The agreement includes the payment of an upfront fee to Bioject, payments to extend the option term and license additional targets, payments upon the achievement of specific milestones, commercialization terms, transfer pricing and royalties.
“We are pleased to have entered into this agreement with Vical,” said Jim O’Shea, president and CEO of Bioject. “As we have shown in several studies, our technology can enhance the delivery of DNA-based vaccines and we feel our needle-free delivery may enhance Vical’s delivery of their DNA vaccines under development.”
Needle-free injection works by forcing medication at high speed through a tiny orifice held against the skin. This creates a fine stream of high-pressure fluid penetrating the skin and depositing medication in the tissue beneath.