Exhibit 99.1

[Logo of Antares Pharma]

Contact Information
Dr. Roger Harrison        CEO and President                      (610) 458-6200
Lawrence M. Christian     CFO and Vice President - Finance       (610) 458-6200
Jay M. Green              Managing Director, Duncan Capital      (212) 581-5150


         ANTARES PHARMA ANNOUNCES $2.0 MILLION PRIVATE EQUITY PLACEMENT

Exton, Pennsylvania - July 9, 2003 - Antares Pharma, Inc. (OTCBB: ANTR) today
announced that it completed a $2.0 million private placement of common equity at
the July 3, 2003, closing price of $1.00 per share. This placement constitutes a
second investment in Antares Pharma by the Xmark Funds and SDS Merchant Fund,
LP.

     Lawrence Christian, Chief Financial Officer of Antares Pharma, said, "We
are pleased to have Xmark Funds and SDS Merchant Fund express continued
confidence in our Company and our business model. The funds will be used to
support ongoing operations of the Company as we deliver on our 2003 business
plan of closing on at least two technology licensing agreements by year end."

     David Cavalier, Chief Operating Officer of Xmark Funds, commented, "This
further investment in Antares represents a strategic investment for our fund. We
believe in management's vision of the future of the Company's technology
platforms and the impact that they could have in the drug delivery sector."

About Antares Pharma

     Antares Pharma develops pharmaceutical delivery systems, including
needle-free and mini-needle injector systems and transdermal gel technologies.
These delivery systems are designed to improve both the efficiency of drug
therapies and the patient's quality of life. The Company currently distributes
its needle-free injector systems in more than 20 countries. In addition, Antares
Pharma conducts research and development with transdermal gel products and
currently has several products in clinical evaluation with partners in the US
and Europe. The Company is also conducting ongoing research to create new
products that combine various elements of the Company's technology portfolio.
Antares Pharma has corporate headquarters in Exton, Pennsylvania, with
manufacturing and research facilities in Minneapolis, Minnesota, and research
facilities in Basel, Switzerland.

     Statements included in this press release that are not historical in nature
are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. The Company cautions readers that forward-looking
statements are subject to certain risks and uncertainties, which could cause
actual results to differ materially and which are identified from time to time
in the Company's reports filed with the U.S. Securities and Exchange Commission.
Antares Pharma claims the protection of the Safe Harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.

          For more information, visit Antares Pharma's web site at
     www.antarespharma.com. Information included on the Company's website is not
     incorporated herein by reference or otherwise.

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