SAN DIEGO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Biora Therapeutics, Inc. (NASDAQ:BIOR), the biotech company that is reimagining therapeutic delivery, today announced achievement of its device performance targets for the company's BioJet™ platform for oral, systemic delivery of biotherapeutics, which uses an ingestible device designed to achieve systemic uptake through liquid jet delivery to the small intestine.

The company announced during its recent quarterly conference call that it had preliminary results from animal testing indicating achievement of both its device function targets and its performance target of greater than or equal to 15% average bioavailability with the autonomous version of its next-generation device. As planned, the company subsequently conducted repeat studies and has now confirmed the achievement of its development targets for the BioJet platform.

"Achieving these performance targets in multiple animal studies has enabled us to initiate testing the molecules of two of our three pharma collaborators with our next-gen device, which is in line with our stated goal to progress our collaborations and work towards meaningful partnerships this year," said Adi Mohanty, Chief Executive Officer of Biora Therapeutics.

"While many organizations have been working to solve the challenge of oral delivery of large molecules, our approach stands out because of our ability to deliver essentially existing liquid formulations with multi-milligrams per dose. Looking ahead to the future of disease management, we think our BioJet platform will be well positioned to deliver more complex molecules, such as dual and triple agonists for diabetes management, monoclonal antibodies, peptides, and other large molecules used for many complex diseases, without the use of needles," continued Mr. Mohanty.

In June, the company presented data generated with the BioJet platform at the American Diabetes Association 83rd Scientific Sessions, assessing the bioavailability of semaglutide delivered via the BioJet device in an animal model. Biora will be presenting more BioJet device-generated data in a short oral discussion at the 59th annual meeting of the European Association for the Study of Diabetes, to be held October 2–6, 2023 in Hamburg, Germany.

About the BioJet™ Systemic Oral Delivery Platform

Biora's BioJet systemic oral therapeutics platform uses an ingestible capsule for needle-free, oral delivery of large molecules designed to achieve systemic bioavailability and replace injection for better management of chronic diseases.

The BioJet platform uses an ingestible device designed to transit through the digestive system and activate in the small intestine, where liquid jets deliver drug directly into the intestinal tissue for uptake into systemic circulation. The BioJet device is approximately the size of a multivitamin and is designed to autonomously deliver a wide range of large molecules, such as proteins, peptides, and nucleic acids, in liquid formulation up to 400µL.

Biora holds a comprehensive patent position for the BioJet systemic oral delivery platform, with approximately 11 issued patents and 27 pending applications that cover its delivery platform and methods for using the platform to treat a disease or condition in a patient using liquid jet delivery of a wide range of drugs.

About Biora Therapeutics

Biora Therapeutics is reimagining therapeutic delivery. By creating innovative smart pills designed for targeted drug delivery to the GI tract, and systemic, needle-free delivery of biotherapeutics, the company is developing therapies to improve patients' lives.

Biora is focused on development of two therapeutics platforms: the NaviCap™ targeted oral delivery platform, which is designed to improve outcomes for patients with inflammatory bowel disease through treatment at the site of disease in the gastrointestinal tract, and the BioJet™ systemic oral delivery platform, which is designed to replace injection for better management of chronic diseases through needle-free, oral delivery of large molecules.

For more information, visit bioratherapeutics.com or follow the company on LinkedIn or Twitter.

Safe Harbor Statement or Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, which statements are subject to substantial risks and uncertainties and are based on estimates and assumptions. All statements, other than statements of historical facts included in this press release, including statements concerning the progress and future expectations and goals of our research and development and clinical efforts, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "estimate," "predict," "potential," "plan," "target," or the negative of these terms, and similar expressions intended to identify forward-looking statements. These statements reflect our plans, estimates, and expectations, as of the date of this press release. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the forward-looking statements expressed or implied in this press release. Such risks, uncertainties, and other factors include, among others, our ability to innovate in the field of therapeutics, our ability to make future filings and initiate clinical trials on expected timelines or at all, our ability to obtain and maintain regulatory approval or clearance of our products on expected timelines or at all, our plans to research, develop, and commercialize new products, the unpredictable relationship between preclinical study results and clinical study results, our expectations regarding allowed patents or intended grants to result in issued or granted patents, our expectations regarding opportunities with current or future pharmaceutical collaborators, our ability to raise sufficient capital to achieve our business objectives, and those risks described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC and other subsequent documents, including Quarterly Reports, that we file with the SEC.

Biora Therapeutics expressly disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Investor Contact

Chuck Padala

Managing Director, LifeSci Advisors

IR@bioratherapeutics.com

(646) 627-8390

Media Contact

media@bioratherapeutics.com

Biora Therapeutics Progresses its BioJet™ Systemic Oral Delivery Platform