Venture Capital News: Xeris Pharmaceuticals Closes $30M Financing
AUSTIN, TX, Merieux Developpement has recently concluded an equity investment into Xeris Pharmaceuticals.
Merieux Developpement 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(TM) 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 Merieux Developpement 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."
François Valencony, General Manager of Merieux Developpement, 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(TM) and XeriJect(TM) 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 Merieux Developpement - http://www.merieux-developpement.com
Merieux Developpement is the investment fund of Institut Merieux specialized in venture capital and growth equity transactions in the healthcare and nutrition sectors. Merieux Developpement supports entrepreneurs and companies with products or services presenting worldwide innovation to Health. Merieux Developpement brings its expertise and international network to enable entrepreneurs to disrupt and create new markets. Merieux Developpement is an affiliate of Institut Merieux, which employs around 16,000 employees worldwide, with consolidated revenues exceeding 2.5 billion Euros in 2016.
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