Navigation Links
- Unigene Secures Financing to Extend Operating Runway in Conjunction with Strategic Reorganization -
Date:4/8/2013

BOONTON, N.J., April 8, 2013 /PRNewswire/ -- Unigene Laboratories, Inc. (PINK: UGNE), a leader in the design, delivery, manufacture and development of peptide-based therapeutics, today announced that the Company has entered into a second amendment to a financing agreement with affiliates of Victory Park Capital Advisors, LLC (VPC), whereby VPC has agreed to purchase an additional $750,000 senior secured note, providing Unigene with additional working capital. Under the terms of this financing, proceeds from the sale of the note, which is convertible into shares of UGNE common stock at a conversion price of $0.09 per share, will be used for working capital purposes.

In an effort to conserve capital and further extend its cash runway, Unigene also announced a strategic reorganization and downsizing, which involved a reduction of approximately 40% of its workforce. The majority of employees impacted by the reduction in workforce supported Unigene's Fortical® manufacturing and recombinant calcitonin production operations, which have been negatively impacted by regulatory recommendations in Europe and by an advisory committee to the U.S. Food and Drug Administration (FDA).  The company also disclosed that certain of its assets, primarily related to its Fortical® business, are impaired as a result of this regulatory activity and its related impact upon Fortical manufacturing revenues and royalties.  The asset impairment charges will be further discussed within the Company's reported financial results for the first quarter 2013.

Ashleigh Palmer , Unigene's Chief Executive Officer, stated, "We value VPC's ongoing support and willingness to continue financing the company.  Unigene remains focused on our efforts to conserve capital during these adverse conditions and challenging times.  We view the reduction in workforce as an
'/>"/>

