Unilife scores with sanofi-aventis
Tuesday, 01 July, 2008
Unilife Medical Solutions [ASX: UNI] has reached an agreement worth over $16 million with sanofi-aventis over licensing rights for Unilife's ready-to-fill syringe [RTFS].
In exchange for the $16.4 million license fee, sanofi-aventis will have exclusive rights to the product for a period of five years.
It is expected that a further agreement will be reached whereby sanofi-aventis will pay the industrialisation costs for the RTFS, which are estimated to total $24-27 million.
Unilife began pilot production of the RTFS units earlier this year, and full commercialisation of the product is expected to begin in 2011.
The RTFS is a pre-filled safety syringe with automatic, user-controlled needle retraction features to help prevent needlestick injuries.
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