EXTON, Pa., Dec. 6 /PRNewswire-FirstCall/ -- Antares Pharma, Inc. today announced having signed a development agreement with a presently unnamed pharmaceutical company specializing in products for the treatment of central nervous system (CNS) disorders. Under the agreement, Antares will apply its advanced transdermal delivery (ATD(TM)) gel platform to create a new, branded pharmaceutical product. Antares will recognize research and development revenue from this work, which is currently underway. Commercial terms have been agreed upon and will be included in a subsequent license agreement upon successful completion of the initial phase of this program.
James Hattersley, Vice President of Corporate Business Development at Antares Pharma, said, “We look forward to designing an effective, patient- compliant prescription product with our partner based on Antares’ proven ATD(TM) gel technology.”
Jack E. Stover, President and CEO of Antares Pharma, said, “This agreement represents another key application of our ATD(TM) platform further validating both the system and our overall product based strategy. Our ATD(TM) system offers compelling benefits to the patient in comparison to other drug delivery dosage forms, which we believe can differentiate and add significant value to a wide range of transdermally administered pharmaceutical products.”
Antares’ patent-protected ATD(TM) gel technology platform has been clinically and commercially validated for the systemic delivery of a variety of compounds. In addition, the development of modified gel systems for non- systemic, dermal delivery has also been achieved. Load leveling of drug in the ATD(TM) platform may be the same or higher than in conventional transdermal systems, can be sustained for 24 hours after once daily application, and can be accurately delivered via a metered dose pump or a unit dose sachet packaging. The cosmetic quality is superior as ATD(TM) gels are both transparent and non-staining. Generally, there is very low irritation potential for our ATD(TM) gels as product formulations fully disappear within 2-3 minutes. More than one active compound may also be delivered simultaneously, each at a different concentration, such that the permeation profile of each agent is optimally maintained.
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. 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.
For more information, please contact: Steve Chizzik / Ira Weingarten, Equity Communications: 973.912.0980 Jack E. Stover, President and CEO: 610.458.6200 Lawrence M. Christian, CFO and Vice President, Finance: 610.458.6200
Additional information is available online at http://www.antarespharma.com and http://www.mediject.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 of Equity Communications,+1-973-912-0980; or Jack E. Stover, President and CEO, +1-610-458-6200, orLawrence M. Christian, CFO and Vice President, Finance, +1-610-458-6200,both of Antares Pharma
Web site: http://www.antarespharma.com/
