Healthcare Industry News: Transdermal
News Release - October 4, 2006
Antares Pharma to Supply Teva with Innovative Needle-Free Injection SystemEWING, N.J.--(HSMN NewsFeed)--Antares Pharma, Inc. (Amex:AIS ) today announced an agreement with Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA ) to provide its needle-free injection system exclusively for use with a currently unnamed product in the U.S. Under the terms of the agreement, Teva will purchase all of its requirements for the injection system from Antares. Antares will receive an upfront cash payment, milestone fees and a negotiated percentage of net sales as well as an undisclosed purchase price for each injection system sold. Upon regulatory approval, the injection system will be marketed by Teva for exclusive administration with the unnamed product, as soon as the fourth quarter of 2006 or early 2007.
"We are very pleased to announce our third agreement with Teva in less than a year," said Jack Stover, President and CEO of Antares Pharma. "This new commercial activity is especially attractive due to the product potential and the near term revenue impact."
Antares' portfolio of injection devices includes the Vibex(TM) mini-needle injectors, and two needle-free injection systems: the Medi-Jector VisionŽ and Medi-Jector Valeo(TM). The Vibex(TM) mini-needle injectors utilize a very short 2.5 mm needle to reduce the pain sensation and avoid the unintended intra-muscular injections that can occur with conventional needle-based injection systems, such as auto-injectors and pen-injectors. Vibex(TM) mini-needle injectors are protected by several issued and pending United States patents. The Company's needle-free injectors are currently marketed for insulin delivery in the treatment of diabetes, and for growth hormone delivery in the treatment of short stature in children in many major markets around the world. Antares Pharma has been a leader in the field of injection delivery systems for over 25 years, and its Medi-JectorŽ devices are distributed in more than 30 countries.
About Antares Pharma
Antares Pharma is a specialized pharma product development company focused on developing patented drug delivery systems and injectable device engineering capabilities. Antares' current technology platforms include its ATD(TM) Advanced Transdermal Delivery system, and its related TecTix(TM) system for topical and transmucosal delivery, its Easy Tec(TM) oral fast-melt technology, and subcutaneous injection technology platforms including both Vibex(TM) disposable mini-needle injection device and Valeo(TM)/VisionŽ 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, if approved, will address unmet medical needs by reducing side effect profiles, improving safety, increasing effectiveness, and improving patient compliance and convenience.
Antares Pharma has corporate headquarters in Princeton Crossroads Corporate Center in Ewing, NJ with subsidiaries performing research, development, manufacturing and product commercialization activities in Minneapolis, Minnesota and Basel, Switzerland.
Safe Harbor Statement
In addition to historical facts or statements or current conditions, this press release contains forward-looking statements within the meaning of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995, including statements regarding the timing of product sales, market estimates and market potential. Forward-looking statements provide Antares' current expectation or forecasts of future events. Antares' results could differ materially from those reflected in these forward-looking statements due to decisions of regulatory authorities, Antares' ability to execute on its development plans, patient and market acceptance of any potential product discussed and general financial, economic, regulatory and political conditions affecting the pharmaceutical industry generally. For a discussion of these and other risks and uncertainties that may effect the forward-looking statements, please see the risk factors in Antares' quarterly reports filed with the Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Antares undertakes no obligation to update publicly any forward-looking statement.
Source: Antares Pharma
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