Xeris Pharmaceuticals Announces Distribution Agreement With Megapharm Ltd. to Commercialize Gvoke in Israel and the Palestinian Authority

Xeris Pharmaceuticals, Inc. (Nasdaq: XERS), a specialty pharmaceutical company leveraging its novel formulation technology platforms to develop and commercialize ready-to-use injectable and infusible drug formulations, today announced that it has entered into an exclusive distribution agreement with Megapharm Ltd. (“Megapharm”), a leading Israel-based pharmaceutical company, for the commercialization in Israel and the Palestinian Authority of Xeris’ Gvoke (glucagon injection) for the treatment of severe hypoglycemia in adults and children with diabetes ages 2 years and above. Gvoke is the world’s first and only ready-to-use liquid glucagon.

Under the terms of the agreement, Megapharm will be responsible for registration and marketing of Gvoke in Israel and the Palestinian Authority, as well as named patient services supply, and Xeris will be responsible for manufacturing, product supply, quality assurance and control, regulatory support, and maintenance of IP. Gvoke is expected to be available in Israel in 2022. Gvoke will also be available in Israel prior to registration on a named patient basis starting in early 2021.

“This agreement represents a major milestone in our business development strategy to expand our international distribution for Gvoke so that more insulin taking patients with diabetes can have access to it,” said Paul R. Edick, Chief Executive Officer and Chairman of Xeris. “Megapharm is a well-respected marketing company with a track record of successfully commercializing innovative products in Israel, and we look forward to working with them.”

Miron Drucker, CEO of Megapharm, said, “We are proud to establish this partnership with Xeris to bring Gvoke to the diabetes communities in Israel and the Palestinian Authority.”

About GVOKE

Xeris received U.S. regulatory approval in 2019 for GVOKE (glucagon) injection, its ready-to-use, room-temperature stable liquid glucagon for the treatment of severe hypoglycemia in pediatric and adult patients with diabetes ages 2 years and above. The Company continues to evaluate additional applications to address needs in severe hypoglycemia and related conditions. Important Safety Information and a link to full prescribing information may be found at https://www.gvokeglucagon.com.