Antares Pharma Enters Licensing Agreement with Pfizer Consumer Healthcare

Antares Pharma, Inc.

today announced that it has licensed to Pfizer

Consumer Healthcare Business Unit one of its drug delivery technologies to develop an undisclosed product on an exclusive basis for North America. Pfizer 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 receive undisclosed upfront payments, development milestones and sales based milestones, as well as royalties on net sales for three years post launch in the US. “We are very pleased to enter this collaboration with Pfizer Consumer Healthcare for an important product opportunity targeting a growing therapeutic area which utilizes one of our technology platforms,” said Paul K. Wotton, Ph.D., Antares' President and CEO. “We continue to significantly diversify our existing and future product portfolio through both internal product development programs and Pharma partnerships. Our internal programs have yielded VIBEX MTX in development for the treatment of rheumatoid arthritis and our recently FDA approved oxybutynin gel 3% product for the treatment of OAB which will be launched in 2012. In addition to this new collaboration our key partnerships include products and product opportunities with world leading companies such as Teva, Ferring and Watson. This combination of marketed products, internal development and Pharma partnerships should provide for potential significant business growth in the future.”