BEDMINSTER, N.J., Nov. 29 /PRNewswire-FirstCall/ -- Bioject Medical
Technologies Inc. (Nasdaq: BJCT), a leading developer of needle-free drug
delivery systems, announced today that it has signed a long-term collaboration
agreement with PATH for the development of a single-use, needle-free,
disposable cartridge jet injection system for global immunizations.
Under terms of the PATH agreement, Bioject will develop a needle-free,
auto-disable, single dose cartridge injection system for use in immunization
programs in the developing world. The agreement is divided into three stages
covering activities from technical feasibility, country-level market
assessments, fundraising, international public health clinical trials,
scale-up for high-volume manufacturing, to full market implementation.
Well over one billion vaccine doses are delivered worldwide by hypodermic
injection every year. This number is expected to grow considerably in the next
10 years due to increase in immunization coverage of target populations and
addition of new vaccines to World Health Organization's immunization program.
The incidence of needlestick injuries, particularly in developing countries,
is also anticipated to increase significantly if a safer injection alternative
is not implemented.
Extensive focus groups were conducted in collaboration with PATH to
determine the need of developing-country immunization programs. Many clinics
in developing countries gave their input as to their specific needs and best
ways to use such needle-free technology, leading Bioject to design this new
injection system. This new product will be able to meet the immunization
challenges posed domestically and in the developing world as it utilizes
injection cartridges that are: a) easy to fill, b) needle-free, c)
single-use, d) autodisabled, e) fully disposable and f) low cost. The system
consists of a durable, small, handheld injector with disposable cartridges
that administer safe and reproducible injections, which requires no external
power supply.
"The opportunity to change the way that vaccines are delivered,
eliminating needles, improving vaccine effectiveness, reducing the cost of
vaccination, and expanding the world's vaccine production capacity with a
single technology, is extraordinary," said Michael Free, Vice President and
Senior Advisor for Technology at PATH. "We are pleased to partner with
Bioject, a front runner in the development of new-generation jet injectors, to
advance this technology for global health applications."
"We are excited with this collaboration and we are looking forward to
supporting the public health sector," said Jim O'Shea, Chairman, President,
and CEO of Bioject. "Ultimately, we hope this development program will not
only include PATH, but other global health organizations who have also
expressed interest in providing assistance and funding to deliver needle-free
immunizations in the developing world. We expect that in the near future, the
product being developed under this agreement will also be used to deliver
lower doses of vaccine intradermally, enhancing the availability of vaccines
such as influenza. A clinical trial has been scheduled for early 2006 to test
this dose-sparing concept with flu vaccine," said Jim O'Shea.
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 well being.
Headquartered in Seattle, Washington, PATH has 19 offices in 14 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, 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:
John Gandolfo, Chief Financial Officer of
Bioject Medical Technologies Inc., +1-908-470-2800, ext. 5102, or
jgandolfo@bioject.com; or John Baldissera, BPC Financial
Marketing, 800-368-1217
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