By Ben Glickman

Xeris Biopharma has entered an exclusive worldwide license agreement with Amgen related to a subcutaneous formulation of a Thyroid Eye Disease treatment.

The Chicago-based biopharmaceutical company said Amgen would develop, manufacture and commercialize the formulation of teprotumumab using Xeris' XeriJect technology.

Xeris may receive up to $75 million based on development and regulatory milestones in addition to sales milestones. The company will also get royalties on future sales of Tepezza, which is the brand name of teprotumumab in the U.S., using XeriJect technology.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 10, 2024 08:38 ET (13:38 GMT)

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