Antares Pharma Inc. and Uman Pharma said Tuesday they signed a development deal for the injectable device Vibex with the drug Methotrexate.
Antares' Vibex is a potential new delivery system and Methotrexate is already used as a treatment for rheumatoid arthritis.
Under the deal, the companies will jointly invest in developing and selling the drug, while Antares leads the development program.
Financial details of the deal were undisclosed.
Shares of Antares rose 3 cents to $1.60 in midday trading.