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SOURCE Bioject Medical Technologies Inc.
Agreement advances Bioject's global market expansion strategy through Fondaco's established medical device marketing and distribution networks in countries including Singapore, Malaysia and Indonesia
TIGARD, Ore., Oct. 23, 2013 /PRNewswire/ -- Bioject Medical Technologies Inc. (OTC Pink: BJCT), a leading developer and manufacturer of needle-free injection technology, today announced that it has entered into a distribution agreement with Fondaco PTE, LTD, a premier medical supplies company based in Singapore. Under the terms of this agreement, Fondaco will be the exclusive distributor of Bioject's commercial needle-free injection products in Singapore, Indonesia, and Malaysia.
Products positioned for distribution through this agreement include the full portfolio of Bioject technologies including the Biojector® 2000 needle-free injection system and theBioject® ZetaJet™ portable injector. In September 2013, Bioject also announced an international distribution agreement with iHealthnet LLC for distribution of Bioject products in markets including South Asia, India and the Middle East.
"We have seen significant demand for advanced needle-free technologies in global markets including Asia in recent years. Through collaboration with established industry leaders such as Fondaco, we will be ideally positioned to expand our product marketing focus in this region in the years ahead. Together we have the full range of expertise and insight to bring the significant advantages of needle-free drug delivery to millions more patients in the years ahead," said Mark Logomasini, President and CEO of Bioject.
The global injectable drug delivery technologies market was valued at $22.5 billion in 2012, and is expected to reach $43.3 billion by 2017. Recent reports indicate that the market for injectable technologies is positioned to grow rapidly in Asia in the coming decade, based in part on expanding access to healthcare services and the growing number of patients in emerging markets affected by diabetes and other diseases that involve treatment with injectable drugs.
Bioject's advanced needle-free technology works by forcing liquid medication at high speed through a tiny orifice held against the skin. The diameter of the orifice is smaller than the diameter of a human hair. This creates an ultra-fine stream of medicine able to penetrate skin without use of a needle. Bioject's technology is available for use with a wide range of injectable drugs and has the ability to deliver medicine at a range of depths and injection volumes. For instance, the Biojector 2000 can deliver intramuscular or subcutaneous injections up to 1 mL in volume. Bioject technologies also include auto-disable features that can prevent inappropriate reuse of syringes.
"By combining Bioject's outstanding technology and products with our established marketing and distribution network and our extensive experience in meeting the needs of pharma and life sciences companies in Asia, this collaboration positions us to rapidly expand market penetration for Bioject products throughout Singapore, Malaysia and Indonesia. Working together we will also play an important role in helping more life science companies as well as patients and clinicians in these markets to recognize the improved convenience, safety and comfort that Bioject needle-free drug delivery offers," said Jane Fonda, Chief Executive Officer of Fondaco.
About Bioject Medical Technologies Inc.
Bioject Medical Technologies Inc., based in Tigard, Oregon, USA, is a developer and manufacturer of needle-free injection therapy systems (NFITS). To meet global demand for needle free injection technologies, Bioject is focused on developing mutually beneficial agreements with leading pharmaceutical, biotechnology, and veterinary companies, as well as research, global health and government organizations.
Readers and potential investors are cautioned that an investment in the Bioject's securities involve an EXTREMELY high degree of risk. Such risks include, without limitation, the risk that the distribution agreement will not be successful due to the time required in obtaining government clearances and the risk that the Company may be unable to comply with the extensive government regulations applicable to the international business. Bioject (OTC Pink: BJCT) trades on the OTC Pink tier of the OTC market. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.
For more information about Bioject, visit www.bioject.com
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