Antares Pharma Inc announced a license agreement with SciTech Medical Products Ltd for the development and marketing of two hormone replacement therapy products in specific Asian Pacific markets. These products will address a variety of hormone deficiencies affecting both men and women. The growing market in this Asia Pacific region is currently believed to exceed $100 million (U.S. dollars).

"This is a significant opportunity for the expansion of our hormonal products in the Asian market, as well as further validation of Antares Pharma's unique transdermal gel technology," said Dr. Roger G. Harrison, president and chief executive officer of Antares Pharma. "We are delighted to collaborate with SciTech Medical Products in this venture."

The new products licensed by SciTech are gel formulations of testosterone (the natural male hormone) and estradiol (the natural female hormone). The gels are designed to be quickly absorbed through the skin after application on the arms, abdomen or thighs, delivering the required hormone to the bloodstream evenly and in a non-invasive, painless manner. Typically applied once per day, the gels are absorbed into the skin without leaving a residue on the skin. SciTech expects to begin human clinical trials by early 2002 in order to most effectively expedite regulatory approval to market.

Under the terms of the license agreement, SciTech acquired from Antares Pharma exclusive marketing rights, including the right to grant sublicenses, for both testosterone and estradiol hormone gel products. The agreement applies to all therapeutic applications for the licensed products within Japan, Korea, Taiwan, Philippines, Singapore, Thailand, Vietnam, India, Pakistan, Sri Lanka, Myanmar, Australia and Malaysia. The Australia and Malaysia area licenses were previously held by BioSante Pharmaceuticals Inc, until Antares Pharma recently reacquired those product licensing rights under terms that were not disclosed. BioSante retains the rights for these products in the United States, Canada, Mexico, Israel, New Zealand, China, Indonesia and South Africa.