An Austin-based company that’s developing the blood sugar-regulating hormone glucagon, as opposed to insulin, is in the midst of a decent-sized Series B deal.
Xeris Pharmaceuticals has raised $7.2 million in Series B funding, according to a regulatory filing, with an aim to raise $14.8 million total in the round. Calls to the company to determine what this funding will be used for have yet to be returned – but it’s in the midst of a couple of Phase 2 trials. Xeris has a few programs in the works that center on diabetes, epilepsy and hyperinsulinism.
Xeris’ diabetes program is developing a soluble, stable form of the pancreatic hormone glucagon to enhance insulin regulation. It has both a glucagon injection and infusion in Phase 2 clinical development. The company says:
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While tremendous advances have been made in the development of insulin and insulin analogs to manage hyperglycemia (high blood sugar), very little progress has been made in the development of glucagon products to manage hypoglycemia.
It’s also researching the application of its glucagon product in treating hyperinsulinism, a condition separate from diabetes but also causative of hyper- or hypoglycemia
And lastly, Xeris is creating a low volume formulation of diazepam, a drug already being used to treat seizures. The idea here is to develop a preloaded syringe to be injected in the middle of an epileptic fit.
