EXTON, Pa., Jan. 8 /PRNewswire-FirstCall/ -- Antares Pharma, Inc. (BULLETIN BOARD: ANTR) today announced that it had signed a development and licensing option agreement with ProSkelia, SAS, a company with headquarters near Paris, France, for the development and future licensing of products utilizing Antares Pharma's proprietary ATD(TM) gel technology. The products will contain an undisclosed ProSkelia proprietary compound that is currently under clinical development and will use the ATD gel technology to provide delivery of the compound. Financial terms of the agreement were not announced.
Dario Carrara, Ph.D., Managing Director for Antares Pharma European operations, said, "Antares Pharma's ATD gel technology has already been clinically proven in the field of transdermal delivery of several hormonal drug products. This agreement, with a company of the potential of ProSkelia, is indicative of our intent to establish a broad base of ATD applications in several therapeutic areas."
Commenting on the agreement, Prof. Roland Baron, Founder and Chief Scientific Officer of ProSkelia, said, "ProSkelia desires to maximize its product portfolio through development agreements with companies whose technology, when combined with our skills, will increase the potential for our products. We are pleased to have established this type of relationship with Antares Pharma."
ProSkelia is an independent European biopharmaceutical company spun-off from Aventis in July 2002 that focuses on bone disease and hormone disorders. The company's scientific expertise in the biology of bone ("osteobiology"), coupled with integrated cutting-edge research tools, provides it with a unique ability to undertake research and development in these two inter-related fields. ProSkelia's pharmaceutical heritage is evident in both the quality and capability of its team and in its R&D pipeline. With three compounds in clinical development for four indications and ten pre-clinical programs, ProSkelia is well positioned for future R&D collaboration and out-licensing opportunities, as well as M&A activity to grow its business. ProSkelia had the biotechnology sector's largest private equity investment in Europe in 2002. Based in a suburb of Paris, France, ProSkelia employs about 100 people.
About Antares Pharma
Antares Pharma develops pharmaceutical delivery systems, including needle- free and mini-needle injector systems and transdermal gel technologies. These delivery systems are designed to improve both the efficiency of drug therapies and the patient's quality of life. The Company currently distributes its needle-free injector systems in more than 20 countries. In addition, Antares Pharma conducts research and development with transdermal gel products and currently has several products in clinical evaluation with partners in the US and Europe. The Company is also conducting ongoing research to create new products that combine various elements of the Company's technology portfolio. Antares Pharma has corporate headquarters in Exton, Pennsylvania, with manufacturing and research facilities in Minneapolis, Minnesota, and research facilities in Basel, Switzerland.
Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially and which are identified from time to time in the Company's reports filed with the U.S. Securities and Exchange Commission. Antares Pharma claims the protection of the Safe Harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
For more information, visit Antares Pharma's web site at http://www.antarespharma.com/. Information included on the Company's website is not incorporated herein by reference or otherwise.
Antares Pharma, Inc.
CONTACT: Dr. Roger G. Harrison, CEO / President, +1-610-458-6200, orLawrence M. Christian, CFO / Vice President - Finance, +1-610-458-6200, bothof Antares Pharma