- Xeris Pharmaceuticals Inc (NASDAQ:XERS) has entered into an exclusive agreement with Tetris Pharma Limited to commercialize Ogluo in the European Economic Area, the U.K., and Switzerland.
- Ogluo is indicated to treat severe hypoglycemia in adults, adolescents, and children aged two years and over with diabetes mellitus.
- Xeris will be responsible for product supply, and Tetris will be responsible for the commercialization of Ogluo in the Territory.
- Xeris will receive up to $71 million in payments tied to the first commercial sale and other related milestone payments and collect a royalty on net sales.
- The Company expects to launch Ogluo in the U.K. by the end of 2021 and at least seven additional countries by mid-2022.
- Xeris estimates there are more than five million patients on insulin and at risk of severe hypoglycemia in the Territory, with only an estimated 10-20% having a prescription for glucagon.
- Price Action: XERS shares are down 1.30% at $3.42 during the market session on the last check Monday.
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