Xeris amends commercial terms for hypoglycemia therapy as partner inks buyout deal

Aug. 01, 2022 8:09 AM ETXeris Biopharma Holdings, Inc. (XERS)By: Dulan Lokuwithana, SA News Editor

Deal or no deal? Hand turns a cube and changes the word "no" to "yes".

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  • Xeris Biopharma (NASDAQ:XERS) announced on Monday that the terms of its commercialization agreement for hypoglycemia therapy Ogluo would change as UK-based Arecor Therapeutics has agreed to acquire its partner Tetris Pharma.
  • In July 2021, Xeris (XERS) joined hands with Tetris to commercialize Ogluo in the European Economic Area, U.K., and Switzerland for severe hypoglycemia in patients with diabetes mellitus.
  • Per the terms of the buyout deal, Arecor has agreed to continue the sales of Ogluo in EEA and the U.K. even after the acquisition.
  • However, the deal includes an amendment to the 16-year minimum term license and supply agreements for Ogluo sales in the region. Accordingly, Xeris (XERS) is entitled to mid-single-digit royalty on net sales of the therapy in addition to one-off commercial milestone payments if net revenues for a particular year exceed pre-defined thresholds.
  • The initial agreement between Xeris (XERS) and Tetris for Ogluo was worth as much as $71M.

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