Financings in Brief: Bioject
This article was originally published in The Gray Sheet
Executive Summary
Bioject: Raises $3.3 mil. in gross proceeds in a private placement of approximately 2 mil. shares of common stock and five-year warrants to buy 1.5 mil. shares at $3 each. The company, which develops "jet" injection systems for needle-free drug delivery, currently markets the Biojector 2000 injection management system. Bioject also is developing a "personal injector system for self administration of beta interferon by multiple sclerosis patients in collaboration with Schering AG," and is working on an injector system for use with Hoffman-La Roche products. The firm says that the funding is "a key part" of its "overall financing strategy and an indication of the investors' confidence in Bioject's strategic vision"...