and Exicure are parties to that certain Restated License Agreement restated on August 15, 2015 and effective as of December 12, 2011, as amended on September 27, 2016, November 30, 2017 and January 1, 2019 (the “2011 Agreement”).

		
	B.
	Pursuant to the 2011 Agreement, Northwestern granted certain licenses and rights to Exicure under the Patent Rights and the Know-How.

		
	C.
	The parties now desire to enter into this Amendment for the purpose of amending certain terms and conditions of the 2011 Agreement.

NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties agree as follows:

1.Definitions. Except as defined in this Amendment, the capitalized terms used herein shall have the same meanings as ascribed to them in the 2011 Agreement.

		
	2.
	Amendment. Northwestern and Exicure agree to amend the 2011 Agreement as follows:

2.1.The definition of “Field” in Section 1.3 of the 2011 Agreement is hereby deleted in its entirety and replaced by the following:

“1.3   “Field” shall mean the use of nano-particles, nanotechnology, microtechnology or nano-material-based constructs (including, for clarity, the use of liposome technology constructs): (a) as therapeutics or accompanying therapeutics as a means of delivery; and
(b) as cosmetics or accompanying cosmetics as a means of delivery. The Field specifically excludes: (i) all subject matter not expressly provided for in the foregoing as those terms are understood in the art as of September 23, 2009; (ii) diagnostics, including without limitation, theradiagnostics; and (iii) all Restricted Subject Matter even if such Restricted Subject Matter would otherwise fall within the Field.”

2.2.The phrase “in the Field” is hereby deleted from the first sentence of Section 1.9 of the 2011 Agreement.

		
	3.
	Effect of Amendment. All of the terms and conditions of the 2011 Agreement shall continue in full force and effect except as modified by the terms of this Amendment. In the event of any  inconsistency between the terms and conditions of this Amendment and the terms and conditions of the 2011 Agreement, the terms and conditions of this Amendment shall control and govern.

		
	4.
	Counterparts. This Amendment may be executed in two or more counterparts, each of which will

be deemed an original, but all of which together shall constitute one and the same instrument. Once signed, any reproduction of this Amendment made by reliable means (e.g., photocopy, facsimile) is considered an original.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and delivered by their duly authorized representatives as of the Amendment Effective Date.

	
	
	NORTHWESTERN UNIVERSITY

	/s/ Alicia Löffler, Ph.D.

	Alicia Löffler, Ph.D.

	Assoc. Professor, Executive Director

	
	
	EXICURE, INC.

	/s/ David A. Giljohann, Ph.D.

	David A. Giljohann, Ph.D.

	Chief Executive Officer

[Signature page to Amendment No. 4 to 2011 License Agreement]

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