Bioject Medical develops and markets needle-free injection technology used to administer injectable medications.
Bioject’s technology works by forcing liquid medication at high speed through a tiny orifice (smaller than a human hair) held against the skin. This creates an ultra-fine stream of fluid that penetrates the skin in a fraction of a second. Several studies have indicated that patient prefer for Bioject System over a traditional injection.
Bioject has developed a portfolio of injection systems that leverage their core technology. These include devices designed for heavy use in a professional healthcare environment, as well as small, lightweight injectors designed for home use. With partners, Bioject is developing an inexpensive, pre-filled, disposable injection system.
Bioject is able to deliver medications and vaccines to the subcutaneous and intramuscular depths. The Biojector 2000, designed for use in professional healthcare settings, can deliver over 100,000 injections.
Expansion through strategic partnerships
Bioject is exploring the ways in which needle-free injection can increase the efficacy of certain medications, particularly DNA-based vaccines and immunotherapeutics. Early-stage clinical testing has shown a significant improvement of some of these products when delivered with Bioject’s needle-free systems.
Status
In November and December 2007, Bioject entered into a convertible note financing agreements with Mr. Edward Flynn, a board member and executive officers of the company and with Signet Healthcare Partners for a total $1.215 million in convertible debt, of which $615,000 was converted into Series F Preferred Stock in January 2008. On March 18, 2008, the Company announced a new two pronged strategy: (i) Strategically focus on the most promising potential partnership opportunities with both current & new partners and (ii) Secure their own therapeutic offerings by creating drug+device combinations for their own account.