XERS - Xeris inks $71M Ogluo commercialization agreement with Tetris Pharma

Xeris Pharmaceuticals (XERS) has signed an exclusive agreement with Tetris Pharma for the commercialization of Ogluo in a deal worth as much as $71M.The agreement, in the European Economic Area, United Kingdom, and Switzerland, allows for the treatment of severe hypoglycaemia in adults, adolescents, and children aged 2 years and over with diabetes mellitus.Xeris will receive up to $71M in payments tied to the first commercial sale and other time-, launch- and sales-related milestones and collect a royalty on net sales.Under the terms of the deal, Xeris will be responsible for product supply and Tetris will be responsible for the commercialization of Ogluo in the region.The first launch of the product is expected in the fourth quarter of 2021 in the United Kingdom.Shares up nearly 1% premarket.The company had received UK MHRA approval for Ogluo, in April.

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Xeris inks $71M Ogluo commercialization agreement with Tetris Pharma