Bioject Medical Technologies Inc. Announces Long-Term Agreement with Merial

PORTLAND, Ore.--(BUSINESS WIRE)--Bioject Medical Technologies Inc. (Nasdaq:BJCT) (“Bioject”), a leading developer of needle-free injection therapy (NFIT) systems, today announced that it has signed a new long-term exclusive license, development and supply agreement with Merial Limited (“Merial”), a world leading animal health company, for a next generation companion animal device which allows for the delivery of injectables. This new device will allow Merial to deliver certain of their companion animal vaccines with a single device. Details of the financial agreement with Bioject were not disclosed, but terms of the agreement include an upfront license payment, development milestone payments, a provision for capital equipment and a long-term supply agreement extending up to ten (10) years.