Under this amendment to the agreement, Unilife will supply Novartis with additional batches of its customized delivery device to enable administration of a novel investigational Novartis drug into a targeted organ during an ongoing clinical drug trial. Unilife has granted Novartis an option for exclusivity under this agreement.
Under the current stage of this agreement, Unilife will generate revenue on the basis of the clinical product supplies. Both parties anticipate the collaboration will continue to support the clinical development and anticipated approval of this novel therapy, which is targeting a high prevalence disease where no pharmacological treatments are currently available.
Rick Beckman, M.D., Senior Vice President, Chief Medical Officer and General Manager of Ocular and Novel Delivery Systems, said: "Our collaboration with Novartis for the supply of a customized delivery device to support the clinical trial of this novel therapy continues to progress favorably. We look forward to supporting Novartis in the advancement of this therapy, which requires a high-precision delivery system to enable its accurate administration to the target organ of the human body."
For commercial purposes and due to confidentiality clauses in the agreement, additional terms of the agreement, are to remain confidential at this time.
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