« Previous | Next » | All Messages |  AIS Message Board Home | recommend post |  Ignore Poster

AIS News Antares Receives Milestone Payment from Bradley Pharmaceuticals

EWING, N.J.--(BUSINESS WIRE)--Antares Pharma, Inc. (Amex:AIS) today announced that the Company has received an $875,000 milestone payment from Bradley Pharmaceuticals Inc. (NYSE:BDY) pursuant to a marketing agreement Bradley signed with Biosante Pharmaceuticals (Amex:BPA) for Bio-E-Gel® (transdermal estradiol gel). Additional regulatory and sales based milestone payments could bring the total of such payments to Antares to more than $13 million. Pending approval by the U.S. Food and Drug Administration(FDA), Antares will receive an important portion of the royalties on third party sales of Bio-E-Gel® as well.

"We are very pleased BioSante has entered into an agreement with a high quality marketing partner such as Bradley Pharmaceuticals for our estradiol ATD™ gel expected to be prescribed for the treatment of hot flashes in menopausal women”, said Jack Stover, President and CEO of Antares Pharma. "This is a major milestone for Antares as it represents the first marketing partner in our proprietary ATD(TM)gel delivery platform. The initial milestone payment is an important cash infusion for Antares and potential future milestones and royalties paint a very attractive financial picture supporting further development of our products."

About Bradley Pharmaceuticals, Inc.

Bradley Pharmaceuticals common stock is listed on the NYSE under the symbol BDY.

Bradley Pharmaceuticals, Inc. was founded in 1985 as a specialty pharmaceutical company and markets to niche physician specialties in the U.S. and 38 international markets. Bradley's success is based upon strategically expanding from an Acquire, Enhance and Grow to an In-License, Develop and Bring to Market business model: In-license phase II and phase III drugs with long-term intellectual property protection; Develop these products and submit completed clinical studies to the FDA for NDA approvals and commercialization; Bring to Market these patent-protected brands to fill unmet needs and leverage Bradley's marketing and sales expertise to increase shareholder value. Bradley Pharmaceuticals is comprised of Doak Dermatologics, specializing in therapies for dermatology and podiatry; Kenwood Therapeutics, providing gastroenterology, OB/GYN, respiratory and other internal medicine brands; and A. Aarons, which markets authorized generic versions of Doak and Kenwood therapies.

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)/Vision® 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 potential receipt of additional regulatory and sales based milestones and royalty payments and that the total of such payments may be more than $13 million. 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.