Unilife Signs Agreement with Global Pharmaceutical Company Seeking to Use Ocu-Ject™ to Deliver a Drug into the Eye
Unilife Corporation today announced the signing of an agreement with a global pharmaceutical company seeking to use the Unilife Ocu-ject™ ocular drug delivery system to deliver a target injectable therapy into the eye.
The identity of the global pharmaceutical company, one of the market leaders in ophthalmic therapies, as well as other terms of the agreement are not disclosed for commercial purposes and due to confidentiality requirements. Unilife will begin to generate revenue under the program in January 2014.
Unilife's Ocu-ject platform offers a breakthrough technology for the accurate and precise delivery of small dose volumes measured in microliters (uL) into the eye. Most ocular therapies for the treatment of conditions such as age-related macular degeneration, diabetic retinopathy, and diabetic macular edema are administered via intravitreal injection using a standard 1mL tuberculin syringe and needle. The potential for gross dosing inaccuracy is inherent with such conventional devices, which can compromise the ability of the drug to fully comply with its regulatory labeling requirements. Ocu-ject provides a tenfold improvement in the precision of delivering doses as small as 10 uL, which helps pharmaceutical customers ensure compliance with dose requirements on the drug label.
Mr. Alan Shortall, Chairman and CEO of Unilife said: "In tune with our commitment to address unmet needs within the pharmaceutical industry, we have created a new, significant drug delivery device category. Ocu-ject represents a game-changing delivery technology for ocular therapies, which is a large, fast-growing segment of the pharmaceutical market. We are pleased to have signed our first agreement for the Ocu-ject device platform, which is being pursued by a number of pharmaceutical companies seeking to maximize the clinical and commercial potential of approved and pipeline drugs that are targeted to treat a number of eye disorders. We look forward to serving these customers to address unmet market needs for the accurate, precise delivery of drugs to the eye."