January 9, 2017
By Alex Keown, BioSpace.com Breaking News Staff
AUSTIN, Texas – Xeris Pharmaceuticals has a new leader at the helm. Paul Edick, the former chief executive officer of Durata Therapeutics , has been tapped to lead the specialty biopharmaceutical company focused on the development and commercialization of novel formulations of injectable drugs, including diabetes.
Edick’s role was effective as of this morning. He succeeds Douglas Baum, who is stepping down from his role as president and chief executive officer and will serve as a consultant to the company. In a statement, Baum said Edick is the leader who can drive Austin-based Xeris’ lead product, the G-Pen, to commercialization.
As a significant shareholder and a believer in the technology, I am gratified to hand this promising company to an executive with such a track record of success,” Baum said in a statement.
Xeris’ lead drug product candidate is G-Pen, a novel glucagon formulation based on the company’s proprietary formulation technology Xerisol, which is delivered through a pre-filled injector to treat hypoglycemia in diabetics. G-Pen is expected to be stable for long periods at room temperature and easy for patients and caregivers to use. The G-Pen is intended to be a pre-mixed, ready-to-use product that does not require reconstitution at the time of use or refrigeration at any time, according to company information.
Xeris’ proprietary formulation platforms have the potential to offer distinct advantages over existing products and formulations including: up to 1,000-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, the company said.
When Edick helmed Durata, he took the company public and ultimately oversaw its 2014 acquisition by Actavis PLC , which is now Allergan PLC .
Edick has significant leadership experience. Prior to his four-year tenure with Durata, Edick served as chairman and chief executive officer of GANIC Pharmaceuticals Inc. from March 2008 to June 2010. From April 2002 to February 2008, Edick was president and then CEO of Medpointe Healthcare Inc.
Edick serves on the Boards of Directors for Iterum Therapeutics Limited, NewLink Genetics Corporation , PDL BioPharma, Inc. , Neos Therapeutics and Sucampo Pharmaceuticals, Inc.
“Paul is a leader whose record shows a relentless focus on leadership, execution and high performance, and we are fortunate to have an executive of his caliber to take Xeris forward. Paul’s decades of experience leading companies in the pharmaceutical industry, his vision, and his leadership make him uniquely qualified to lead Xeris at this moment of great opportunity for the company” said Robert C. Faulkner, a member of Xeris’ board of directors.