ATI alumni company Xeris Pharmaceuticals, Inc., a specialty biopharmaceutical company focused on the development and commercialization of novel formulations of injectable drugs, today announced the closing of a $41 million Series C financing. The Series C round was led by the Redmile Group and included other new investors Deerfield Management and Sabby Management, as well as The McNair Group and other existing investors. The proceeds will be used primarily to advance Xeris’ lead product, which utilizes the company’s room-temperature-stable glucagon solution based on its XeriSol™ platform, a proprietary, non-aqueous formulation technology. In conjunction with the financing, Xeris has appointed Robert C. Faulkner, Managing Director, Redmile Group to its Board of Directors.
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