BEDMINSTER, N.J., Jan. 9 /PRNewswire-FirstCall/ -- Bioject Medical
Technologies Inc. (Nasdaq: BJCT), a leading developer of needle-free drug
delivery systems, announced that it has entered into three project agreements
with Merial Ltd. ("Merial"), a world leading animal health company. As part
of these agreements, Bioject will perform feasibility analyses for a next
generation Vetjet(TM) device for the companion animal market, as well as
devices for production animal and poultry markets.
Bioject and Merial, a joint venture between Merck & Co. and
sanofi-aventis, currently have collaborations for Bioject's Vetjet(TM)
product, which was commercialized in 2004, and its production animal product,
which is expected to be commercialized in late 2006. Bob Nordgren, Head of
Research, Technology Acquisition and North American Biological Development at
Merial commented, "We are pleased to be working with Bioject to expand the
scope of needle-free technology across our pipeline of veterinary vaccines.
We feel that this collaboration will further enhance our leadership position
in the animal health market."
"We are excited and pleased to extend our relationship with Merial for
existing and potential new products across the animal health market," said Jim
O'Shea, Chairman, President and CEO of Bioject. "One of Bioject's key
strategic goals is to expand our existing corporate relationships and these
agreements represent important milestones in achieving this objective."
Each agreement includes the payment of an upfront fee to Bioject, as well
as additional payments dependent upon the achievement of specific milestones.
About Bioject
Bioject Medical Technologies Inc., based in Bedminster, New Jersey, with
operations in Portland, Oregon, is an innovative developer and manufacturer of
needle-free drug delivery systems. Needle-free injection works by forcing
medication at high speed through a tiny orifice held against the skin. This
creates a fine stream of high-pressure fluid penetrating the skin and
depositing medication in the tissue beneath. The Company is focused on the
development of mutually beneficial agreements with leading pharmaceutical,
biotechnology and veterinary companies.
About Merial
Merial is a world-leading, innovation-driven animal health company,
providing a comprehensive range of products to enhance the health, well-being
and performance of a wide range of animals. Merial employs approximately
5,000 people and operates in more than 150 countries worldwide. Its 2004
sales were in excess of $1.8 billion. Merial Limited is a joint venture
between Merck & Co., Inc. and sanofi-aventis. For more information, visit
http://www.merial.com.
This press release contains a forward-looking statement within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements
regarding the timing of commercialization of the production animal product.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or
achievements of the Company, or industry results, to be materially different
from any future results, performance, or achievements expressed or implied by
such forward-looking statements. Such risks, uncertainties and other factors
include, without limitation, the risk that the products will not be accepted
by the market; uncertainties related to the time required for the Company to
complete research and development and obtain necessary clinical data and
government clearances; the risk that the Company may be unable to produce its
products at a unit cost necessary for the products to be competitive in the
market; and the risk that the Company may be unable to comply with the
extensive government regulations applicable to its business. Readers of this
press release are referred to the Company's filings with the Securities and
Exchange Commission, including the Company's reports on Form 10-K and Forms
10-Q for further discussions of factors that could affect the Company's
business and its future results. Forward-looking statements are based on the
estimates and opinions of management on the date the statements are made. The
Company assumes no obligation to update forward-looking statements if
conditions or management's estimates or opinions should change.
For more information about Bioject, visit http://www.bioject.com
SOURCE Bioject Medical Technologies Inc.
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Related links:
http://www.bioject.com
CONTACT:
John Gandolfo, Chief Financial Officer of
Bioject Medical Technologies Inc., +1-908-470-2800, ext. 5102, or
jgandolfo@bioject.com; or John Baldissera of BPC Financial
Marketing, 1-800-368-1217, for Bioject Medical Technologies Inc.
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