Unilife Announces Clinical Supply Agreement for Delivery of a Novel Drug
YORK, Pa., Dec. 2, 2013 /PRNewswire/ -- Unilife Corporation ("Unilife" or "Company") (NASDAQ: UNIS, ASX: UNS) today announced an agreement with Novartis to supply clinical products from one of its platforms of injectable drug delivery systems for use with one of Novartis' targeted early-stage pipeline drugs.
Under this agreement, Unilife will supply Novartis with a customized delivery device, consisting of syringe, needle, tubing, controller and pump, to enable administration of a novel investigational Novartis drug into a targeted organ in clinical trials. Unilife has granted Novartis an option for exclusivity under this agreement.
The program to supply customized products for clinical use with Novartis drug candidates is the next phase in a development collaboration between the parties that was commenced in 2011, and continues to progress successfully. Under this agreement Unilife will generate revenue on the basis of the clinical product supplies and activities involved in clinical development.
Mr. Alan Shortall, Chief Executive of Unilife said, "I am pleased with our success to date in being an effective collaborator with Novartis. This is another example of Unilife addressing the unmet needs of pharmaceutical companies to deliver advanced drugs in their pipelines. I am excited to supply Novartis with a differentiated game-changing device that provides alternative options for drug delivery."
For commercial purposes and due to confidentiality clauses in the agreement, additional terms of the agreement, are to remain confidential at this time.
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based developer and commercial supplier of injectable drug delivery systems. Unilife's broad portfolio includes prefilled syringes with automatic needle retraction, drug reconstitution delivery systems, auto-injectors, wearable injectors, ocular delivery systems and novel devices. Each of these innovative, differentiated platforms can be customized by Unilife to address specific customer, drug and patient requirements. Unilife's global headquarters and state-of-the-art manufacturing facilities are located in York, PA. For more information, please visit www.unilife.com or download the Unilife IRapp on your iPhone, iPad or Android device.
This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and elsewhere in our Annual Report on Form 10-K and those described from time to time in other reports which we file with the Securities and Exchange Commission.
Investor / PR Contacts (US):
Investor Contacts (Australia)
Todd Fromer / Garth Russell
KCSA Strategic Communications
P: + 1 212-682-6300
P: + 1 415-202-5678
P: + 61 2 8346 6500
SOURCE Unilife Corporation