Bioject Medical Technologies
This article was originally published in The Gray Sheet
Executive Summary
Bioject Medical Technologies: Shareholders adopt a proposal to exchange a $12 mil. note held by Bioject joint venture partner Elan for about 832,000 shares of newly authorized Series A and Series B convertible preferred stock of Bioject. Stockholders also authorized the issuance of up to $4 mil. of Series C convertible preferred stock to Elan to fund further development of a continuous glucose level monitoring system for diabetics. The move finalizes financing arrangements related to a joint venture between Bioject and Elan forged in October 1997 for development of the device ("The Gray Sheet" Oct. 20, p. 17)...