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Unilife Announces Financial Results for the Third Quarter of Fiscal 2011
Date:5/16/2011

YORK, Pa., May 16, 2011 /PRNewswire/ -- Unilife Corporation ("Unilife" or "Company") (NASDAQ: UNIS; ASX: UNS) today announced its financial results for the three and nine months ended March 31, 2011 (Third Quarter of Fiscal 2011).

Recent Company Highlights:

  • Began initial production of the Unifill® ready-to-fill (prefilled) syringe at York, PA facility
  • Initial product sales expected to commence in July 2011
  • Initiated scheduled business realignment to enhance operational focus, improve efficiencies and drive continuous growth
  • Strengthened frontline sales and marketing departments to expand and consolidate commercial relationships with multiple pharmaceutical companies
  • Established organizational structure driven by dynamic project-focused teams to enable innovation and speed for commercialization of multiple new devices
  • Accelerated discussions with multiple pharmaceutical companies for the Unifill syringe
  • Emerging opportunities to develop other Unilife proprietary device technologies that can be customized to address specific and currently unmet requirements for target biological drugs in the R&D pipeline
  • Signed term sheet with a large equipment financing company for up to $12.0 million in financing for the initial production line for the Unifill syringe
  • Strengthened Unilife's financial position, with the Company now expected to have sufficient cash to sustain business operations until at least the end of fiscal 2012

  • Mr. Alan Shortall, Chief Executive Officer of Unilife, stated, "The third quarter of fiscal 2011 marked a significant period for Unilife, as we initiated production of the Unifill syringe. With this major milestone now completed, we are conducting final product validation procedures and expect to commence initial sales of the Unifill syringe to pharmaceutica
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    SOURCE Unilife Corporation
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