Xeris Pharmaceuticals Enters Collaboration Agreement With Merck
October 25 2021 - 7:30AM
Business Wire
Collaboration and option to license the
XeriJect™ technology
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a
biopharmaceutical company developing and commercializing unique
therapies for patient populations in endocrinology, neurology, and
gastroenterology, today announced a collaboration agreement with
Merck , with an option to license Xeris’ suspension-based
formulation technology, XeriJect™, for use with undisclosed
monoclonal antibodies (mAbs) for the purpose of engineering
ultra-high concentration, ready-to-use formulations. Terms of the
agreement were not disclosed.
“We are quite excited to be working closely with Merck on this
opportunity using our novel platform technology, XeriJect,” said
Paul R. Edick, Chairman and CEO of Xeris Biopharma. “The XeriJect
platform has broad applicability in improving the delivery of large
molecules, such as monoclonal antibodies. This is another in a
series of collaborations Xeris has undertaken with top 10 pharma
companies evaluating the XeriJect technology.”
Mr. Edick continued, "These collaborations are important to
validating our technology. We recognize they take time to complete
and thus, they are not immediately critical to our near-term core
business. However, should Merck exercise the negotiated license
agreement, they could be very valuable to Xeris. It is the
continued growth of Gvoke® and Keveyis®, the potential for the
approval and launch of Recorlev, a pipeline supported by our novel
technologies, our strong cash balance, and an expected $50 million
in synergies from the Strongbridge acquisition that puts Xeris in a
solid financial position.”
About Xeris Biopharma Holdings
Xeris (Nasdaq: XERS) is a biopharmaceutical company developing
and commercializing unique therapies for patient populations in
endocrinology, neurology, and gastroenterology. Xeris has two
commercially available products, Gvoke®, a ready-to-use liquid
glucagon for the treatment of severe hypoglycemia and Keveyis®, the
first and only FDA-approved therapy for primary periodic paralysis.
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.
Xeris Biopharma Holdings is headquartered in Chicago, IL. For
more information, visit www.xerispharma.com, or follow us on
Twitter, LinkedIn, or Instagram.
Forward-Looking Statements
Any statements in this press release about future expectations,
plans and prospects for Xeris Biopharma Holdings, Inc. including
statements regarding the market and therapeutic potential of its
products and product candidates, expectations regarding clinical
data or results from planned clinical trials, estimates and
projections about the potential benefits of the Strongbridge
Biopharma acquisition, estimates and expectations regarding
potential collaborations, the timing or likelihood of regulatory
approval and commercialization of its product candidates, the
timing or likelihood of expansion into additional markets, the
timing or likelihood of identifying potential development and
commercialization partnerships, the potential utility of its
formulation platforms and other statements containing the words
“will,” “would,” “continue,” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially from those indicated in the
forward-looking statements. Such risks and uncertainties include,
but are not limited to, failure to realize the expected benefits of
the acquisition, failure to promptly and effectively integrate
Strongbridge’s businesses, general economic and business conditions
that affect the combined companies following the consummation of
the acquisition, the impact of the COVID-19 pandemic on the
combined businesses following the consummation of the transaction,
changes in global, political, economic, business, competitive,
market and regulatory forces, future exchange and interest rates,
changes in tax laws, regulations, rates and policies, future
business acquisitions or disposals and competitive developments.
These forward-looking statements are based on numerous assumptions
and assessments made in light of Xeris’ experience and perception
of historical trends, current conditions, business strategies,
operating environment, future developments, and other factors it
believes appropriate. By their nature, forward-looking statements
involve known and unknown risks and uncertainties because they
relate to events and depend on circumstances that will occur in the
future. The factors described in the context of such
forward-looking statements in this communication could cause Xeris’
plans with respect to Strongbridge, Xeris’ plans with respect to
XeriJect, Xeris’ actual results, performance or achievements,
industry results and developments to differ materially from those
expressed in or implied by such forward-looking statements.
Although it is believed that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct and
persons reading this communication are therefore cautioned not to
place undue reliance on these forward-looking statements which
speak only as at the date of this communication. Additional
information about economic, competitive, governmental,
technological, and other factors that may affect Strongbridge is
set forth in Item 1A, “Risk Factors,” in Strongbridge’s 2020 Annual
Report on Form 10-K, which has been filed with the SEC, the
contents of which are not incorporated by reference into, nor do
they form part of, this communication. Any forward-looking
statements in this communication are based upon information
available to Xeris, as of the date of this communication and, while
believed to be true when made, may ultimately prove to be
incorrect. Subject to any obligations under applicable law, Xeris
does not undertake any obligation to update any forward-looking
statement whether as a result of new information, future
developments or otherwise, or to conform any forward-looking
statement to actual results, future events, or to changes in
expectations. All subsequent written and oral forward-looking
statements attributable to Xeris or any person acting on behalf of
any of them are expressly qualified in their entirety by this
paragraph.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211025005168/en/
Xeris Investor Contact Allison Wey Senior Vice President,
Investor Relations and Corporate Communications
awey@xerispharma.com 312-736-1237
Xeris Biopharma (NASDAQ:XERS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Xeris Biopharma (NASDAQ:XERS)
Historical Stock Chart
From Jul 2023 to Jul 2024