Adamis Pharmaceuticals Signs Agreement to Acquire Dry Powder Inhaler Technology From 3M Company

Adamis Pharmaceuticals Signs Agreement to Acquire Dry Powder Inhaler Technology 
From 3M Company 
SAN DIEGO, CA -- (Marketwired) -- 08/06/13 --  Adamis Pharmaceuticals
Corporation (OTCQB: ADMP) announced today that it has entered into an
agreement to exclusively license and, with additional payment, fully
acquire 3M Company's (NYSE: MMM) Taper Dry Powder Inhaler (DPI)
technology under development for the treatment of asthma and chronic
obstructive pulmonary disease (COPD). As a part of the agreement,
Adamis will obtain worldwide rights to use this platform technology
in all indications in the dry powder inhalation field. The unique
design uses proprietary 3M technology to store active pharmaceutical
ingredient (API) on a microstructured carrier tape. 3M will supply
the drug delivery tape for the platform to Adamis under a separate
supply agreement. 3M Drug Delivery Systems is a pioneer in the area
of novel inhalation drug delivery technology and has more than 50
years of experience and proven success in the field.  
In its current stage of development, 3M Taper Dry Powder Inhaler
combines patient-friendly design and active aerosolization to provide
effective delivery of drug in a multi-dose DPI. Additional advantages
of the current technology include:  


 
--  Can be used with single or combination drugs;
--  Virtually eliminates need for complex powder treatments or lactose in
    most formulations;
--  Holds up to 120 doses in convenient pocket sized design;
--  API dose range up to 1 milligram;
--  Protects against moisture ingress;
--  Utilizes patented 3M breath actuated technology and has simple open,
    inhale, close functionality;
--  Integrates dose counter to ensure patients know how many doses
    remain.

  
The Taper DPI inhaler was being developed by 3M Drug Delivery Systems
to compete with other dry powder inhalers such as GlaxoSmithKline's
(GSK) Advair Diskus(R). According to IMS Health data, the global
asthma and COPD prescription market is more than $34 billion and is
averaging 7% growth per year. According to IMS, annual sales of the
Advair Diskus(R) are approximately $5 billion in the United States
and $8 billion globally for the indications of asthma and COPD. 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. 
Current data indicates this platform technology has the potential to
be compatible with a wide range of formulations; Adamis intends to
pursue a number of other important drug candidates, which if
successfully developed, could substantially increase the potential
value of this transaction to Adamis and its shareholders.  
Dr. Dennis J. Carlo, President and CEO Adamis stated, "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." 
Under the terms of the agreement, Adamis made an initial payment to
exclusively license the Taper technology through December 31, 2013,
and upon payment of an additional amount before December 31, 2013,
will fully acquire the Taper technology. For additional information
concerning the company's agreement with 3M, see the Report on Form
8-K that the company filed today with the Securities and Exchange
Commission. 
About Adamis Pharmaceuticals Corporation 
Adamis Pharmaceuticals Corporation is a biopharmaceutical company
engaged in the development and commercialization of specialty
pharmaceutical and biotechnology products in the therapeutic areas of
respiratory disease, allergy, oncology and immunology. In addition to
the Taper technology, Adamis currently has three products in its
specialty pharmaceutical product pipeline, including the Epinephrine
Injection PFS syringe product for use in the emergency treatment of
anaphylaxis, APC-1000 for the treatment of asthma and chronic
obstructive pulmonary disease, and APC-3000, an HFA inhaled nasal
steroid product for the treatment of allergic rhinitis. The Company's
biotechnology efforts are focused on the development of therapeutic
vaccine product candidates and cancer drugs for patients with unmet
medical needs in the multi-billion dollar global cancer markets. Its
products under research and development include TeloB-VAX, a novel
cell-based therapeutic cancer vaccine and three drugs: and APC-100,
APC-200, and APC-300, for the treatment of prostate cancer. 
Forward Looking Statements 
This press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
These statements relate to future events or our future results of
operations or future financial performance that could differ in
material respects from the company's current beliefs, including, but
not limited to the following statements: the company's beliefs
concerning successful development of the Taper product and its
advantageous product features; the likelihood of obtaining FDA and
other required regulatory approvals for the Taper product and other
products; the company's ability to raise sufficient funds to pay the
balance of the purchase price for the Taper assets and to support its
product development efforts; the company's beliefs concerning the
ability of Taper and other products to compete successfully in the
market; the company's beliefs concerning the safety and effectiveness
of the compounds and drug product candidates described in this press
release; the results of any future clinical trials that the company
may conduct relating to its product candidates; the ability to fund
the company's continued operations and future product development;
future revenues expected from any of its product candidates, assuming
that they are developed and approved for marketing by the FDA and
other regulatory authorities; and the intellectual property
protection that may be afforded by any patents or patent applications
relating to its products and product candidates. Statements in this
press release concerning future events depend on several factors
beyond the company's control, including receipt of adequate funding
to support these activities, market conditions, and the regulatory
approval process. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors, which may
cause Adamis' actual results to be materially different from these
forward-looking statements. Certain of these risks, uncertainties,
and other factors, and additional information concerning the
transaction described in this press release, are described in greater
detail in Adamis' filings from time to time with the SEC, which
Adamis strongly urges you to read and consider
, all of which are
available free of charge on the SEC's web site at http://www.sec.gov.
Except to the extent required by law, Adamis expressly disclaims any
obligation to update any forward-looking statements.  
Adamis Contacts 
Mark Flather
Director, Investor Relations &
Corporate Communications
Adamis Pharmaceuticals Corporation
(858) 412-7951
mflather@adamispharma.com 
Mark Gundy
Capital Group Communications, Inc.
(972) 240-1873
mark.gundy@capitalgc.com 
 
 
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