Attached files
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8-K - FORM 8-K - Unilife Corp | c07125e8vk.htm |
EX-10.1 - EXHIBIT 10.1 - Unilife Corp | c07125exv10w1.htm |
EX-10.5 - EXHIBIT 10.5 - Unilife Corp | c07125exv10w5.htm |
EX-10.2 - EXHIBIT 10.2 - Unilife Corp | c07125exv10w2.htm |
EX-10.3 - EXHIBIT 10.3 - Unilife Corp | c07125exv10w3.htm |
EX-10.4 - EXHIBIT 10.4 - Unilife Corp | c07125exv10w4.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Unilife Secures U.S. Government Financial Backing for the
Completion of New Global Headquarters and Manufacturing
Facility in York, PA
Completion of New Global Headquarters and Manufacturing
Facility in York, PA
Construction of state-of-the-art safety syringe manufacturing facility
remains on-schedule for completion in late-2010
remains on-schedule for completion in late-2010
Lewisberry, PA (October 21, 2010) Unilife Corporation (Unilife or Company) (NASDAQ: UNIS,
ASX: UNS) today announced that it has secured U.S. Government financial backing to support the
construction of its new global headquarters and manufacturing facility in York, Pennsylvania.
The U.S. Department of Agriculture (USDA) has agreed to guarantee $10 million of an $18 million
mortgage Unilife has now obtained from Metro Bank of Harrisburg to support construction of the
165,000 square foot state-of-the-art facility.
Unilife previously qualified for an additional $5.4 million in grants and loans from the
Commonwealth of Pennsylvania, the majority of which relates to the development of the York
facility. The combined financial commitments by U.S. and Pennsylvania Government agencies represent
approximately half of the total $31 million projected cost of the York facility.
Mr. Alan Shortall, Chief Executive Officer of Unilife, stated, We wish to thank government leaders
for their continued collaboration with Unilife. This round of government financial support improves
our balance sheet and offers us access to capital under very favorable terms. The support and
interest we have received at the federal and state level has been overwhelmingly positive.
I believe this strong government backing reflects our status as a fast-growing Pennsylvania
company that is committed to local high-skilled job creation, and the production of best-in-class
syringes which can provide a safer environment for healthcare workers and enhanced care for
patients.
Mr. Tom Williams, State Director of the USDA, stated, The USDA is working to ensure that rural
communities have the tools they need to expand economic opportunity and improve their quality of
life. The USDA congratulates Unilife on its strong life science investment into central
Pennsylvania, bringing with it high-skill jobs in a high-tech, fast growing market sector.
Michael J. Bunn, Vice President and Regional Manager of Metro Bank, stated, Together with the
USDA, Metro Bank is proud to help make possible the growth and job creation underway at Unilife and
proud to have a positive impact on economic development in our region. We are also pleased to have
another growing global company among our expanding portfolio.
To ensure facility construction timelines continue to align with the accelerated industrialization
program for the Unifill® ready-to-fill (prefilled) syringe, Unilife has already invested
approximately $10 million of its own cash reserves in the project. The Company does not expect it
will be required to lay out any additional cash to finance the completion of the York facility.
Construction of the York facility remains fully on schedule for completion in late-2010. The
facility has been designed by leading pharmaceutical architects to have the annual capacity to
manufacture up to 400 million units of Unilifes proprietary range of safety syringes.
Unilife Corporation
633 Lowther Road, Lewisberry, PA 17339 T + 1 717 938 9323 F + 717 938 9364 E info@unilife.com W www.unilife.com
633 Lowther Road, Lewisberry, PA 17339 T + 1 717 938 9323 F + 717 938 9364 E info@unilife.com W www.unilife.com
The York facility shall feature world-class manufacturing, environmental control and material
handling systems that will maximize overall production efficiencies and meet the highest
pharmaceutical standards for primary drug containers. It will incorporate eight Class 8 (100,000)
and three Class 7 (10,000) clean rooms where environmental factors such as temperature, humidity
and particulate matter will be tightly controlled. An advanced Water-for-Injection (WFI) system
will meet established pharmaceutical standards of water purity required for the production of the
Unifill® ready-to-fill syringe.
Additional amenities that further enhance Unilifes capacity to be a preferred supplier to
pharmaceutical customers includes a product development center, a microbiology lab, quality
inspection and control rooms and a fully segregated warehouse for efficient inventory management.
Since initial ground breaking commenced in December 2009, Unilife and its construction partners
have made rapid progress in the development of the York facility. Activities completed to-date
include the erection of all exterior walls and roofing, as well as the installation of cooling
towers, piping and sprinklers in the 110,000 square foot production wing. Installation of clean
rooms, air-conditioning and other essential systems in the production wing are also well under way,
clearing the path for the scheduled installation of initial automated assembly lines and other
production equipment later this year.
In addition, construction of the framework of the 54,000 square foot office wing, which will serve
as Unilifes global headquarters and support management functions, has recently been completed.
Unilife is targeting the relocation and consolidation of staff from its current Lewisberry sites to
the new facility to occur in mid-December.
We are excited by the progress we have made at the construction site for our new headquarters and
manufacturing facility, continued Shortall. Despite construction starting in December 2009,
which marked the beginning of one of the worst winters on record in Pennsylvanias history, the
construction of the facility remains on schedule. We are confident that the facility will be ready
for operations by the end of this year to align with the industrialization program for the Unifill®
syringe. This state-of-the-art facility, together with the rapid expansion of our operational
capabilities and internal expertise, will help us meet anticipated demand for our products, and
become a preferred, long-term supplier to a number of pharmaceutical companies.
Unilife has also secured zoning approval for a potential 100,000 square foot extension at the York
facility that would increase total annual production capacity of the site to an optimal target of
one billion units of Unilifes proprietary range of safety syringes.
Please visit the Unilife website (www.unilife.com) to see the progress and for a full description
of the facilitys capabilities. Photos of Unilifes York facility can be viewed at the site.
About Unilife Corporation
Unilife Corporation is a U.S.-based medical device company focused on the design, development,
manufacture and supply of a proprietary range of retractable syringes. Primary target customers for
Unilife products include pharmaceutical manufacturers, suppliers of medical equipment to healthcare
facilities and patients who self-administer prescription medication. These patent-protected
syringes incorporate automatic and fully-integrated safety features which are designed to protect
those at risk of needlestick injuries and unsafe injection practices. Unilife is ISO 13485
certified and has FDA-registered medical device manufacturing facilities in Pennsylvania.
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 managements 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 registration
statement on Form 10 and those described from time to time in our periodic reports which we file with the
Securities and Exchange Commission.
General: UNIS-G |
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Investor Contacts (US):
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Investor Contacts (Australia) | |||
Todd Fromer / Garth Russell
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Stuart Fine | Jeff Carter | ||
KCSA Strategic Communications
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Carpe DM Inc | Unilife Corporation | ||
Phone + 1 212-682-6300
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Phone + 1 908 469 1788 | Phone + 61 2 8346 6500 |