Unilife COO to Again Purchase More Than $250,000 in Company Shares

YORK, Pa., Aug. 31, 2011 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today announced that its Chief Operating Officer, Dr. Ramin Mojdeh, will purchase more than $250,000 in shares of the Company's common stock. This investment closely follows Dr. Mojdeh's initial open market purchase of more than $250,000 in Unilife shares in March 2011, six weeks after he joined the Company.

Dr. Mojdeh will begin making the purchase at market prices after the issuance of this release in the U.S.  This intended purchase by Dr. Mojdeh, of more than $250,000 in Unilife common stock is occurring as per the Company's insider trading policy and will be effected in compliance with applicable U.S. and Australian securities laws.

The upcoming purchase by Dr. Mojdeh follows similar activity recently undertaken by Unilife CEO Alan Shortall, as reported on August 17, 2011.  

Dr. Mojdeh stated: "Since joining Unilife nearly seven months ago, my confidence in the Company's future continues to grow. Under Mr. Shortall's guidance and keen leadership, we have been able to accomplish several important milestones including the industrialization and first sales of the Unifill syringe. Through our unparalleled capacity to identify and respond to the unmet needs of our pharmaceutical partners with speed, agility and reliability, we have developed an innovative and highly differentiated portfolio of advanced drug delivery systems.

"Unilife is very well positioned to capitalize on a paradigm shift that is now occurring within the fast-growing $10 Billion market for injectable drug delivery devices. The molecular complexity and patient-centric focus of the biologics now dominating the development pipelines of many pharmaceutical companies requires innovative device solutions that are customized to address the specific needs of each target drug. We now have the diversified portfolio, deep industry expertise and advanced operational capabilities and entrepreneurial structure to serve as a preferred partner to pharmaceutical companies seeking device innovation," concluded Dr. Mojdeh.

About Unilife Corporation

Unilife Corporation (NASDAQ: UNIS / ASX: UNS) is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in Pennsylvania. Established in 2002, Unilife works with pharmaceutical and biotechnology companies seeking innovative devices for use with their parenteral drugs and vaccines. Unilife has developed a broad, differentiated proprietary portfolio of its own injectable drug delivery products, including the Unifill^® and Unitract^® product lines of safety syringes with automatic, operator controlled needle retraction. Unifill represents the world's first prefilled syringe technology integrating safety within the primary drug container. The products are ideally positioned to help pharmaceutical companies maximize the lifecycle of their injectable drugs and enhance patient care. Unifill syringes, together with other devices that are part of the Unilife technology platform, can either be supplied to pharmaceutical customers ready for use, or customized to address the specific requirements of targeted novel drugs.  For more information on Unilife, please visit www.unilife.com. 

Forward-Looking Statements

This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and elsewhere in our Annual Report on Form 10-K and those described from time to time in other reports which we file with the Securities and Exchange Commission. 

General: UNIS-G

SOURCE Unilife Corporation

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