Adamis Pharmaceuticals Announces Completion of Acquisition

Adamis Pharmaceuticals Announces Completion of Acquisition 
SAN DIEGO, CA -- (Marketwired) -- 01/07/14 --  Adamis Pharmaceuticals
Corporation (NASDAQ: ADMP) announced today that at a closing held on
December 27, 2013, it made a final payment of $7 million to fully
acquire from 3M Company and 3M Innovative Properties Company certain
intellectual property and assets relating to 3M's Taper Dry Powder
Inhaler technology under development for the treatment of asthma and
chronic obstructive pulmonary disease (COPD). Adamis intends to
utilize the assets initially to undertake efforts to develop a dry
powder inhaler device for the treatment of asthma and COPD to deliver
the same active ingredients as GlaxoSmithKline's Advair Diskus(R).
The intellectual property includes patents, patent applications and
other intellectual property relating to the Taper assets. 
As has previously been reported, on August 1, 2013, Adamis made an
initial payment to 3M of $3 million and obtained an exclusive
worldwide license to the assets and intellectual property in all
indications in the dry powder inhalation field through December 31,
2013. The agreement provided that upon a subsequent closing payment
by Adamis of an additional $7 million before December 31, 2013, and
satisfaction of other customary closing conditions, ownership of the
assets and intellectual property would be transferred to Adamis, with
Adamis granting back to 3M a license to the intellectual property
assets outside of the dry powder inhalation field. 
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. Adamis'
current specialty pharmaceutical product candidates include the
Epinephrine Injection PFS syringe product for use in the emergency
treatment of anaphylaxis, APC-1000 and APC-5000 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 vaccine product candidates and cancer drug
product candidates under research and development include TeloB-VAX,
a cell-based therapeutic cancer vaccine and three drugs, APC-100,
APC-200, and APC-300, for the treatment of prostate cancer. 
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