Antares Pharma Announces Licensing Agreement With Teva For Novel Injector Device
Exclusive Supply and Development Agreement
Exton, PA - Antares Pharma, Inc. announced having signed an agreement with Teva Pharmaceutical Industries Ltd. for the development and supply of a new Antares disposable injection device. Under the terms of the exclusive agreement, Teva is obligated to purchase all of its delivery device requirements from Antares for use with an undisclosed product that is subject to approval by regulatory authorities. The finished product is expected to be marketed in the United States and Canada. Antares will receive an upfront cash payment, milestone fees, and a negotiated percentage of the gross profit as well as a transfer price for the device. Teva also received an option for rights in other territories.
Jack E. Stover, President and CEO of Antares Pharma, commented, "Our agreement builds upon the successful relationship which was established with Teva in November of 2005." Mr. Stover added, "This further confirms the compelling patient benefits offered by our proprietary injection systems, which have the potential to add value to a wide range of injectable pharmaceutical products."
Antares' portfolio of injection devices includes the Vibex mini-needle injectors, and two needle-free injection systems: the Medi-Jector Vision and Medi-Jector Valeo. The Vibex 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, and 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-Jector devices are distributed in more than 30 countries.
SOURCE: Antares Pharma