On Mar. 14, 2016, Inovio Pharmaceuticals announced an agreement to acquire all of Bioject Medical Technologies’ assets including pioneering needle-free jet injection technology, devices, and intellectual property.

Inovio paid Bioject $4.5 million in Inovio stock (price set by 20 day weighted average share price immediately prior to closing) and $1.0 million in cash. Bioject, founded in 1985, was based in Tigard, Oregon.

Inovio will advance an integrated non-invasive delivery device combining Bioject’s jet injection technology with Inovio’s new needle-free, skin-surface electroporation (EP) technology. The company’s goal is to facilitate preventive immunization 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.

With respect to needle-less vaccine administration, Inovio has an extensive vaccine pipeline to leverage this technique. It has ongoing clinical programs for flu, HIV, Ebola, and MERS; proof-of-principle human data has shown significant immune responses generated by its universal influenza and HIV DNA vaccines; and preclinical-stage DNA vaccines target important diseases such as Zika, dengue, Chikungunya and RSV.