Inovio Pharmaceuticals said today it paid $5.5 million for the assets of Bioject Medical Technologies including its needle-free jet injection tech, devices and intellectual property
With the acquisition, Inovio said it will advance an integrated non-invasive delivery device combining the acquired jet injection tech with its own needle-free skin-surface electroporation tech.
Inovio said it’s goal is to facilitate immunization using using its DNA vaccines with the needle-free devices.
“Our current DNA delivery method is highly effective and already gets the job done. However, to fully realize the opportunity of mass immunization against challenging infectious diseases we believed we could create an additional advantage: that is non-invasive vaccine administration. Similar to our past acquisitions of Advisys and Inovio AS, this purchase of Bioject’s superior jet injection technology and well-positioned patents is an investment in Inovio’s future. Jet injection alone cannot achieve the utility of DNA vaccines. However, combined with our new needle-free skin-surface electroporation delivery technology we believe we can offer a compelling solution to protect against RSV, ever-changing influenza strains, and emerging infectious diseases like Zika,” CEO Dr. J. Kim said in a press release.
Inovio said it will pay Bioject $4.5 million in Inovio stock and $1 million in cash for the purchase.