For development and commercialization of a new
and unique formulation of liquid stable glucagon for use in a
bi-hormonal pump and pump systems
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a growth-oriented
biopharmaceutical company committed to improving patient lives by
developing and commercializing innovative products across a range
of therapies, today 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.
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“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.
About Xeris
Xeris (Nasdaq: XERS) 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.
Xeris Biopharma Holdings is headquartered in Chicago, IL. For
more information, visit www.xerispharma.com, or follow us on X,
LinkedIn, or Instagram.
About Beta Bionics
Beta Bionics is a medical technology company focused on the
design, development, and commercialization of its iLet Bionic
Pancreas in both the single hormone and bi-hormonal configurations.
The iLet Bionic Pancreas platform is designed to use adaptive,
self-learning, control algorithms, together with continuous glucose
monitoring and pump technology, to autonomously compute and
administer doses of insulin and/or glucagon and mimic the body’s
natural ability to maintain tight glycemic control, relieving some
of the burden of living with diabetes. To learn more, visit
www.betabionics.com.
Beta Bionics is a for-profit, public benefit corporation and
Certified B Corporation. Since its founding in 2015, its mission
has been to help improve health outcomes and the quality of life of
children and adults living with diabetes and other conditions of
glycemic dysregulation.
Forward-Looking Statements
Any statements in this press release other than statements of
historical fact are forward-looking statements. Forward-looking
statements include, but are not limited to, statements about future
expectations, plans and prospects for Xeris Biopharma Holdings,
Inc., including the development and potential of a glucagon product
utilizing Xeris’ XeriSol™ technology, the expectations regarding
future product development efforts between Xeris and Beta Bionics,
Xeris’ potential entitlements to milestone and royalty payments
from Beta Bionics, the potential utility of its formulation
platforms such as XeriSol™, the market and therapeutic potential of
its products and product candidates, and other statements
containing the words “will,” “would,” “continue,” “expect,”
“should,” “anticipate” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. 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, geopolitical factors 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 various factors that could cause Xeris’ actual results,
performance or achievements, industry results and developments to
differ materially from those expressed in or implied by such
forward-looking statements, include, but are not limited to, its
financial position and need for financing, including to fund its
product development programs or commercialization efforts, whether
its products will achieve and maintain market acceptance in a
competitive business environment, its reliance on third-party
suppliers, including single-source suppliers, its reliance on third
parties to conduct clinical trials, the ability of its product
candidates to compete successfully with existing and new drugs, and
its and collaborators’ ability to protect its intellectual property
and proprietary technology. No assurance can be given that such
expectations will be realized and persons reading this
communication are, therefore, cautioned not to place undue reliance
on these forward-looking statements. Additional risks and
information about potential impacts of financial, operational,
economic, competitive, regulatory, governmental, technological, and
other factors that may affect Xeris can be found in Xeris’ filings,
including its most recently filed Annual Report on Form 10-K filed
with the Securities and Exchange Commission, the contents of which
are not incorporated by reference into, nor do they form part of,
this communication. Forward-looking statements in this
communication are based on information available to us, as of the
date of this communication and, while we believe our assumptions
are reasonable, actual results may differ materially. Subject to
any obligations under applicable law, we do 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.
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Xeris Investor Contact Allison Wey Senior Vice President,
Investor Relations and Corporate Communications
awey@xerispharma.com
Beta Bionics Media Contact Karen Hynes Vice President,
Marketing (619) 206-9811 khynes@betabionics.com
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