Below are some additional highlights and topics covered on the conference call focused on the Company’s position as a lead innovator int he drug delivery space thanks to a focus on research and development (R&D)to create innovative systems and devices in response to global pharmaceutical company needs.
- Unilife has a strong intellectual property (IP) estate that includes over 60 granted patents and over 200 patent applications that are either under review or about to be filed, providing the Company with leverage in negotiations with global biopharmaceutical companies to secure long-term development and supply agreements for devices manufactured and owned by the Company rather than simply out-licensing the rights to drug delivery devices
-Unilife is targeting a reduction of quarterly operating expenses from around $12 million to $9-10 million per quarter over Fiscal Year2013 (which ends 6/30/13)
- In mid-June, Unilife announced a long-term supply contract for the Unifill Prefilled Syringe (http://www.unilife.com//content/view/670/305/)as part of seven-year contract that is expected to reach up to 10 million units and $15 million in annual revenue. The pharmaceutical company remains confidential at this time, but will include distribution initially in Europe for a generic equivalent to an injected auto-immune therapy with an exclusivity fee received by Unilife for the initial geography (EU) and indication (auto-immune conditions) while other regions are reserved.
- The deal announced in mid-June illustrates the leading position of the Unifill Prefilled Syringe for biopharmaceutical companies seeking to differentiate their products from the competition as well as exemplifying Unilife’s focus on achieving long-term commercial supply agreements in the $2 billion global market for prefilled injectable drugs and biological agents. The fast-approaching May 2013 deadline for EU countries to comply with laws to prevent needle sticks is another major factor in the deal and expected to result in additional deals in the region.
- Unilife reported continued progress on its Auto Infusor Devices (http://www.unilife.com//content/view/667/309/)(disposable subcutaneous delivery systems with a projected market opportunity of $500 million by 2016) for the delivery of large dose volume drugs (e.g .monoclonal antibodies) capable of delivering 1-30mL volumes over minutes to hours. Unilife reported that several global pharmaceutical companies have selected its Precision-Therapy and Flex Therapy product lines for next-phase evaluation for potential use with a several pipeline drugs that may culminate in long-term development and commercial supply agreements with additional evaluations scheduled during 2H12.
- Unilife Rita Auto-Injectors (http://www.unilife.com//content/view/666/310/)are designed for self-administration of injectable drugs by patients and incorporates the advantages and integrated safety features of the Unifill Syringe. The Company projects a $200 million market opportunity for reusable auto-injectors by 2015.
- Targeted Organ Delivery: Unilife has also applied the same needle retraction technology behind the Unifill Prefilled Syringe to enable implantation of drugs into specific areas of the body such as the eye—targeting a multi-billion dollar market opportunity for conditions such as macular degeneration, diabetic macular edema and other eye-related conditions treated with long-acting drug/device implants. Advantages include the use of a smaller needle and other innovative features designed to improve patient comfort and safety while minimizes the risk of damage to the drug implant during the procedure along with simplifying the actual process and training requirements for physicians specializing in such procedures.