Antares Pharma, Inc. announced that it has entered into an agreement with Pfizer Inc. to develop a combination drug device rescue pen. This rescue pen will utilize the Antares QuickShot auto injector and an undisclosed Pfizer drug. Pfizer will pay for the development of the product and will be responsible for obtaining FDA approval of the combination product. The parties intend to enter into a separate supply agreement pursuant to which Antares will provide fully packaged commercial ready finished product to Pfizer at cost plus margin and Pfizer will then be responsible for commercializing the product in the United States, pending FDA approval. Antares will then receive royalties on net sales on the combination product.
“We are excited to begin our partnership with Pfizer, one of the world’s premier biopharmaceutical companies, on this important project to develop a rescue pen utilizing our QuickShot technology,” said Robert F. Apple, President and Chief Executive Officer of Antares. “This development agreement between Antares and Pfizer further expands our portfolio of pipeline partnered products. Additionally, it increases the potential number of products utilizing our innovative QuickShot auto injector technology platform. We look forward to working closely with Pfizer throughout the development phase of this combination product and assisting them with the FDA drug device approval process.”