Antares Pharma Enters Licensing Agreement with Daewoong Pharmaceuticals for Oxybutynin Gel 3% in South Korea

Antares Pharma, Inc. AIS today announced that it has licensed exclusively its Oxybutynin Gel 3% to Daewoong Pharmaceuticals Co. Ltd.,for marketing in South Korea. Antares will receive undisclosed upfront payments, regulatory milestones and sales based milestones, as well as royalties on net sales for the product. Antares' FDA approved oxybutynin product is a clear, odorless topical gel available in a convenient, metered-dose pump that has demonstrated to be an effective and safe treatment for overactive bladder (OAB). Because the active ingredient is delivered transdermally, it is not metabolized by the liver in the same way as orally administered oxybutynin. This results in a low level of side effects, such as dry mouth and constipation.