Antares Pharma Receives Milestone Payment from Teva for Pen Injector Device Filing

EWING, N.J., Jan 22, 2009 (BUSINESS WIRE) --
TEVA | Quote | Chart | News | PowerRating -- Antares Pharma, Inc. (AMEX: AIS | Quote | Chart | News | PowerRating) announced that the Company
received a milestone payment from Teva Pharmaceutical Industries Ltd.
(NASDAQ: TEVA | Quote | Chart | News | PowerRating) related to the filing of a Device Master File for a novel
disposable pen injector. The pen injector is being developed under a
license agreement signed in January 2008 between the companies where
Antares will supply a custom proprietary pen for two self-administered
drugs that ultimately will be marketed by Teva. The filing was a
requisite part of the overall product development plan and Antares
delivered this on schedule. This is the second Device Master File that
Antares has submitted as part of its Teva collaborations and increases
the number of product specific devices that have been the subject of
Device Master File submissions with the U.S. Food and Drug
Administration to three. Details of the financial terms were not
disclosed.

"The true value of triggering this milestone payment is both the
achievement of a regulatory filing in a short period of time and the
important product design objectives that we have been able to reach
since signing the agreement with Teva," said Paul K. Wotton, President
and Chief Executive Officer of Antares Pharma. "This progress could not
have been possible without the hard work and depth of experience of the
product team along with a close working relationship with Teva. Antares
is becoming a demonstrated leader in the growing market segment of self
injectable products with three distinct injection devices under advanced
development or in already marketed products."

The disposable pen injector represents Antares third injection platform
and leverages the Company's experience with re-usable precise dose
needle-free injectors and disposable pressure assisted auto-injectors
designed to optimize patient compliance and convenience. The pen
injector has broad applications in the growing market for patient self
administration of injectable drugs and was developed specifically with
the intent of producing a highly competitive drug-device product for the
market with Teva, a world leader in the development of injectable
products.

About Antares Pharma (www.antarespharma.com)

Antares Pharma is a product development company committed to improving
pharmaceuticals through its patented drug delivery systems. Antares has
multiple development partnerships with leading pharmaceutical companies.
The Company's products are designed to improve safety and efficacy
profiles by minimizing dosing and reducing side effects while enabling
improved patient compliance. The Company's lead product candidate,
Anturol(TM), an oxybutynin ATD(TM) gel for the treatment of OAB (overactive
bladder), is currently under evaluation in a pivotal Phase 3 trial.
Antares has three validated drug delivery systems: the ATD(TM)
Advanced Transdermal Gel Delivery system; subcutaneous injection
technology platforms, including Vibex(TM) disposable
pressure-assisted auto injectors, Valeo(TM)/Vision(R) reusable
needle-free injectors, and disposable multi-use pen injectors; and Easy
Tec(TM) oral disintegrating tablets (ODT). Two of the systems
have generated FDA-approved products. Antares Pharma has corporate
headquarters in Ewing, New Jersey, with subsidiaries performing
research, development, manufacturing and product commercialization
activities in Minneapolis, Minnesota and Basel, 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: that the Company may experience
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 priority 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 future 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, 2007, 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.

SOURCE: Antares Pharma, Inc.

Antares Pharma
Robert Apple, 609-359-3020
Chief Financial Officer
rapple@antarespharma.com
OR
In-Site Communications, Inc.
Lisa Wilson, 917-543-9932
President
lwilson@insitecony.com

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