YORK, Pa., Aug. 15, 2011 /PRNewswire/ — Unilife Corporation
(“Unilife” or the “Company”) (NASDAQ:
UNIS; ASX: UNS) today announced it has finalized a previously
disclosed Equipment Financing Agreement (the “Agreement”) with
Varilease Finance, Inc. for $10 million in available funding. This
agreement will immediately replenish cash Unilife has previously
invested to finance the automated assembly line now manufacturing
the Unifill® ready-to-fill (prefilled) syringe at its
manufacturing facility in York, PA.
Mr. Alan Shortall, Chief Executive Officer of Unilife, stated,
“One of our goals is to constantly seek innovative methods for
financing our business expansion so as to minimize any immediate
need for equity financings. The financing agreement with Varilease
provides us with additional capital resources that we can use to
support continued sales and marketing of the Unifill syringe to
current and additional pharmaceutical customers, as well as to
fast-track the commercialization of other exciting new pipeline
products. We are building a relationship with Varilease that can
lead to future financing agreements in order to support much of our
anticipated capital equipment requirements as we continue to grow
our business.
“In addition to this new capital equipment financing
relationship with Varilease, Unilife also has an extensive range of
other near to mid-term revenue generating opportunities. We remain
very confident in the continued supply and sale of the Unifill
syringe to current and additional pharmaceutical customers. Several
of these pharmaceutical companies have expressed interest in
securing special access to the Unifill syringe and other pipeline
devices within a designated therapeutic drug class that would
result in the receipt of access or royalty fees.
“We also expect to receive revenues relating to the development
and sale of other pipeline
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