Bioject and Alkermes sign license agreement

Published: 21-Nov-2001


US companies Bioject Medical Technologies, a developer of needle-free drug delivery systems, and Alkermes, a developer of pharmaceutical products based on advanced drug delivery systems, have signed a licensing and development agreement. The companies will develop up to three undisclosed drug compounds as proprietary products for Alkermes using Bioject's Iject and possibly other Bioject delivery systems.

Financial terms include monthly payments to Bioject to be realised over time for product development and additional payments upon reaching certain development and regulatory milestones.

Alkermes has several areas of focus, including controlled, sustained release of injectable drugs lasting several days to several weeks, using its ProLease and Medisorb technologies; and the development of pharmaceutical products based on proprietary pulmonary drug delivery technologies utilising its AIR technology.

'We are enthusiastic about this partnership ,' said Jim O'Shea, Bioject chairman, president and ceo. 'The opportunity to combine our technology with drugs offered by Alkermes is compelling.'

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