Bioject Medical Technologies reported this morning that it received milestone payments during its fourth quarter from Merial.
The payments are part of a collaboration agreement that allows Merial to use a modified version of Bioject’s Vitajet needle-free delivery system for the companion animal market, Bioject reports.
One payment was based on regulatory approval of a vaccine developed by Merial and designed to be administered with the needle-free system. Bioject also received a second milestone payment during the quarter following the delivery of 10 prototype devices to Merial.
"We are looking forward to the commercial launch of the product for the companion animal market during the first quarter of 2005," said Jim O’Shea, chairman and chief executive officer of Bioject.
