The collaboration between Amgen and Unilife is apparently now official. Amgenannounced that for a lifeline worth up to $75 million, it has exclusive rights to a select group of Unilife’s wearable injectors. For some of the other therapeutic areas of oncology, inflammation, bone health, nephrology, cardiovascular and neuroscience, Amgen currently has nonexclusive rights.
How it breaks down: Unilife receives a $20 million license fee, and $30 million in the form of the sale of a senior secured convertible note to Amgen. The company may purchase additional notes worth up to $25 million by January 2018.
Following the deal, Unilife’s share price has increased 15 percent, so it looks like this was a smart move. The company is reportedly planning on the alliance with Amgen being useful in further development of its many devices.
UNS Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
