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  • Unilife Corp. (UNIS) Inks Supply Agreement For EZMix Dual Chamber Syringe 0 comments
    Apr 9, 2013 6:04 PM | about stocks: UNIS

    Unilife is a developer and commercial supplier of injectable drug delivery systems. The company's portfolio of proprietary device technologies includes prefilled syringes with automatic needle retraction, drug reconstitution delivery systems, auto-injectors, wearable injectors, and targeted drug delivery systems.

    The company reported today that it signed a customization and commercial supply agreement with a U.S. pharmaceutical company for the EZMix dual-chamber syringe. Unilife will supply the customer with a customized device from its platform of EZMix dual-chamber delivery systems for use with a lyophilized drug that requires mixing at the time of injection.

    Unilife expects to generate revenues immediately and garner up to $110 million in revenues during the 15-year agreement period. This figure is based upon a customization and production scale-up program, commercial device sales, and a royalty of net drug sales. The customer's drug is in late-stage clinical development and the customer plans an accelerated path to gain U.S. regulatory approval.

    The customer has agreed to pay Unilife about $3 million over a 12-24 month period for the customization and supply of prefilled EZMix devices. The company will receive an additional $3 million to fund the production scale-up of high-volume assembly equipment to manufacture the customized device in commercial volumes.

    Unilife will also receive royalty payments (representing roughly a third of the $110 million total) on net annual commercial revenue for the drug in exchange for the customer securing worldwide exclusivity to EZMix for its target drug. The agreement includes a guaranteed minimum annual royalty payment that the customer must provide to Unilife.

    For additional information about Unlife and its portfolio of injectable drug delivery products, visit www.unilife.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: UNIS
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