NEW YORK (TheStreet) -- Shares of Unilife (UNIS) continue to rise, now up 22.52% to $3.21, on momentum from Monday's announcement that the company had signed a 15-year commercial supply agreement with Sanofi (SNY) - Get Report .
Unilife will become the exclusive provider of wearable injectors for all of Sanofi's large dose volume drugs, except for insulins, for a minimum of 15 years. Under the terms of the agreement, Sanofi may also offer Unlifie's wearable injectors to its partners through joint collaborations.
Sanofi also gains non-exclusive access to Unilife's injector technology. Unilife may elect to enter into supply agreements with other companies if it maintains Sanofi's non-exclusive access.
The two companies will "collaborate in the development of other new technologies that address additional unmet or emerging needs for the delivery of large dose volume biologics," Unilife said.
More than 7.8 million shares had changed hands as of 3:22 p.m., compared to the average volume of 768,175.