Bioject Medical Technologies Inc. (Nasdaq: BJCT), a leading developer of needle-free injection therapy (NFIT) systems, and ImmunoVaccine Technologies, Inc. (IVT), a vaccine development company, today announced they have entered into a collaborative Research Agreement to assess utilization of the Biojector® 2000 for the delivery of IVT’s unique vaccine enhancement platform, DepoVaxTM.
This research will test the efficacy of an IVT pandemic influenza vaccine formulation delivered using Bioject’s flagship Bioject B2000 device. The research will compare the onset, magnitude and duration of the anti-influenza response using the Bioject B2000 device against the same responses using standard needle-injection procedures. Should this research collaboration demonstrate positive results with a Pandemic Flu vaccine formulation, the two companies may enter into a joint development and commercialization agreement for the delivery of IVT’s vaccine products using Bioject’s needle-free injection device.
“Needle-free injection therapy systems provide enhancing technologies for vaccines, and we are confident that IVT’s vaccine pre-clinical trial will reaffirm the significant benefits of Bioject’s NFIT systems,” said Dr. Rick Stout, executive vice president and chief medical officer of Bioject. “We have found with other vaccines that our NFIT systems may improve immunogenicity, thereby improving efficacy. We believe that this research collaboration will be mutually beneficial to both companies in the near future.”
“It’s exciting to integrate our world class technologies,” remarked Dr. Marc Mansour, vice president of research and development at IVT. “By delivering our vaccine formulation with Bioject’s needle-free system, we hope to induce immune responses with a single dose even faster than we have before.”
Influenza is a RNA virus that causes respiratory disease in birds and mammals. There are three major influenza groups: A, B, and C (based on antigenicity). Groups A and B are the primary causes of influenza in humans. There are currently three types of effective flu vaccines: whole inactivated virus, split-virion containing fragments of the virus particle, and a nasal vaccine containing virions that are genetic reassortants of a Master Donor Virus (MDV) and a wildtype influenza virus. IVT has demonstrated that its vaccine enhancement platform induces very high immune responses against H5N1 influenza, within 18 days after a single dose. This study will explore the use of Bioject’s B2000 for the delivery of IVT’s pandemic influenza formulations.
About Bioject (WWW.BIOJECT.COM)
Bioject Medical Technologies Inc., based in Portland, Oregon, is an innovative developer and manufacturer of needle-free injection therapy systems (NFITS). NFITS provide an empowering technology and 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.
About IVT (WWW.IMMUNOVACCINE.COM)
ImmunoVaccine Technologies Inc. is a private, clinical-stage, vaccine development company. Through its own biotech research, patented VacciMax® and DepoVax™ technologies, and collaborations with partners, IVT creates vaccines with the potential to help save and improve lives around the world. In January 2008, IVT licensed its technology to Pfizer Animal health, marking a pivotal step in achieving its vision of delivering breakthrough vaccines.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding potential benefits provided by our NFIT product to ImmunoVaccine’s Technologies. 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 to be materially different from any future results, performance or achievements expressed or implied by such forwardlooking statements. Such risks, uncertainties and other factors include, without limitation, uncertainties related to the effect our product will have on this specific vaccine. 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, please contact:
Rick R. Stout, MD
Executive Vice President & CMO
Bioject Medical Technologies Inc.
T 503.692.8001 ext. 4130
ImmunoVaccine Technologies Inc.
Halifax, Nova Scotia, June 5, 2008