Unilife Device Selected for Clinical Trials in Q1 2012
Initial Agreement with another Global Pharmaceutical Company Signals
Unilife's Expansion into Other Segments of Drug Delivery Device Market
York, PA (June 7, 2011) -
Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS)
today announced one of its portfolio devices was selected by a leading global pharmaceutical company for clinical trials in conjunction with a pipeline biologic drug for targeted organ delivery. The clinical trial is planned to commence within the fourth quarter of 2011 to the first quarter of 2012.
An initial quantity of devices was delivered by Unilife to the pharmaceutical customer in April 2011 for clinical evaluation, based on an initial agreement that was signed with the pharmaceutical customer. The terms of that agreement and the pharmaceutical customer are confidential at this time. The follow-on clinical supply agreement for final development of the clinical device units and their delivery for the upcoming clinical trial is expected to occur shortly.
Unilife Chief Executive Officer, Alan Shortall , stated, " Targeted organ delivery is one of the key technology platforms within Unilife's rapidly expanding device portfolio. This initial agreement with another leading global pharmaceutical company signals the start of our expansion into other high-value segments in advanced drug delivery systems.
"Our rapidly expanding platform of proprietary devices is being driven in direct response to the emerging and unmet needs of our pharmaceutical customers. The drug delivery market is now being driven by a new paradigm whereby pharmaceutical companies want innovative devices that are customized to meet the specific needs of highly specialized biologics and the target patient population. Pharmaceutical companies especially desire devices with superior safety and functionality features that can enable their drug products to generate powerful brand differentiation within competitive markets.
"We are able to secure agreements like this because of the successful commercialization of the Unifill ® syringe. Our entire business is now fully aligned around addressing the unmet needs of pharmaceutical customers with an unparalleled level of speed, innovation and performance.
"We are now replicating our success with the Unifill syringe on a grand scale, with the development of a rich and expansive portfolio of additional pipeline devices. Every one of these products has the potential to revolutionize the delivery of therapeutic drugs within its respective class. Because of our fortitude and foresight in aligning our business to fully serve the needs of our customers early in their clinical development pipeline, we anticipate significant returns as these products are commercialized a few years down the road ,"
concluded Mr. Shortall.
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in Pennsylvania. Established in 2002, Unilife works with pharmaceutical and biotechnology companies seeking innovative devices for use with their parenteral drugs and vaccines. Unilife has developed a broad, differentiated proprietary portfolio of its own injectable drug delivery products, including the Unifill and Unitract product lines of safety syringes with automatic, operator controlled needle retraction. Unifill represents the world's first prefilled syringe technology integrating safety within the primary drug container. The products are ideally positioned to help pharmaceutical companies maximize the lifecycle of their injectable drugs and enhance patient care. Unifill syringes, together with other devices that are part of the Unilife technology platform, can either be supplied to pharmaceutical customers ready for use, or customized to address the specific requirements of targeted novel drugs. For more information on Unilife, please visit www.unilife.com
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.
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