CHICAGO, Aug. 3, 2020 /PRNewswire/ -- GTCR, a leading
private equity firm, announced today that its TerSera Therapeutics
LLC ("TerSera") portfolio company has entered into a definitive
agreement to acquire the product Xermelo® (telotristat ethyl) from
Lexicon Pharmaceuticals, Inc. ("Lexicon"; NASDAQ:LXRX) for an
upfront purchase price of approximately $159
million plus potential milestone payments based on
development and commercialization of Xermelo in a new
indication.
Xermelo is the first and only approved oral therapy for
carcinoid syndrome diarrhea (CSD), a debilitating condition caused
by metastatic neuroendocrine tumors. Xermelo was approved by the
FDA in February 2017 for use in
combination with somatostatin analog (SSA) therapy in adults
inadequately controlled by SSA therapy. The product is also being
investigated in a Phase 2 clinical study for the treatment of
biliary tract cancer tumors.
The add-on acquisition of Xermelo expands TerSera's existing
oncology portfolio and is another example of the GTCR Leaders
Strategy™ at work. TerSera is GTCR's third partnership with
Chairman and CEO Ed Fiorentino
having previously partnered together to build Crealta
Pharmaceuticals and Actient Pharmaceuticals. Through a series
of seven acquisitions since 2017, TerSera has built a portfolio of
on-market and development assets focused on the therapeutic areas
of oncology and non-opioid pain. The acquisition of Xermelo further
expands the company's oncology franchise, which also includes the
products Zoladex® (goserelin acetate implant) and Varubi®
(rolapitant).
"Xermelo is a great addition to the TerSera portfolio, which now
includes six commercial products in two attractive therapeutic
areas," said Dean Mihas, Managing Director at GTCR. "This
acquisition further demonstrates our commitment to the Leaders
Strategy™, having partnered with Ed three
times and built three unique, growing specialty pharmaceutical
companies."
Mr. Fiorentino added: "Xermelo continues to gain an increasingly
important role in carcinoid syndrome diarrhea with a potential
future role in other cancers. We are very excited to add Xermelo to
our existing oncology portfolio and appreciate the support of GTCR
as we've built another specialty pharmaceutical company focused on
making a difference for patients."
"With the addition of Xermelo, TerSera has become an even
larger, more diversified specialty pharmaceutical business," noted
Ben Daverman, Managing Director at
GTCR. "We look forward to continuing to support Ed and the TerSera
team as we further buildout the franchise and portfolio of unique,
growing products."
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused
on investing in growth companies in the Healthcare, Financial
Services & Technology, Technology, Media &
Telecommunications, and Growth Business Services industries.
The Chicago-based firm pioneered
The Leaders Strategy™ – finding and partnering with management
leaders in core domains to identify, acquire and build
market-leading companies through transformational acquisitions and
organic growth. Since its inception, GTCR has invested more
than $18 billion in over 200
companies. For more information, please visit www.gtcr.com.
About TerSera Therapeutics
TerSera Therapeutics acquires, develops and markets specialty
pharmaceutical products with a focus on oncology and non-opioid
pain. Its mission is to provide products which truly make a
difference for patients. For more information about TerSera
Therapeutics, please visit www.tersera.com.
About XERMELO (telotristat ethyl)
XERMELO is the first and only approved oral therapy for
carcinoid syndrome diarrhea. XERMELO targets tryptophan
hydroxylase, an enzyme that mediates the excess serotonin
production within metastatic neuroendocrine tumor (mNET) cells.
XERMELO is approved in the United
States, the European Union and certain additional countries
for the treatment of carcinoid syndrome diarrhea in combination
with somatostatin analog (SSA) therapy in adults inadequately
controlled by SSA therapy. Carcinoid syndrome is a rare condition
that occurs in patients living with mNETs and is characterized by
frequent and debilitating diarrhea. XERMELO targets the
overproduction of serotonin inside mNET cells, providing an
additional treatment option for patients suffering from carcinoid
syndrome diarrhea.
XERMELO (telotristat ethyl) Important Safety
Information
- Warnings and Precautions: XERMELO may cause constipation, which
can be serious. Monitor for signs and symptoms of constipation
and/or severe, persistent, or worsening abdominal pain in patients
taking XERMELO. Discontinue XERMELO if severe constipation or
severe, persistent, or worsening abdominal pain develops.
- Adverse Reactions: The most common adverse reactions (≥5%)
include nausea, headache, increased gamma-glutamyl-transferase,
depression, flatulence, decreased appetite, peripheral edema, and
pyrexia.
- Drug Interactions: If necessary, consider increasing the dose
of concomitant CYP3A4 substrates, as XERMELO may decrease their
systemic exposure. If combination treatment with XERMELO and
short-acting octreotide is needed, administer short-acting
octreotide at least 30 minutes after administering XERMELO.
For more information about XERMELO, see Full Prescribing
Information at www.xermelo.com.
Media Contact: Kellie Kennedy,
312-933-4903, kelliek@theharbingergroup.com
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SOURCE GTCR