Xeris Biopharma Holdings, Inc., a growth-oriented biopharmaceutical company committed to improving patient lives by developing and commercializing innovative products across a range of therapies, announced that it has entered into an exclusive worldwide collaboration and license agreement with Beta Bionics, Inc. for the development and commercialization of a glucagon product utilizing Xeris’ XeriSol™ technology for use in Beta Bionics’ proprietary bi-hormonal pump and pump systems.
“We’re excited to be partnering with Beta Bionics by being the exclusive provider of the glucagon component that will facilitate their development of the first dual-hormone pump for people with diabetes,” said Paul R. Edick, Chairman and CEO of Xeris. “We will move quickly to support Beta Bionics in this important development program.”
“If insulin is like the gas pedal in your car, then glucagon is the brakes,” said Sean Saint, CEO of Beta Bionics. “Beta Bionics has always felt that a bi-hormonal glucose control system has real advantages over insulin alone…just like the brakes in your car. Now with this partnership with Xeris, we are ready to take the next step in bringing this system to market.”
Under the terms of the License Agreement, Xeris has the potential to receive development payments, plus low double-digit royalties based on future sales of the Xeris glucagon for pumps and pump systems.
Xeris is a growth-oriented biopharmaceutical company committed to improving patients’ lives by developing and commercializing innovative products across a range of therapies. Xeris has three commercially available products; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, Keveyis®, for a proven therapy for primary periodic paralysis, and Recorlev® for the treatment of endogenous Cushing’s syndrome. Xeris also has a 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.
SOURCE: Businesswire