EXTON, Pa., Oct. 26 /PRNewswire-FirstCall/ -- Antares Pharma, Inc. , today unveiled its novel device platform for delivering antidotes to various biological threats, and said that talks with military and other government officials to assess the use of its patented pre-packed mini-needle injectors were progressing as planned.
Dr. Peter Sadowski director of the device group operations for Antares, said that military officials had approached Antares, and found its platforms "appear suitable for the delivery of many known antidotes to nerve gas and other biological threats, including atropine, pralidoxime chloride, morphine, and diazepam." Additionally, Dr. Sadowski said that preliminary tests had established the products as "durable and reliable enough to withstand the rigors required of a critical delivery system that needs to be highly dependable even in severely adverse conditions." He said that the officials were particularly impressed with the portability of the Company's mini-needle devices, and with the low cost to manufacture.
It has been widely reported that the market for bioterrorism products, and especially antidotes, has been growing rapidly. The BioShield law passed last year authorized $5.6 billion over 10 years for the government to procure drugs, biological products, and devices as countermeasures against biological, chemical, radiological and nuclear agents that could cause a public health threat. The Project BioShield II Act of 2005 further promises government funding and incentives for final products that meet government specifications. Additionally, in 2005 the U.S. Department of Health & Human Services announced $1.33 billion in funding to states to prepare for terrorism, including $862.8 million in funds allocated by the Center for Disease Control to boost preparedness for bioterrorism, infectious disease outbreaks and public health emergencies.
According to Jack Stover, Antares' President and Chief Executive Officer, "To meet the challenge of bioterrorism, private industry is going to have to develop antidotes that can be manufactured in large quantities at a low cost, stored at room temperature for extended periods of time, and delivered, if necessary, by civilians who may lack formal medical training. As a world leader in drug delivery technology, Antares has responded to that challenge with a platform, and a series of potential products that we think address this very large and rapidly expanding market in a uniquely effective way."
About Antares Pharma
Antares Pharma is a specialized pharma product development company with patented drug delivery systems and injectable device engineering capabilities. Antares' current technology platforms include its ATD(TM) Advanced Transdermal Delivery system, Easy Tec(TM) oral fast-melt technology, and subcutaneous injection technology platforms including both Vibex(TM) disposable mini-needle injection device and Valeo(TM) / Vision(R) reusable needle-free injection devices (Our new Medi-Jector Vision website can be viewed online at http://www.mediject.com). Antares Pharma is committed to leveraging its multiple drug delivery platforms to add value to existing drugs and to create new pharmaceutical products and injectable devices. Overall, Antares' product pipeline will address unmet medical needs by reducing side effect profiles, improving safety, increasing effectiveness, and improving patient compliance and convenience.
Antares has active partnering programs with several pharmaceutical and distribution companies for a number of indications and applications, including diabetes, growth disorders, obesity, female sexual dysfunction and other hormone therapy. Its needle-free injector system is distributed in more than 30 countries for the administration of insulin and is marketed for use with human growth hormone through licensees in most major regions of the world. Licensees also market an ibuprofen gel in several major European countries. In addition, Antares Pharma is undertaking development or is conducting research on several product opportunities that it expects will form the basis of its specialized pharma program.
Antares Pharma has corporate headquarters in Exton, Pennsylvania, with subsidiaries performing research, development, manufacturing and product commercialization activities in Minneapolis, Minnesota and 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.
Additional information is available online at http://www.antarespharma.com. Information included on the Company's websites is not incorporated herein by reference or otherwise.
Antares Pharma, Inc.CONTACT: Steve Chizzik or Ira Weingarten, both of Equity Communications,+1-973-912-0980; Jack E. Stover, President and CEO or Lawrence M.Christian, CFO and Vice President, Finance, +1-610-458-6200, both ofAntares Pharma
