LYON, France and BOSTON, May 19, 2017 /PRNewswire/ --
Mérieux Développement has recently concluded an equity investment into Xeris Pharmaceuticals, Inc., a specialty biopharmaceutical company focused on the development and commercialization of novel formulations of injectable drugs. With this additional financing, Xeris Pharmaceuticals expects to fund registration trials and the commercial launch of Xeris' lead product, G-Pen a novel glucagon injection for treatment of severe hypoglycemia, as well as clinical validation of novel products leveraging Xeris' unique formulation platform.
"I very much appreciate the insights and connections which Mérieux Développement has brought to us over the last few months," said Paul Edick, President and CEO of Xeris Pharmaceuticals, Inc. He continued: "We look forward to receiving additional contribution from our premier investors, to help further advance Xeris' portfolio and commercial strategy in the US and internationally."
Francois Valencony, General Manager of Mérieux Développement, added: "Xeris' team has unique capabilities and know-how allowing them to develop products which we think can deliver substantial value to diabetes patients and healthcare systems globally, including the first soluble, stable, ready-to-inject glucagon for use by people with diabetes and other indications with currently high unmet medical needs."
About Xeris Pharmaceuticals, Inc. -http://www.xerispharma.com
Xeris is an Austin, Texas-based, specialty biopharmaceutical company developing improved and differentiated injectable therapeutics for multiple indications including diabetes. The company's proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intradermal delivery of highly concentrated, non-aqueous, ready-to-inject formulations of peptides, proteins, antibodies and small molecules using auto-injectors, multi-dose pens and pumps. Xeris' proprietary formulation platforms have the potential to offer distinct advantages over existing products and formulations including: up to 1000-fold lower injection volumes, long term room-temperature stability, elimination of reconstitution and refrigeration, all of which can lead to products that are easier to use by patients, caregivers, health practitioners, and can reduce costs for payers and the healthcare system.
About Mérieux Développement -http://www.merieux-developpement.com
Mérieux Développement is the investment fund of Institut Mérieux specialized in venture capital and growth equity transactions in the healthcare and nutrition sectors. Mérieux Développement supports entrepreneurs and companies with products or services presenting worldwide innovation to Health. Mérieux Développement brings its expertise and international network to enable entrepreneurs to disrupt and create new markets. Mérieux Développement is an affiliate of Institut Mérieux, which employs around 16,000 employees worldwide, with consolidated revenues exceeding 2.5 billion Euros in 2016.
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