York, Pa.-based Unilife said it inked an exclusive deal with Novartis (NYSE:NVS) for a customized delivery device for 1 of the Swiss pharma giant’s novel investigational compounds "into a targeted organ in clinical trials." Other terms of the deal were not disclosed.
"I am pleased with our success to date in being an effective collaborator with Novartis. This is another example of Unilife addressing the unmet needs of pharmaceutical companies to deliver advanced drugs in their pipelines. I am excited to supply Novartis with a differentiated game-changing device that provides alternative options for drug delivery," CEO Alan Shortall said in prepared remarks.
The news sent UNIS shares up 12.1% to $4.65 apiece as of about 1 p.m. today.
Last month Unilife announced a 15-year, $40 million supply deal with British drug maker Hikma Pharmaceuticals (LON:HIK), hard on the heals of a similar pact for wearable injectors with Medimmune, AstraZeneca’s (NYSE:AZN) biologics arm. In September, Unilife signed a long-term contract to supply its Unifill Finesse anti-thrombotic-filled syringes exclusively to Sanofi (NYSE:SNY), a deal worth a minimum of $5 million and a maximum of $15 million in performance payments.