Unilife Corp. has announced it has secured $60 million in debt financing.
Unilife, headquartered in York, Pa., is a developer and supplier of injectable drug delivery systems.
The financing will come from an affiliate of OrbiMed, a New York City-based healthcare investment firm with approximately $10 billion in assets under management.
Unilife received $40 million of the financing at the closing of the deal, with two additional tranches of $10 million to be provided to Unilife in December 2014 and June 2015 as long as Unilife remains in compliance with the terms of the agreement with OrbiMed.