(RTTNews) - Biopharmaceutical company Xeris Biopharma Holdings, Inc. (XERS) announced Wednesday that it has entered into a research collaboration and option agreement with Horizon Therapeutics plc (HZNP).
Under the terms of the agreement, Xeris will use its proprietary formulation technology platform, XeriJect, to develop an ultra-concentrated, ready-to-use, subcutaneous injection of teprotumumab and Horizon will have an option to license the Xeris technology.
Teprotumumab is the first and only medicine approved by the U.S. Food and Drug Administration (FDA) for the treatment of Thyroid Eye Disease (TED) - a serious, progressive and potentially vision-threatening rare autoimmune disease. Teprotumumab-trbw is known as TEPEZZA in the United States.
Xeris will receive an upfront payment, and may be entitled to receive development milestones, regulatory milestones, and sales-based milestones, as well as royalties based on future sales if the commercial license option is exercised. However, specific financial terms of the agreement were not disclosed.
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