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

• Xeris Biopharma ( NASDAQ: XERS ) announced on Monday that the terms of its commercialization agreement for hypoglycemia therapy Ogluo would change as the UK-based biopharmaceutical company 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, United Kingdom, 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 in the region. Accordingly, Xeris ( XERS ) is entitled to mid-single-digit royalty on net sales 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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