SOURCE Unigene Laboratories, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Unigene Comments on FDA Advisory Committee Review of Salmon Calcitonin
2. Unigene to Announce Fourth Quarter and Full-Year 2011 Financial Results on March 8, 2012
3. Unigene Receives 2012 Drug Delivery Partnerships Industry Achievement Award
4. Unigenes 2011 Year in Review - Key Elements in Place to Address Debt in 2012
5. Unigene to Present at the Oppenheimer 22nd Annual Healthcare Conference on December 13, 2011
6. VG Life Sciences, Inc. Secures Two-Year Funding Commitment and Administrative Support from MedBridge, LLC
7. Nabsys Secures $20 Million Series D Financing to Support Launch of Semiconductor-Based Single-Molecule Platform for Genomic Analysis
8. Unisense FertiliTech A/S Secures an Additional 20 Million USD in New Capital Investment
9. Blue Marble Biomaterials Secures Distribution Agreement with SAFC
10. K-V Pharmaceutical Secures Commitment for $85 Million Loan, Reaches Agreement with Senior Noteholders on Principal Terms of Plan of Reorganization
11. Lucas Bagnell Varga LLC Secures $17.4 Million Award For Former Applied Biosystems Executives
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/2/2014)... 2014 Myriant Corporation, a global ... a distribution agreement with Azelis Group, a specialty ... bio-succinic acid in the Nordics, Benelux, France, Iberia, ... in the industrial and base chemicals markets. , ... a far-reaching chemical portfolio with extensive distribution networks ...
(Date:9/2/2014)... 2, 2014  Synthetic Biologics, Inc. (NYSE MKT: ... drug candidates targeting specific pathogens that cause serious ... its final preclinical toxicology study of SYN-004. Per ... bridging study was required to move the Company,s ... the devastating effects of Clostridium difficile (C. ...
(Date:9/2/2014)... Victoria, Australia (PRWEB) September 02, 2014 ... provide a cure for chronic tinnitus are seeking support ... run on the Indiegogo platform ( http://igg.me/at/tinaway ), was ... to be a therapeutic ‘mHealth’ app and is based ... brainchild of a team of biomedical and software engineers, ...
(Date:8/31/2014)... September 01, 2014 Available spectra ... needs for research and cultivation of a wide ... Valoya’s proprietary LEDs with proven patented and pending ... uncompromised light uniformity in critical applications in contrast ... LEDs. , “Our customers have a large variety ...
Breaking Biology Technology:Myriant and Azelis Sign European Distribution Agreement for Bio-Succinic Acid 2Synthetic Biologics to Initiate Clinical Trials of SYN-004 in 4Q 2014 to Prevent Potentially Deadly C. difficile Infections 2Synthetic Biologics to Initiate Clinical Trials of SYN-004 in 4Q 2014 to Prevent Potentially Deadly C. difficile Infections 3Synthetic Biologics to Initiate Clinical Trials of SYN-004 in 4Q 2014 to Prevent Potentially Deadly C. difficile Infections 4Synthetic Biologics to Initiate Clinical Trials of SYN-004 in 4Q 2014 to Prevent Potentially Deadly C. difficile Infections 5tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 2tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 3tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 4tinAway Pty. Ltd. launch a crowdfunding campaign to fund a clinical trial of tinAway, a new potential cure for chronic tinnitus 5
... Goal Is to Lower the Cost of Genome ... Information Universally Available for Routine Medical Care-PHILADELPHIA, Feb. ... whole genome imaging and analysis platforms for biomedical ... that its low-cost nanofluidic genome analysis technology, along ...
... 24 Environment of Care managers can ... achieve and maintain their organization,s environment of care ... series of brief, web-based audio interviews with EC experts ... or download at http://www.eheinc.com/ec_bits.htm feature expert advice ...
... ABBOTT PARK, Ill., Feb. 24 Abbott ( ... Healthcare Conference on Tuesday, March 10, 2009. Thomas ... officer, will make a formal presentation on the company ... the presentation will be accessible through Abbott,s Investor Relations ...
Cached Biology Technology:BioNanomatrix's Revolutionary Whole Genome Analysis Platform Named to MIT Technology Review's Annual 10 Emerging Technologies List 2BioNanomatrix's Revolutionary Whole Genome Analysis Platform Named to MIT Technology Review's Annual 10 Emerging Technologies List 3Web-based Audio Interviews Keep Environment of Care Managers Up-to-Date on Key EC Compliance Issues 2
(Date:9/2/2014)... issue of The FASEB Journal , ... the leading cause of blindness in adults, diabetic ... advance involves quantifying the early molecular changes caused ... Using new probes developed by scientists, they were ... diabetic retinopathy. , "My goal is to establish ...
(Date:9/2/2014)... D.C., September 2, 2014 A study published ... Journal of the American Academy of Child and ... diagnosed with a psychiatric diagnosis had an increased ... to antipsychotics. , Using data from the nationwide ... Dr. Ren Ernst Nielsen, Psychiatry, Aalborg University Hospital, ...
(Date:9/2/2014)... Bavaria, the Tithonian Konservat-Lagersttte of lithographic limestone is ... of emblematic fossils from that area (for example, ... found fossil insects in the French equivalent of ... species representing the oldest known water treader. , ... Bavarian outcrops, fewer fossils have been obtained from ...
Breaking Biology News(10 mins):Molecular probes permit doctors to detect diabetic retinopathy before vision fails 2Risk of diabetes in children and adolescents exposed to antipsychotics 2Exceptionally well preserved insect fossils from the Rhône Valley 2
... perennially covered in ice. It is exposed to severe ... and, during the winter, 24-hour darkness. But, for the ... To study them, Dr. Rachel Morgan-Kiss from the University ... to sample the ice-covered lake. The article describing her ...
... the most valuable possessions in the most secure safes, ... at the European Molecular Biology Laboratory,s European Bioinformatics Institute ... Nature , shows that bacteria have evolved a ... reducing the risk of self-destruction. The findings answer a ...
... of Gothenburg, Sweden, have identified the genetic variations ... in Nature Genetics and involving leading researchers ... facts that women with a higher proportion of genetic ... percent increased fracture risk. Osteoporosis is a common ...
Cached Biology News:Research on carbon-consuming life-forms in Antarctica published in JoVE 2A matter of priorities 2Scientists have discovered genes that increase the risk of osteoporosis and fractures 2
Extra Large bottle for hybridization 300 x 70mm...
Request Info...
... Microtube Rotor is TWO ROTORS in ONE! ... You can spin both 1.5 - ... polypropylene rotor design provides excellent chemical resistance ... rotors are fully compatible with common decontamination ...
... Wellpro 384, compatible ... automated liquid handling system ... quickly and accurately prepares ... dilutions. The Wellpro ...
Biology Products: