client_transactions

SSG Client Transactions

Title

Unilife Corporation
Client Profile

Client Profile

Unilife Corporation (Nasdaq:UNIS) (“Unilife” or the “Company”) designs, manufacturers and supplies innovative injectable drug delivery systems for multi-national customers with large molecule drugs. The Company's devices can enhance and differentiate the injectable therapies of its pharmaceutical and biotechnology customers through their innovative features and design functionality to optimize the safe, simple and convenient administration of injectable therapies.
Situation

Situation

In 2016, Unilife began focusing exclusively on active and new customer programs in its portfolio of wearable injector systems. The strategic shift was predicated on the number of new generation, large molecule drugs being actively developed by numerous large pharmaceutical and biotechnology companies around the world. The Company deployed significant capital on research and development to create customized devices for its customers. However, as a result of the devices not yet being commercially available, revenue was limited causing tightened liquidity. Unilife then implemented significant cost reduction initiatives to decrease additional cash burn necessary to reach commercialization. SSG was retained in August 2016 to attempt to raise capital and to restructure the Company's balance sheet. As that process played out, it became apparent that a restructuring was not feasible.
Solution

Solution

As a result, Unilife filed for Chapter 11 protection in the District of Delaware in April 2017. SSG expeditiously conducted a comprehensive marketing process, which resulted in a broad range of interest primarily from strategic parties. Credit bids from OrbiMed Advisors LLC and Amgen Inc. (Nasdaq:AMGN) on different subsets of collateral were ultimately determined to be the highest and best offers for substantially all of the Company's assets.
July 2017
has sold substantially
all of its assets to
Under Section 363 of the U.S. Bankruptcy
Code in the U.S. Bankruptcy Court for the
District of Delaware
The undersigned acted as Investment Banker to
Unilife Corporation on this transaction

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

Contact by E-mail »

New York
(212) 786-7432

Contact by E-mail »