FAIRFIELD, N.J.--(BUSINESS WIRE)--March 17, 2006--Unigene Laboratories, Inc. (OTCBB: UGNE) announced that it has agreed with an institutional investor to enter into a private placement with proceeds to Unigene of approximately $13 million. At the closing of the transactions, which the parties anticipate will occur on March 17, 2006, the investor is to receive 4 million shares of common stock at $3.25 per share and warrants to purchase 1 million shares of common stock at $4.25 per share which are exercisable for 5 years from the closing.
