Unilife Corporation (UNS) announced the signing of a clinical development and supply agreement with a global pharmaceutical company for a novel device for targeted organ delivery. The proprietary Unilife device is intended to be used in a drug clinical trial that is scheduled to commence in early 2012. The terms of the agreement and the pharmaceutical company are to remain confidential at this time. Unilife will receive $1.4 million in development fees and revenue from initial unit sales of the devices for the clinical trial under the first phase of this program. Upcoming phases of the clinical development program are expected to generate additional revenues for Unilife over the coming year.
Unilife Chief Executive Officer, Alan Shortall, stated, “Unilife is addressing the unmet needs of another global pharmaceutical company with the development of a technology that enables the delivery of a pipeline drug to a target organ of the human body. We look forward to supplying our device to the pharmaceutical customer for use in human drug clinical trials, and eventually for the commercial supply of the drug upon the successful completion of its clinical development and regulatory approval. “The economic opportunity is significant here. The target disease state has a high prevalence and affects a significant and growing proportion of people in the U.S. and around the world. The current annual treatment costs for the disease exceeds $30 billion in the U.S. Alone.
Unilife Corporation (UNS) is a U.S. based developer and commercial supplier of advanced drug delivery systems. Unilife collaborates with pharmaceutical and biotechnology companies seeking innovative, differentiated devices that can enable or enhance the delivery of injectable drugs and vaccines supplied in either a liquid stable or lyophilized form. The Unifill syringe, the world’s first and only prefilled syringe with fully integrated safety features, sits at the leading edge of this diversified portfolio. In addition to prefilled and hypodermic safety syringes with automatic, user-controlled needle retraction, Unilife has other proprietary technology platforms including drug reconstitution delivery systems, auto- injectors, auto-infusion pump systems, specialized devices for targeted organ delivery. Unilife’s global headquarters and state- of-the-art manufacturing facilities are located in York, PA.
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