PORTLAND, Ore., Oct. 20 /PRNewswire-FirstCall/ -- Bioject Medical
Technologies Inc. (Nasdaq: BJCT) announced today that Mr. Jim O'Shea will
be retiring as President and CEO, as well as a director, as of December 31,
2006. Effective today, Mr. O'Shea has resigned as Chairman and Mr. Jerald
S. Cobbs, Bioject's Lead Director and Chair of the Nominating Committee,
has been elected Chairman.
"I have considered it a privilege to work at Bioject since 1995, and to
lead the company as we became the leader in our industry. Due to the hard
work and expertise of all of our employees I believe Bioject is well
positioned to face the future," said Jim O'Shea, President and CEO. "The
Company has six FDA cleared products, a vast intellectual property
portfolio, and an impressive product development pipeline and we have made
significant inroads into the personal injection market, the animal health
market and vaccine delivery. I look forward to working with our Board of
Directors during this transition."
The Board of Directors has formed a search committee that will be
headed by Mr. Cobbs, a Managing Director of Life Science Opportunities
Fund, which is an affiliate of Sanders Morris Harris Group Inc. and
Bioject's largest investor. Mr. O'Shea will be available on a consulting
basis beyond December 31, 2006, to assist the Company in transitional and
related issues.
About Bioject
Bioject Medical Technologies Inc., based 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 developing mutually beneficial
agreements with leading pharmaceutical, biotechnology, and veterinary
companies.
For more information about Bioject, visit http://www.bioject.com.
SOURCE Bioject
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Related links:
http://www.bioject.com
CONTACT:
Jim O'Shea, Chief Executive Officer, ext.
4161, or Chris Farrell, Vice President of Finance, ext. 4132,
both of Bioject Medical Technologies Inc., +1-503-692-8001
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