wrinkle reducer
PORTLAND, Ore. — Bioject Medical Technologies Inc. (OTCBB: BJCT), a leading developer of
needle-free injection therapy systems, today announced that Bioject’s
needle-free injection delivery technology was used to successfully
demonstrate that intradermal administration of fractional doses of
inactivated poliovirus vaccine given to infants is safe and effective
(using seroconversion as an indication of effectiveness), and is
preferred by both health care administrators and parents over typical
full-dose needle and syringe. The study results, published in the June
24, 2010, issue of The New England Journal of Medicine (NEJM
Vol. 362 No. 25), also demonstrated a significant cost savings
in use of the fractional-dose intradermal injection as compared with a
full-dose vaccination course of treatment using an auto-disable needle
and syringe.
The study was conducted in Oman and supported by the Ministry of Health
of Oman, the Program for Appropriate Technology in Health (PATH) and the
World Health Organization (WHO) as part of the Global Polio Eradication
Initiative (GPEI). The randomized clinical trial of over 400 infants, of
whom 373 fulfilled the entry criteria, were selected to receive either
fractional-dose inactivated poliovirus vaccine (one-fifth of the full
dose) or a full-dose of the same vaccine over a three course treatment
during the first six months of age. The intradermal fractional-dose was
given with Bioject’s Biojector®2000 (B2000) needle-free injection
delivery device and the full-dose was delivered with an auto-disable
syringe and needle. The study was designed to assess the safety and
efficacy of, and preference for, the needle-free intradermal
fractional-dose and the potential to use a needle-free intradermal
fractional-dose vaccine option with infants in order to prevent polio
infection. The results of the study demonstrate that needle-free
intradermal administration of fractional doses of the polio vaccine was
safe, effective and lower cost than a similar course treatment with full
dose needle-syringe option. In addition, both health caregivers and
parents expressed a preference for the needle-free option because “the
baby does not cry.”
The study was one of the research and development initiatives stemming
from the GPEI’s goal to develop affordable injectable polio vaccine
options for the post-eradication era. GPEI is spearheaded by national
governments, WHO, Rotary International, the US Centers for Disease
Control and Prevention (CDC) and UNICEF.
“We are pleased to have participated in this significant clinical trial
and to learn about the positive results with intradermal fractional-dose
injection of inactivated polio vaccine using Bioject’s intradermal
delivery technology,” said Dr. Richard Stout, Bioject’s Executive Vice
President and Chief Medical Officer. Dr. Stout added, “Based on the
findings, as reported in the NEJM, we now have evidence that
demonstrates potential cost savings when using intradermal needle-free
injection delivery technology as compared with typical full-dose
injections. In addition, we along with the parents of the treated
infants are delighted to hear that the babies did not cry, leading to a
significant preference for Bioject’s needle-free injection devices. We
look forward to working with other organizations around the world who
are interested in leveraging the benefits of our needle-free intradermal
injection delivery technology for their vaccine portfolios,” commented
Dr. Stout.
Bioject Medical Technologies Inc., based in Portland, Oregon, is
an innovative developer and manufacturer of needle-free injection
therapy systems (NFITS). NFITS provide an empowering technology and work
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. The Company is
focused on developing mutually beneficial agreements with leading
pharmaceutical, biotechnology and veterinary companies.
EAST LANSING, Mich. NAPA, Calif. — American Physicians Capital Inc. (APCapital) (NASDAQ:ACAP), a major
provider of health care liability insurance, and The Doctors Company,
the largest national insurer of physician and surgeon medical liability,
today announced that they have entered into a definitive agreement
pursuant to which The Doctors Company will acquire APCapital for $41.50
per share in cash, or an aggregate purchase price of approximately $386
million. The $41.50 per share in cash purchase price represents a
premium of approximately 31 percent over the $31.76 per share closing
price of ACAP on July 7, 2010, the last trading day prior to today’s
announcement.
R. Kevin Clinton, President and CEO of APCapital said, “This transaction
delivers significant value to our shareholders. Additionally, our
insureds will benefit as they become members of one of the largest and
most respected professional liability companies in the nation. I would
like to recognize our employees, agents, and medical society partners
for their dedication and commitment to APCapital. They are the driving
force behind the success of our company.”
“We are extremely pleased to announce this partnership between two
physician-founded companies and we look forward to delivering enhanced
value to our member insureds through the financial strength of a
combined organization with a relentless commitment to protecting,
defending, and rewarding the practice of good medicine,” said Richard E.
Anderson, MD, FACP, chairman and CEO of The Doctors Company. “Members
will benefit from our partnership and will continue to receive
aggressive claims defense, unmatched legislative and patient safety
advocacy, outstanding service, and industry leading member benefits.”
With this merger, The Doctors Company further expands its position as
the largest national insurer of physician and surgeon medical liability
to nearly 55,000 member insureds.
The Board of Directors of APCapital has approved the proposed
transaction and has resolved to recommend that its shareholders approve
the merger. The transaction is expected to close in the fourth quarter
of 2010 and is subject to customary closing conditions, including the
receipt of regulatory approvals, and approval by a majority of
APCapital’s shareholders.