Antares Pharma has recently announced that it has licensed to Pfizer Inc.’s Consumer Healthcare Business Unit one of its drug delivery technologies to develop an undisclosed product on an exclusive basis for North America. The companies did not disclose specifics of the deal.
Pfizer said that it will assume full cost and responsibility for all clinical development, manufacturing, and commercialization of the product in the licensed territory, which also includes certain non-exclusive territories outside of North America. Antares will get upfront payments and milestone payments based on development and sales. If a product is approved, Antares will get royalties on sales over the first three years after approval.
According to Paul Wotton CEO of Antares this collaboration with Pfizer Consumer Healthcare makes way for an important product opportunity that targets a growing therapeutic area and utilizes one of our technology platforms. The company will however continue to significantly diversify existing and future product portfolio through both internal product development programs and Pharma partnerships.
Antares’s recently FDA approved oxybutynin gel 3% product for the treatment of OAB will be launched in 2012. This new collaboration of key partnerships includes products and product opportunities with world’s leading companies such as Teva, Ferring and Watson having potential for significant business growth in the future.
About Antares Pharma
Antares Pharma focuses on self-injection pharmaceutical products and topical gel-based medicines. The Company's subcutaneous and intramuscular injection technology platforms include Vibex™ disposable pressure-assisted auto injectors, disposable multi-use pen injectors and Vision™ reusable needle-free injectors distributed as Tjet® and Zomajet® by Teva Pharmaceutical Industries, Ltd (Teva) and Ferring Pharmaceuticals (Ferring), respectively.
In the injector area, Antares Pharma has a multi-product deal with Teva that includes Tev-Tropin® human growth hormone (hGH) and a partnership with Ferring that includes Zomacton® hGH.
In the gel-based area, the Company's FDA approved product is Anturol® gel, an oxybutynin ATD™ gel for the treatment of OAB (overactive bladder) which has been licensed to Watson Pharmaceuticals, Inc. for the U.S. and Canada.
Antares' partnership with BioSante includes Elestrin® (estradiol gel) indicated for the treatment of moderate-to-severe vasomotor symptoms associated with menopause, and currently marketed in the U.S.
Antares Pharma has two facilities in the U.S. The Parenteral Products Division located in Minneapolis, Minnesota directs the manufacturing and marketing of the Company’s reusable needle-free injection devices and related disposables, and develops its disposable pressure-assisted auto injector and pen injector systems. The Company’s corporate offices and Pharma Division are located in Ewing, New Jersey, where pharmaceutical products are developed utilizing both the Company’s transdermal systems and drug/device combination products.