Bioject bags $500,000 financing:
This article was originally published in Clinica
Needle-free drug delivery company Bioject Medical Technologies has secured a $500,000 term loan from venture capital firm Partners for Growth (PFG). The loan is due in 12 equal monthly instalments and commences on October 1 2007. In return, PFG has a warrant to purchase around 71,000 Bioject shares at $1.40 per share. Portland, Oregon-based Bioject is currently developing a syringe for its approved product the Biojector 2000, which can deliver intramuscular or subcutaneous injections of up to 1mL in volume.