Antares Pharma, Inc. (NYSE Amex: AIS), a leader in self injection drug delivery technology, today announced the receipt of a sales-based milestone from Teva. Antares’ novel delivery device, branded as Tjet® is used to deliver TEV-TROPIN® brand human growth hormone (hGH) to children who have growth failure due to inadequate secretion of normal endogenous growth hormone. The $0.5 million milestone was related to achieving an undisclosed sales volume of TEV-TROPIN®.
Paul K. Wotton, Ph.D., President and Chief Executive Officer, stated, "We are pleased to receive this milestone payment from Teva and believe that our Tjet® injector system allows for a more user-friendly method of administration of Teva's Tev-Tropin® product, providing patients with a convenient means of injecting hGH on a daily basis. More significantly we believe all of Antares’ proprietary injectable platforms, which also include auto-injector and pen technologies, can improve patients’ lives and create meaningful value for its pharmaceutical partners”.
Through partnerships with Teva and others, Antares' novel injection device is used for administering hGH across Europe, Asia, and the USA.
Tjet® and TEV-TROPIN® are registered trademarks of Teva Pharmaceuticals USA.
About Growth Hormone Deficiency
GHD is a disorder where the body produces an insufficient amount of growth hormone or none at all. Without enough growth hormone, a child may not be able to grow at an expected rate or reach his or her anticipated adult height.
About Antares Pharma
Antares Pharma focuses on self-injection delivery technologies and topical gel-based pharmaceutical products. The Company's subcutaneous and intramuscular injection technology platforms include VIBEXTM disposable pressure-assisted auto injectors, ValeoTM/VisionTM reusable needle-free injectors, and disposable multi-use pen injectors. In the injector area, Antares Pharma has a multi-product deal with Teva Pharmaceutical Industries, Ltd that includes Tev-Tropin® human growth hormone and a partnership with Ferring Pharmaceuticals. In the gel-based area, the Company's lead product candidate, Anturol® an oxybutynin ATDTM gel for the treatment of OAB (overactive bladder), is currently under evaluation in a pivotal Phase 3 trial. Antares also has a partnership with BioSante that includes LibiGel® (transdermal testosterone gel) in Phase 3 clinical development for the treatment of female sexual dysfunction (FSD), and 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 corporate headquarters in Ewing, New Jersey, with subsidiaries performing research, development and product commercialization activities in Minneapolis, Minnesota and Muttenz, Switzerland.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements related to the Company’s future financial performance, and other statements which are other than statements of historical facts. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," anticipates," "believes," "estimates," "predicts," "projects," "potential," "continue," and other similar terminology or the negative of these terms, but their absence does not mean that a particular statement is not forward-looking. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, among others difficulties or delays in the initiation, progress, or completion of its clinical trials, including the phase 3 trial of Anturol®, whether caused by competition, adverse events, investigative site initiation rates, patient enrollment rates, regulatory issues, or other factors; that clinical trials may not demonstrate that Anturol® is both safe and effective for the treatment of patients with overactive bladder syndrome; that the safety and/or efficacy results of the phase 3 trial of Anturol® may not support an application for marketing approval in the United States or any other country; that an application for marketing approval may not be accepted for review or at all by the FDA or any other regulatory authority; and that the Company may lack the financial resources and access to capital to fund clinical trials. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and in the Company's other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this press release, except as required by law.