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Unigene Reports Third Quarter 2011 Financial Results
Date:11/9/2011

BOONTON, N.J., Nov. 9, 2011 /PRNewswire/ -- Unigene Laboratories, Inc. (OTCBB: UGNE) a leader in the design, delivery, manufacture and development of peptide-based therapeutics, announced third quarter financial results for the period ended September 30, 2011. The Company continued solid execution of its turnaround strategy and highlighted significant progress achieved in the third quarter.

Ashleigh Palmer, Unigene's President and CEO stated, "We have made tremendous progress in the past nine months and are poised to complete the successful turnaround of Unigene as we end 2011.  We maintain clear focus on the solid execution of our targeted growth strategy and are confident Unigene and its shareholders will benefit from the multiple near-term game changing events anticipated in the coming year." Third Quarter 2011 Highlights

  • Entered Development Services and Clinical Supply Agreement with GlaxoSmithKline (GSK) in preparation of potential Phase 3 study of oral parathyroid hormone (PTH);
  • Positive Phase 3 safety and efficacy results for Unigene's oral calcitonin product, licensed to Tarsa Therapeutics, further validated industry leading oral peptide and recombinant manufacturing technology platforms;
  • Divested non-core asset to focus resources on high valuation drug development and peptide drug delivery opportunities by assigning Site Directed Bone Growth (SDBG) to leading researcher; and
  • Appointed industry veteran, Theron (Ted) Odlaug to Board of Directors.

  • Highlights Subsequent to Quarter End

  • Completed all patient dosing in Phase 2 study of oral PTH;
  • Unigene and Nordic Bioscience combine their industry leading capabilities to advance Unigene's proprietary peptides through Phase 2 proof-of-concept for multiple blockbuster indications, including diabetes; and
  • Peptide development expertise endorsed with a strategic equity investment from industry legend, Dr. Claus Chr
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  • SOURCE Unigene Laboratories, Inc.
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