Unilife and Amgen enter US$75m injectable drug delivery systems deal
Collaboration includes licensing and master development and supply agreements
Unilife Corporation, a US developer of injectable drug delivery systems, has signed an exclusive agreement with Amgen for a wearable injector device.
The collaboration gives Amgen exclusive rights to Unilife's wearable injectors within certain drug classes for use with some Amgen assets.
Unilife, headquartered in York, PA, has also granted Amgen non-exclusive rights to all of the firm's proprietary delivery systems within the therapeutic areas of oncology, inflammation, bone health, nephrology, cardiovascular and neuroscience.
Amgen made a US$15m payment to Unilife in connection with the exclusivity deal in December 2015. In addition, Unilife is eligible to receive up to $75m. At closing, Amgen paid a nonrefundable $20m licensing fee and purchased a $30m senior secured convertible note from Unilife. Amgen may also purchase up to an additional $25m in senior secured convertible notes over the next two years ($15m in January 2017 and $10m in January 2018).
In addition to these payments, Unilife expects to generate future revenue from the strategic collaboration with Amgen.
'Unilife looks forward to a long-term strategic collaboration with Amgen to drive value for patients, prescribers and payers,' said Ian Hanson, Senior Vice President and General Manager of Unilife's Wearable Injector business unit. 'Unilife is pleased to advance its leadership position in the wearable injectors market to meet growing demand for biologics and other medicines. Our prefilled, pre-assembled and ready-to-inject delivery systems are easy-to-use and enhance patient experience.'
Alison Moore, Senior Vice President of Process Development at Amgen, added: 'One important pillar of Amgen's strategy is to invest in leading drug delivery technologies to more effectively meet the needs of patients suffering from serious illnesses. Unilife continues to develop technology that could provide patients with innovative and meaningful enhancements to drug administration.'