Antares Pharma Expands Executive Team and Appoints Pavan Handa as Senior Vice President of Business Development
EWING, N.J.--(BUSINESS WIRE)--Jan 20, 2010 - Antares Pharma, Inc. (NYSE Amex:AIS) announced that Mr. Pavan Handa has joined Antares Pharma as Senior Vice President of Business Development. Mr. Handa has over 20 years of business development and venture management experience in the global biopharmaceutical industry with both drug delivery and specialty pharma companies. Throughout his career, he has been associated with significant value creation through strategic alliances, licensing, acquisitions, new business creation, and divestitures.
Previously, Mr. Handa served as Vice President and Head of Business Development and Alliance Management for Noven Pharmaceuticals, Inc., a leading specialty pharma and drug delivery company. Over a seven year period at Noven, his business development efforts resulted in significant contributions including, the out-licensing of Daytrana (methylphenidate patch for ADHD treatment) to Shire Pharmaceuticals for $150 million, creation of a transdermal drug strategic alliance with P&G Pharmaceuticals (now acquired by Warner Chilcott), acquisition of a specialty pharma company for $135 million, and the sale of Noven to Japan-based Hisamitsu Pharmaceutical for $428 million. Prior to joining Noven, he served as Senior Vice President of Business Development and Portfolio Management at Pharmacologics LLC, a drug development venture capital affiliate of MDS Inc., and held senior business development positions at Enzon Pharmaceuticals and Union Carbide Corporation. He received his MBA in finance and marketing from the University of Cincinnati.
"We are very pleased to have Mr. Handa, a seasoned business development executive, join Antares; he brings a wealth of business development and strategic alliance experience to our executive management team to continue to build a business that is focused on growing and profitable opportunities, particularly in the injectables drug business," commented Dr. Paul Wotton, President and Chief Executive Officer of Antares.
"I am excited at the prospect of joining the Antares management team at this important juncture in the company's growth as it transitions from a provider of drug delivery systems to a developer and commercializer of innovative pharmaceutical products. We expect to accomplish this through strategic partnerships, acquisitions, and internal programs. I look forward to contributing to its continued growth and future success," said Mr. Handa.
About Antares Pharma
Antares Pharma focuses on self-injection delivery products and technologies and topical gel-based pharmaceutical products. The Company's subcutaneous injection technology platforms include VibexTM disposable pressure-assisted auto injectors, ValeoTM/Vision® reusable needle-free injectors, and disposable multi-use pen injectors. In the injector area, Antares Pharma has a multi-product deal with Teva Pharmaceuticals Industries, Ltd that includes Tev-Tropin® human growth hormone and a partnership with Ferring Pharmaceuticals. In the gel-based area, the Company's lead product candidate, Anturol®, an oxybutynin ATDTM gel for the treatment of OAB (overactive bladder), is currently under evaluation in a pivotal Phase 3 trial. Antares also has a partnership with BioSante that includes LibiGel® (transdermal testosterone gel) in Phase 3 clinical development for the treatment of female sexual dysfunction (FSD), and Elestrin (estradiol gel) for the treatment of moderate-to-severe vasomotor symptoms associated with menopause, and currently marketed in the U.S. Antares Pharma has corporate headquarters in Ewing, New Jersey, with subsidiaries performing research, development and product commercialization activities in Minneapolis, Minnesota and Muttenz, 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, 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 enrolment 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 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 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, 2008, 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.