BEDMINSTER, N.J., July 19 /PRNewswire-FirstCall/ -- Bioject Medical
Technologies Inc. (Nasdaq: BJCT), a leading developer of needle-free drug
delivery systems, announced today that it has signed a collaboration agreement
with PATH, an international nonprofit organization whose mission is to improve
the health of people around the world by advancing technologies, strengthening
systems, and encouraging healthy behaviors.
Under terms of the agreement, Bioject will design and develop a needle-
free, single-dose cartridge immunization system that will be evaluated by PATH
using a combination of performance based bench testing and user focus groups
in the developing world. This testing and evaluation will be conducted in
order to demonstrate the potential benefit of this technology for the
developing world.
"PATH has received support from private foundations for needle-free jet
injection devices to be re-introduced into the developing world for
immunization," said Jim O'Shea, Chairman, President and CEO of Bioject. "We
are pleased that PATH has selected Bioject as a collaborator for this project,
and we are looking forward to supporting this public health organization."
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 that penetrates the skin and
deposits vaccine in the tissue beneath. Bioject is focused on developing
mutually beneficial agreements with leading pharmaceutical, biotechnology, and
veterinary companies. For more information about Bioject, visit
http://www.bioject.com.
About PATH
PATH is an international, nonprofit organization that creates sustainable,
culturally relevant solutions, enabling communities worldwide to break
longstanding cycles of poor health. By collaborating with diverse public- and
private-sector partners, PATH helps provide appropriate health technologies
and vital strategies that change the way people think and act. PATH's work
improves global health and wellbeing.
Headquartered in Seattle, Washington, PATH has 19 offices in 13 countries.
PATH currently works in more than 100 countries in the areas of reproductive
health; vaccines and immunization; HIV/AIDS and tuberculosis; and children's
health and nutrition.
For more information about PATH, please visit http://www.path.org.
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. 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, obtain necessary clinical data and government
clearances, the risk that the Company may be unable to produce our 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 Bioject's 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.
SOURCE Bioject Medical Technologies Inc.
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Related links:
http://www.bioject.com
CONTACT:
Cecelia C. Heer, Director, Investor
Relations, of Bioject Medical Technologies Inc., +1-908-470-2800,
ext. 5103, or cheer@bioject.com
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