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Inovio Pharmaceuticals Closes USD 5.5m Acquisition of Bioject Needle-Free Injection Technology.

M2 EQUITYBITES-May 9, 2016-Inovio Pharmaceuticals Closes USD 5.5m Acquisition of Bioject Needle-Free Injection Technology

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9 May 2016 - US-based drugmaker Inovio Pharmaceuticals, Inc. (NASDAQ: INO) has closed the acquisition of Bioject Medical Technologies Inc.'s assets including needle-free jet injection technology, devices, and intellectual property, the company said.

Inovio paid Bioject USD 5.5m in cash and stock.

The company said it will advance an integrated non-invasive delivery device combining Bioject's jet injection technology with Inovio's new needle-free, skin-surface electroporation technology.

Inovio's goal is to facilitate preventive immunisation using its DNA vaccines against critical infectious diseases with unmet needs in large populations.

Bioject's needle-free devices, which use high pressure gas or springs to propel liquid medicine into skin, have demonstrated desirable utility, safety, and tolerability attributes in animals and humans.

Under a prior research agreement, Inovio assessed this technology with its new EP delivery system and generated compelling antigen expression and immune responses in animals.

Injecting DNA immunotherapies into tissue alone, irrespective of the injection method, has not generated potent immune responses in clinical studies. DNA immunotherapies must enter cells of the tissue to enable their immune-activating capabilities, which is limited using syringe or jet injection alone.

One of two pillars in Inovio's success in achieving clinically relevant efficacy with induced immune responses is its proprietary EP technology enabling delivered DNA to be transported into the cells.

Inovio's data have to date been achieved using intramuscular needle-based injection and EP, which is well-suited for treating cancers and infectious diseases.

Inovio will pay Bioject USD 4.5m in Inovio stock (price set by 20 day weighted average share price immediately prior to closing) and USD 1m in cash.

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Publication:M2 EquityBites (EQB)
Date:May 9, 2016
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