Antares Announces Agreement to Raise Approximately $11 Million in a Private Placement.

EXTON, Pa. -- Antares Pharma, Inc. (Amex:AIS) announced today that it has signed a definitive agreement to raise $10,962,500 through a private placement of 8,770,000 shares of common stock to a group of accredited investors at $1.25 per share. Additionally, investors will receive warrants to purchase 6,577,500 shares of common stock at an exercise price of $1.50 per share. The completion of the private placement is subject to approval by the American Stock Exchange and other customary closing conditions.

Antares plans to use the net proceeds from the private placement for general corporate purposes, which may include increasing its working capital, acquisitions, in-licensing of products or technologies and capital expenditures.

The common stock, warrants to purchase common stock and the common stock underlying the warrants have not been registered under the Securities Act of 1933, as amended, or the securities laws of any jurisdiction, and may not be offered or sold in the United States absent registration or exemption from registration requirements. Antares expects to file a registration statement with the Securities and Exchange Commission to register the resale of the shares of common stock to be issued and the resale of the shares of common stock to be issued upon exercise of the warrants to be issued.

This press release does not, and shall not, constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Antares Pharma

Antares Pharma is a specialized pharma product development company with patented drug delivery systems and injectable device engineering capabilities. Antares' current technology platforms include its ATD(TM) Advanced Transdermal Delivery system, Easy Tec(TM) oral fast-melt technology, and subcutaneous injection technology platforms including both Vibex(TM) disposable mini-needle injection device and Valeo(TM)/Vision(R) reusable needle-free injection devices. Antares Pharma is committed to leveraging its multiple drug delivery platforms to add value to existing drugs and to create new pharmaceutical products and injectable devices. Overall, Antares' product pipeline, if approved, will address unmet medical needs by reducing side effect profiles, improving safety, increasing effectiveness and improving patient compliance and convenience. Antares Pharma has corporate headquarters in Exton, Pennsylvania, with subsidiaries performing research, development, manufacturing and product commercialization activities in Minneapolis, Minnesota and Basel, Switzerland.

Statements included in this press release relating to Antares' expectations regarding the private placement and the terms of the securities to be issued and the potential benefits of the product pipeline, if approved, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The terms of the announced private placement are subject to approval of the American Stock Exchange and the listing on the American Stock Exchange of the shares and warrant shares to be issued, as well as other customary closing conditions. The approval of the product pipeline is subject to continued research and development, the completion of clinical trials, regulatory approval and the other risks identified from time to time in the Antares' reports filed with the U.S. Securities and Exchange Commission. Moreover, Antares cautions readers that forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those disclosed in this news release. Antares does not intend to update its forward-looking statements.