Xeris license pact with $75M potential for Xeriject formulation of teprotumumab

Xeris Biopharma Holdings (XERS) announced that it has entered into an exclusive worldwide license agreement for Amgen (AMGN) to develop, manufacture, and commercialize a subcutaneous formulation of teprotumumab using Xeris’ XeriJect technology in Thyroid Eye Disease a serious, progressive and potentially vision-threatening rare autoimmune disease. Teprotumumab-trbw is known as TEPEZZA in the United States. “We are very excited that our partner is moving forward with licensing the XeriJect technology to further the development of the XeriJect subcutaneous teprotumumab to potentially enhance the patient experience and delivery of the treatment for Thyroid Eye Disease. This agreement to license XeriJect further validates the potential value of our technology to enable large molecule subcutaneous injections that provide a more patient friendly regimen that is effective, safe, and more convenient, with potential for improved adherence,” said Paul R. Edick, Chairman and CEO of Xeris. “We will move quickly to support our partner in this important development program.” Under the terms of the License Agreement, Xeris has the potential to receive $75 M in development and regulatory milestones, plus sales-based milestones, as well as escalating single-digit royalties based on future sales of TEPEZZA using the XeriJect technology.