Antares Pharma (AMEX:AIS) has inked a licensing agreement with Pfizer (NYSE:PFE) to provide one of its drug-delivery technologies to Pfizer’s consumer healthcare business arm for an unnamed product for North America.
Pfizer, in New York, will be responsible for clinical development, manufacturing and commercialization of the product. Ewing, New Jersey-based Antares will receive up-front payments, development milestones and sales-based milestones. It will also receive royalties on net sales for three years after the U.S. launch.
The value of the deal was not disclosed.
The agreement positions the company well in what has been a fortnight of highs and lows for the company. Earlier this month, its gel for overactive bladder, called Anturol, was approved by the U.S. Food and Drug Administration. Last week, on the other hand, a gel it developed and licensed to BioSante Pharmaceuticals (NASDAQ:BPAX) to treat female sexual dysfunction in post-menopausal women failed two phase 3 clinical trials that tested efficacy when the gel did not perform significantly better than a placebo.
