Adamis Pharmaceuticals has announced that it will exclusively license and then acquire 3M’s Taper API-only dry powder inhaler. The company said that “Upon completion of development and clinical activities required to obtain required regulatory approval, Adamis will seek to compete for a share of the Advair market with a branded generic version utilizing 3M’s Taper DPI technology” as well as developing the device for other indications.
The initial license will extend through December 31, 2013. For further details, the company said, the Report on Form 8-K filed with the SEC should be consulted.
Adamis President and CEO Dennis J. Carlo commented, “There are a limited number of companies that have the capability to develop this type of novel inhalation drug delivery technology, and 3M is considered one of the leaders. To date, there is no low cost alternative to Advair. We believe that the exclusive license and acquisition of the 3M Taper DPI technology provides Adamis with a blockbuster opportunity in the branded generic asthma/COPD market, where even a small market share could generate a very large potential return on investment for Adamis shareholders. This technology strengthens the company’s respiratory product pipeline and has the potential to provide solid growth for Adamis for years to come and I believe the acquisition of this pivotal technology could be a transforming event for our company. This acquisition is consistent with one of the objectives outlined in my recent letter to shareholders in a press release dated May 3, 2013.”
Adamis is calling the new inhaler APC-5000 for now. The company’s pipeline also includes respiratory and nasal steroid HFA MDIs, known as APC-1000 and APC-3000 respectively.
Read the Adamis press release.
