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Medical Industry Financings: Unilife Raises AUD23.1 Million

December 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Unilife Corp. (UNIS – NASDAQ) said that it has completed a AUD23.1 million private placement. In the financing, Unilife issued 27,228,143 CHESS Depositary Interests at an issue price of AUD0.85 (each CDI representing an interest in one sixth of a share of the company's common stock) with free attaching unlisted options (placement options) to investors in Australia.

The company said it plans to use the net proceeds from the placement and SPP for the purchase of additional capital equipment, for general operations including the development of other pipeline products and supporting the 2011 transition of Unilife into a commercial manufacturer and supplier of its proprietary medical devices to pharmaceutical and healthcare companies.

Pennsylvania-based Unilife is a medical device company focused on the design, development, manufacture and supply of a range of retractable syringes.

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