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 resu
|SOURCE Unilife Corporation|
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