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:7/24/2014)... , July 24, 2014  Spherix Incorporated (SPEX) -- ... and monetization of intellectual property, today announced that the ... ending June 30, 2014 on Monday, August 18, 2014 ... 10 a.m. ET on Monday, August 18, 2014 to ... by the company,s CEO, Anthony Hayes . ...
(Date:7/24/2014)... (PRWEB) July 24, 2014 As part ... numerous projects in the MENA region during 2014 with ... a preferred provider agreement with DZS to manage our ... region,” said Global VP of R&D and President of ... developed excellent operational practices with a focus on utilizing ...
(Date:7/23/2014)... Lyfebulb, the International Pemphigus Pemphigoid Foundation ... OMX First North Premier, Stockholm ... collaboration to increase awareness of unmet needs in ... attended by more than sixty patients, physicians, scientists ... and wellness company dedicated to serving the needs ...
(Date:7/23/2014)... Inc. (NASDAQ: SGMO ) today reported its ... For the second quarter ended June 30, 2014, ... or $0.10 per share, compared to a net loss ... same period in 2013. As of June 30, 2014, ... interest receivable of $236.7 million. Revenues for ...
Breaking Biology Technology:Spherix Schedules Shareholder Update Call 2SBI Pharmaceuticals Co. Ltd. Enters into Preferred Provider Agreement with DZS Clinical Services 2Innovative Collaboration To Increase Awareness Of Bullous Pemphigoid, A Rare Autoimmune Disease Of The Skin 2Innovative Collaboration To Increase Awareness Of Bullous Pemphigoid, A Rare Autoimmune Disease Of The Skin 3Innovative Collaboration To Increase Awareness Of Bullous Pemphigoid, A Rare Autoimmune Disease Of The Skin 4Innovative Collaboration To Increase Awareness Of Bullous Pemphigoid, A Rare Autoimmune Disease Of The Skin 5Sangamo BioSciences Reports Second Quarter 2014 Financial Results 2Sangamo BioSciences Reports Second Quarter 2014 Financial Results 3Sangamo BioSciences Reports Second Quarter 2014 Financial Results 4Sangamo BioSciences Reports Second Quarter 2014 Financial Results 5Sangamo BioSciences Reports Second Quarter 2014 Financial Results 6Sangamo BioSciences Reports Second Quarter 2014 Financial Results 7Sangamo BioSciences Reports Second Quarter 2014 Financial Results 8Sangamo BioSciences Reports Second Quarter 2014 Financial Results 9
... Microsoft chairman and chief software architect Bill Gates talked ... industry when he stopped in their classroom during his ... included in the tour, which is promoting greater youth ... Communications. Photo by Jeff Miller , ...
... Wis. - These are not your parents' generation ... "cool" was rarely heard to cross the lips of ... commodity. The problem is that Wisconsin doesn't yet have ... dozen representatives of business, civic, academic and arts groups ...
... Madison, Wis. - The 53 Wisconsin companies that ... Business Innovation Research (SBIR) and Small Business Technology Transfer ... recognized at an upcoming banquet in Madison. , ,The ... technology transfer workshop. The workshop will focus on SBIR/STTR ...
Cached Biology Technology:Gates displays software's future to UW-Madison students 2Gates displays software's future to UW-Madison students 3Gates displays software's future to UW-Madison students 4Tech leaders call for more creativity 2
(Date:7/24/2014)... ply silent freeways, solar panels blanket rooftops and power ... howling winds and from the blazing desert sun. , ... and economically feasible to convert California,s all-purpose energy infrastructure ... Energy , the plan shows the way to ... that could create tens of thousands of jobs and ...
(Date:7/24/2014)... at Albert Einstein College of Medicine of ... J. Fox Foundation for Parkinson,s Research to translate a ... This drug discovery project will test chemical compounds on ... a drug that acts on an underlying cause of ... help many people manage their symptoms, we are eager ...
(Date:7/24/2014)... hazard in the United States, wildland managers often utilize ... suppressed trees (ladder fuels). These cuttings and other ... fire danger in order to dispose of the material. ... managers often cover all or part of the debris ... agricultural plastic, in order to keep water out. A ...
Breaking Biology News(10 mins):Stanford study shows how to power California with wind, water and sun 2Stanford study shows how to power California with wind, water and sun 3Stanford study shows how to power California with wind, water and sun 4Albert Einstein College of Medicine receives grant from the Michael J. Fox Foundation to fund drug discovery project targeting Parkinson's 2Albert Einstein College of Medicine receives grant from the Michael J. Fox Foundation to fund drug discovery project targeting Parkinson's 3Study gives new perspective on agricultural plastic, debris burning, and air quality 2
... the National Consortium for Data Science (NCDS) aims to ... and data science research, a move that will help ... the data-driven global economy. The consortium, ... University of North Carolina at Chapel Hill, unites data ...
... reveals that age matters when it comes to adapting to ... insight and understanding of the likely impact of predicted environmental ... the journal Global Change Biology scientists from British ... the Alfred Wegener Institute reveal that when it comes to ...
... An international team of researchers has decoded the genome ... and illuminating: the African coelacanth. A sea-cave dwelling, five-foot ... thought to be extinct. A living coelacanth was discovered ... questions about these ancient-looking fish popularly known as ...
Cached Biology News:National consortium to lead North Carolina in big data innovation 2National consortium to lead North Carolina in big data innovation 3Age matters to Antarctic clams 2Coelacanth genome surfaces 2Coelacanth genome surfaces 3Coelacanth genome surfaces 4
Presenilin 2 Immunogen: Synthetic peptide corresponding to residues 31-47 of human Presenilin 2. Storage: -20 C, Avoid Freeze/Thaw Cycles...
Monoclonal Anti-Gα o purified immunoglobulin buffered aqueous solution Solution in phosphate buffered saline pH 7.4, containing 0.08% sodium azide. partially purified bovine brain Gα O ...
Potassium Channel kv3.2...
... 2, Neuronal (GLYT2). The antiserum has been ... nervous system. The staining pattern obtained with ... in situ hybridization with probes to GLYT2 ... for glycinergic neurons. Preabsorption of the antiserum ...
Biology Products: