Unilife Corp (NASDAQ:UNIS)’s unique Unifill Finesse contract with Sanofi
On 9 September 2013, Unilife Corp (NASDAQ:UNIS) announced that it has signed a long-term contract with Sanofi SA (NYSE:SNY). Via this contract it will supply the latter with a customized device called Unifill Finesse. The Unifill platform includes prefilled syringes that have automatic needle-retraction. These are to be used with Enoxaparin Sodium, the anti-thrombotic therapy that is marketed under the Clexane and Lovenox brand names. This contract period may extend right upto 2024.
UNIS has granted SNY exclusive-use of Unifill Finesse with the anti-thrombotic drugs in the contract period. This exclusivity will be maintained post a 4-year ramp-up time frame post market entry. However, this will be subject to SNY buying at least 150M units of either Unifill Finesse or any other of UNIS’ syringes on an annual basis.
Under the agreement, UNIS will be able to supply Unifill Finesse and other Unifill syringes to other customers in various therapeutic classes that are removed from the anti-thrombotics segment. In addition to any future revenue that the company generates from the Unifill Finesse syringes sales, it may receive an amount of upto $15M from SNY in milestones-based payments. Of these, $5M is expected to come in 2013.
This particular supply-contract will replace and also supersede any other agreements that have been signed by both the companies with reference to the Unifill syringe platform. All additional terms of this contract are being kept confidential due to confidentiality clauses and for commercial purposes.
Unilife Corp (NASDAQ:UNIS) develops and commercializes various injectible drug-delivery systems. It signs long-term agreements with biotechnology and pharma companies that seek to use the company’s differentiated devices. These devices are used to either enhance or enable the clinical development, lifecycle management and regulatory approval of UNIS’s injectible therapies. Its device portfolio can be used with biosimilar or generic drugs as well as with vaccines.