YORK, Pa., Nov. 11, 2013 /PRNewswire/ -- Unilife Corporation (NASDAQ: UNIS, ASX: UNS), a U.S. based designer, developer and manufacturer of injectable drug delivery systems, today announced an agreement with MedImmune, the global biologics research and development arm of AstraZeneca, to customize and supply devices from its platform of wearable injectors for use with molecules in MedImmune's pipeline.
Under this agreement, Unilife will supply MedImmune with customized devices from its platform of ReadyToGo™ wearable injectors. Several drug candidates from MedImmune's portfolio may be selected for use with Unilife's wearable injectors under the agreement.
Mr. Alan Shortall, Chief Executive of Unilife, said, "This is the dawn of a new era for injectable drug delivery where a very sophisticated new class of wearable, disposable devices will allow patients to deliver the most advanced therapies with maximum comfort and convenience. I am delighted that Unilife is setting the standard in serving biotech customers, such as MedImmune, and their patients within this category."
"We are pleased that MedImmune selected Unilife's technology after conducting a thorough evaluation process to identify simple and convenient wearable injectors that can be used to administer an injectable therapy wherever the patient is," Mr. Shortall concluded.
Unilife will generate revenue starting in the first quarter of fiscal 2014 on the basis of the customization and supply of its products to MedImmune. Additional terms of the contract have not been disclosed.
The wearable injection category is expected to generate device sales in excess of $3 billion within five to seven years.
Conference Call InformationUnilife is hosting its quarterly earnings conference call at 4:30 p.m. U.S. EST today, during which the Unilife management team will review its financial results for the quarter ended September 30, 2013, this contract, other commercial partnerships and its future outlook. To listen, please go to: http://ir.unilife.com/events.cfm.About the ReadyToGo Wearable InjectorsThe Unilife portfolio of ReadyToGo wearable injectors is a game-changing platform that addresses the unmet needs of biotech customers in delivering high-dose volume therapies wherever the patients are. The ReadyToGo wearable injectors are supplied to the patient prefilled with the drug and ready-for-injection with no extra steps or parts required. Only three simple steps are required to inject the dose: peel, stick, click, with an on-body safety interlock, a Flexwear™ comfort catheter and an electronic user interface among an array of features that maximize patient comfort and awareness during all stages of use. The devices are designed to minimize disruption to a patient's normal daily lifestyle during the period of dose delivery.
The ReadyToGo wearable injectors are designed for integration with standard filling processes, utilize standard materials in the primary drug container and require no terminal sterilization. A fully programmable delivery regimen allows the bolus, basal or variable rate of dose delivery to be customized to specific customer, therapy and patient requirements. The electronics in the device can be easily detached and disposed for markets that require special electronics disposal procedures. A video of Unilife's platform of wearable injectors can be viewed on the Unilife website at http://bit.ly/19MYWTA.
About Unilife Corporation Unilife Corporation (NASDAQ: UNIS / ASX: UNS) is a U.S. based developer and commercial supplier of injectable drug delivery systems. Unilife's broad portfolio includes prefilled syringes with automatic needle retraction, drug reconstitution delivery systems, auto-injectors, wearable injectors, ocular delivery systems and novel devices. Each of these innovative, differentiated platforms can be customized by Unilife to address specific customer, drug and patient requirements. Unilife's global headquarters and state-of-the-art manufacturing facilities are located in York, PA. For more information, please visit www.unilife.com or download the Unilife IRapp on your iPhone, iPad or Android device.
Forward-Looking Statements 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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