Ropes & Gray represented Xeris Biopharma in a research collaboration and option agreement with Horizon Therapeutics.
Under the agreement announced on November 23, Xeris will use its proprietary formulation technology platform, XeriJect, to develop an ultra-concentrated ready-to-use, subcutaneous injection of Horizon’s teprotumumab, and Horizon will have an option to take a commercial license under the Xeris technology to exploit such re-formulated product.
Teprotumumab is the first and only medicine approved by the U.S. Food and Drug Administration for the treatment of Thyroid Eye Disease – a serious, progressive and potentially vision-threatening rare autoimmune disease. 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. Financial terms of the agreement were not disclosed.
The Ropes & Gray team was led by life sciences partner Abigail Gregor and included tax partner Scott Pinarchick and strategic transactions associates Joe Muller and Adwoa Hinson.
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