Xeris Biopharma Holdings (NASDAQ:XERS) said it has entered into a research collaboration and option agreement with Horizon Therapeutics PLC.
Under the terms of the agreement, Xeris will use its proprietary formulation technology platform, XeriJect, to develop an ultra-concentrated, ready-to-use, subcutaneous injection of teprotumumab and Horizon will have an option to license the Xeris technology.
Teprotumumab is the first and only medicine approved by the US Food and Drug Administration (FDA) for the treatment of Thyroid Eye Disease (TED) – a serious, progressive and potentially vision-threatening rare autoimmune disease. Teprotumumab-trbw is known as TEPEZZA in the United States.
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Xeris will receive an upfront payment, and may be entitled to receive development milestones, regulatory milestones, and sales-based milestones, as well as royalties based on future sales if the commercial license option is exercised. Specific financial terms of the agreement were not disclosed.
“We are excited to announce our collaboration with Horizon for the development of a subcutaneous formulation of teprotumumab using our XeriJect technology to potentially enhance the patient experience and delivery of the treatment for Thyroid Eye Disease,” said Paul R. Edick, chairman and CEO of Xeris in a statement.
“This partnership demonstrates the potential value of our technology to enable large molecule subcutaneous injections that provide a more patient-friendly regimen that is effective, safe, and more convenient, with potential for improved adherence," he added.
Xeris is a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies.
The company has three commercially available products; Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis, the first and only FDA-approved therapy for primary periodic paralysis, and Recorlev for the treatment of endogenous Cushing’s syndrome.
Xeris also has a robust pipeline of development programs to extend the current marketed products into important new indications and uses and bring new products forward using its proprietary formulation technology platforms, XeriSol and XeriJect, supporting long-term product development and commercial success.
Contact the author at jon.hopkins@proactiveinvestors.com