YORK, Pa., Oct. 10, 2012 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today announced the strategic expansion of its commercial development team, with the appointment of four senior executives from several leading companies in the drug delivery device market.
Mr. Alan Shortall, CEO of Unilife said: "Unilife has established a broad and market-driven portfolio of injectable drug delivery systems. The Unilife commercial pipeline is growing with many pharmaceutical companies seeking to utilize our innovative, differentiated devices to enable and enhance their injectable therapies. These commercial opportunities are advancing towards the signing of new development or commercial supply agreements.
"Driven by the rapid growth of our customer engagements and increasing pace of customer interactions, and in full accordance with our business plan, I am pleased to announce the addition of four new senior executives to our commercial development team. These new appointments include some of the most experienced, highly respected commercial development professionals in the drug delivery device industry.
"With more than 80 years of combined experience among them, these executives are joining Unilife because they recognize the commercial opportunity of our broad device portfolio and capability to serve pharmaceutical customers with speed, agility and reliability. They recognize that our customer-driven model for injectable drug delivery systems is the way of the future. I fully expect that our expanded commercial development team will not only strengthen many of Unilife's existing customer relationships, but also generate many new commercial opportunities in the months and years ahead."
Mr. Shortall continued, "Given the accelerating nature and growing size of our commercial pipeline, Unilife has taken several other steps to further strengthen its ability to finalize negotiations with pharmaceutical customers, and support potential future expansion of our production capabilities. This includes the recent implementation of a long-term equity facility that gives us the option to progressively raise at the appropriate time up to $45 million of additional capital at pricing and with terms that would be favorable to Unilife. The Company has not yet accessed any capital from this facility. Furthermore, there are no imminent plans to access any amount of capital from this facility. It is however beneficial to have this flexible option in place as we negotiate commercial supply and development agreements with pharmaceutical companies."
About Unilife Corporation
Unilife Corporation (NASDAQ:UNIS / ASX: UNS) is a U.S. based developer and commercial supplier of advanced drug delivery systems. Unilife collaborates with pharmaceutical and biotechnology companies seeking innovative, differentiated devices that can enable or enhance the delivery of injectable drugs and vaccines supplied in either a liquid stable or lyophilized form. The Unifill syringe, the world's first and only prefilled syringe with fully integrated safety features, sits at the leading edge of this diversified portfolio. In addition to prefilled and hypodermic safety syringes with automatic, user-controlled needle retraction, Unilife has other proprietary technology platforms including drug reconstitution delivery systems, auto-injectors, auto-infusion pump systems and specialized devices for targeted organ delivery. Unilife's global headquarters and state-of-the-art manufacturing facilities are located in York, PA. For more information on Unilife, please visit www.unilife.com
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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SOURCE Unilife Corporation