Unilife secures new financing

|About: Unilife Corporation (UNIS)|By:, SA News Editor

Unilife (UNIS) closes $60M debt deal with OrbiMed. $40M funds immediately followed by $10M in December and $10M in June 2015.

The six-year agreement stipulates the company make interest-only payments at a rate of 10.25% per annum. The principal is due by March 12, 2020.

OrbiMed will earn tiered royalty payments on Unilife net sales up to a maximum of 2.75%.