Unilife COO Makes Open Market Purchase of Approximately $250,000 in Company's Publicly Traded Shares

Mar 21, 2011, 08:05 ET from Unilife Corporation

YORK, Pa., March 21, 2011 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (Nasdaq: UNIS; ASX: UNS) today announced that its Chief Operating Officer and Executive Vice President, Dr. Ramin Mojdeh, has made an open market purchase of Company shares.

Dr. Mojdeh purchased a total of 54,000 shares of Unilife's common stock at an average price of $4.61 per share, with an approximate value of $248,652. This open market purchase by Dr. Mojdeh follows similar activity undertaken by Unilife CEO Alan Shortall, as reported on March 16, 2011.

Dr. Mojdeh stated, "Since joining Unilife just six weeks ago, I have grown increasingly impressed by the Company's proprietary technologies, operational capabilities and commercial position.  With initial production of the Unifill syringe about to commence, we are now entering an important period of business development.  As we remain on schedule to fill our initial orders for the Unifill syringe starting in June 2011, and are continuing to accelerate discussions with a number of interested pharmaceutical companies, I have decided to make an open market purchase of Unilife shares at this time."

Dr. Mojdeh has more than 25 years of business leadership experience across multiple industries, including 18 years in the design, development, manufacturing, sales and marketing of therapeutic and diagnostic medical devices for several multinational companies including Becton Dickinson (BD), GE Healthcare and Guidant. Prior to joining Unilife in February 2011, he served as Vice President and General Manager of BD Pharmaceutical Systems, North America between 2008 and 2010 and Worldwide Vice President of Research and Development, BD Medical between 2002 and 2008.

About Unilife Corporation

Unilife Corporation is a U.S.-based medical device company focused on the design, development, manufacture and supply of a proprietary range of retractable syringes. Primary target customers for Unilife products include pharmaceutical manufacturers, suppliers of medical equipment to healthcare facilities and patients who self-administer prescription medication. These patent-protected syringes incorporate automatic, operator-controlled needle retraction features which are fully integrated within the barrel, and are designed to protect those at risk of needlestick injuries and unsafe injection practices. Unilife is ISO 13485-certified and has FDA-registered medical device manufacturing facilities in Pennsylvania.

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. 

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