Antares Pharma, Inc. Announces Worldwide Development and License Agreement with Jazz Pharmaceuticals, Inc.; Milestone and Royalty Payments up to $16.5 Million
Published: Jul 19, 2007
EWING, N.J.--(BUSINESS WIRE)--Antares Pharma, Inc. (AMEX: AIS) announced that it has signed a worldwide product development and license agreement with Jazz Pharmaceuticals (NASDAQ: JAZZ). Signing this agreement demonstrates the successful completion of a feasibility agreement which was initiated between Antares and Jazz Pharmaceuticals in December 2005. The product candidate underlying this agreement is being developed to treat a significant CNS disorder and is based on Antares’ proprietary ATD™ (Advanced Transdermal Delivery) system. Approved products from the same class of compounds represented worldwide sales of over $2 billion in 2006, and are projected to achieve sales of at least $3.1 billion in 2010.