Another transdermal drug delivery firm has come to Princeton. Antares Pharma CEO Jack E. Stover moved his six-person headquarters from suburban Philadelphia (Exton, Pennsylvania) to Princeton Crossroads Corporate Center during the second week in August.
A publicly held firm that trades on the American Stock Exchange, Antares Pharma develops drug delivery systems, such as transdermal systems, and injectable devices.
With R&D and manufacturing facilities in Minneapolis, Minnesota, and Basel, Switzerland, it has 29 patents and more than 100 applications pending in the U.S. and other countries.
With its partner firms, Antares is developing therapies for such conditions as diabetes, growth disorders, obesity, pain management, incontinence, female sexual dysfunction, and other hormonal problems.
In addition to its transdermal delivery system, it has an oral fast-melt technology, a disposable mini-needle injection device, and a reusable needle-free injection device. The needle-free injector systems are used in more than 30 countries, and Antares’ licensees use the transdermal system for an ibuprofen gel that is marketed in Europe.
The transdermal system employs a clear and cosmetically acceptable drug delivery gel. “Within a few minutes of application to the skin, an invisible depot is formed within the epidermis from which the drug is slowly absorbed into systemic circulation.
The gel contraceptive products developed under this agreement are expected to be generally safer than most oral contraceptives, convenient to use, and attractive to women who have problems taking oral contraceptives.
They will be under the complete control of the user and will be able to deliver multiple active ingredients simultaneously,” according to company literature.
Stover, who lives in Bucks County, came to Antares in 2004. A graduate of Lehigh University, Class of 1975, he had been the partner in charge of the lifesciences practice of Coopers & Lybrand and CFO and CIO for Braun Medical.
In Princeton he was executive vice president of Gynetics, the privately held women’s healthcare company that developed the “morning after” pill. His most recent job was as executive vice president and CFO of Sicor Inc., the largest publicly-held vertically integrated specialty, injectable pharmaceutical firm. Sicor was recently sold to Teva Pharmaceuticals for more than $3.4 billion.
The CEO is Roger G. Harrison and James E. Hattersley is vice president of corporate development. Mark Bennison of Trillium Realty negotiated the lease, says Stephanie Baldwin, who is in charge of investor relations.
Baldwin cites reasons for the move: to be in the pharmaceutical corridor, to be close to Manhattan (“We go to New York at least a couple of times a month”), and to be closer to Newark Airport.
Says Stover: “We are an international company, and when visitors came in through Newark, it was such a journey to Exton.”
Antares Pharma Inc. (AIS), 250 Phillips Boulevard, Princeton Crossroads Corporate Center, Suite 290, Ewing 0868; 609-359-3020; fax, 609-359-3015. Jack E. Stover, president & CEO. www.antarespharma.com