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Unilife and Amgen Enter Strategic Collaboration for Injectable Drug Delivery Systems
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Under the strategic collaboration, Unilife can receive up to $75 million. At closing, Amgen paid a nonrefundable $20 million license fee and purchased a $30 million senior secured convertible note from Unilife. Amgen may purchase up to an additional $25 million in senior secured convertible notes over the next two years ($15 million in January 2017 and $10 million in January 2018). These payments are in addition to Amgen's $15 million payment to Unilife in connection with the exclusivity letter entered into on December 31, 2015.In addition to these payments, Unilife expects to generate future revenue from the strategic collaboration with Amgen. The collaboration includes a master development and supply agreement that captures key terms for the development, production and supply of Unilife delivery systems. Development programs will commence in 2016.
Slingshot Insights Explained
Strategic Initiative Date
Announcement Date: Feb 22, 2016 Projected Implementation: Q1, 2016 Relevance Tracked Until: Q4, 2016
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Related Keywords Strategic Collaboration, Injectable Drug Delivery System, Licensing, Investment, Development, Supply Agreement Components