EXHIBIT 10.69



June 29, 1999


Via Federal Express

Mr. Jim O'Shea
Chairman, President and CEO
Bioject Inc.

7620S.W. Bridgeport Road
Portland, Oregon 97224

Re:  Binding Letter Agreement

Dear Mr. O'Shea:

We are pleased to have reached an  agreement  in principle  with Bioject for the
development by Bioject of a disposable, prefilled needle-free injector for Amgen
pursuant to the following terms of this Binding Letter Agreement:

1. Within fifteen (15) days of the execution of this Binding  Letter  Agreement,
Amgen shall pay to Bioject a one-time sum of $250,000. In consideration thereof,
Bioject shall:

     (a) not negotiate with,  solicit offers from, or hold discussions with, any
     third party,  in any territory,  regarding the development of a disposable,
     needle-free injector for use in the treatment of *** and/or *** ("Exclusive
     Negotiation")  for the  period  beginning  as of the  date of this  Binding
     Letter  Agreement  and ending on the later of: (i) August 31, 1999, or (ii)
     five (5) business days following  delivery of the deliverables set forth in
     paragraph 1(b) below, but in no case later than March 31, 2000; and

     (b) develop a  disposable,  prefilled  needle-free  injector and deliver to
     Amgen the first set of deliverables  set forth on Schedule "A" hereto on or
     before August 31, 1999.

     * It is understood and agreed by the parties that the aforesaid  payment by
     Amgen of $250,000 is apportioned as follows: (i) $100,000 for the Exclusive
     Negotiation  period  through  August 31,  1999,  and (ii)  $150,000 for the
     development and deliverables.

2. On or before the later of (i) August 31, 1999, or (ii) five (5) business days
following  delivery of the deliverables set forth in paragraph 1(b) above, Amgen
may elect to extend the  Exclusive  Negotiation  period and the  development  by
giving  written notice to Bioject of its intention to do so, in which case Amgen
shall,  within  fifteen (15) days of such notice,  pay to Bioject an  additional
one-time sum of $250,000, and Bioject shall:

     (a) extend the Exclusive  Negotiation  period up to and including the later
     of: (i) December 31, 1999, or (ii) fifteen (15) days following delivery of



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*** Confidential  portions omitted pursuant to a confidential  treatment request
submitted  pursuant to Rule 24b-2 under the Securities  Exchange Act of 1934, as
amended.  Omitted  portions have been filed  separately  with the Securities and
Exchange Commission.

<PAGE>


     the  deliverables  set forth in paragraph 2(b) below,  but in no case later
     than March 31, 2000; and

     (b) continue  development of a disposable,  prefilled  needle-free injector
     and deliver to Amgen the second set of  deliverables  set forth on Schedule
     "A" hereto on or before December 31, 1999.

     * It is understood and agreed by the parties that the aforesaid  payment by
     Amgen of $250,000 is apportioned as follows: (i) $100,000 for the extension
     of  Exclusive  Negotiation  period  through  December  31,  1999,  and (ii)
     $150,000 for the development and deliverables.

3. During the  Exclusive  Negotiation  period,  at Amgen's sole  discretion  and
option,  the  parties  shall  negotiate  in good  faith  toward  execution  of a
definitive agreement for the potential future development, license and supply by
Bioject to Amgen of disposable, prefilled needle-free injectors.

4. Any intellectual property and/or know-how arising out of the development work
provided for in  paragraphs  1(b) and 2(b) above shall be  exclusively  owned by
Bioject;  provided,  however,  that any industrial designs  contributed by Amgen
shall be exclusively owned by Amgen.

5. In the  event  that  Bioject  fails to  deliver  any or all of the  aforesaid
deliverables,  Bioject  shall  refund to Amgen that  portion  of the  applicable
one-time fee apportioned to such deliverable(s).

6. The  Confidential  Disclosure  Agreement dated October 1, 1997, as amended on
March 22,  1999 (the  "CDA"),  between  the  parties is  incorporated  herein by
reference.

7. Except as provided in the CDA,  neither party shall use the name of the other
party or make any press release or other disclosure of the existence or terms of
this Binding  Letter  Agreement  without the prior written  consent of the other
party.

8. This Binding Letter Agreement shall be governed by California law.

9. No  Amendment  or  modification  of this Binding  Letter  Agreement  shall be
effective  unless made in writing and signed by  authorized  representatives  of
each of the parties.

10.  Except as set forth in  paragraph 6 above,  this Binding  Letter  Agreement
constitutes  the entire  agreement  between the parties and supercedes all prior
and/or  contemporaneous  agreements and undertakings  between the parties,  both
written and oral, relating to the subject matter hereof.





                                       2

*** Confidential  portions omitted pursuant to a confidential  treatment request
submitted  pursuant to Rule 24b-2 under the Securities  Exchange Act of 1934, as
amended.  Omitted  portions have been filed  separately  with the Securities and
Exchange Commission.

<PAGE>


Please acknowledge your acceptance of the terms of this Binding Letter Agreement
by executing  where indicated  below.  Please sign both originals and return one
(1) original to my attention.

Sincerely,



/s/ Dennis Fenton
----------------------------------
Dennis Fenton
Senior Vice President

Operations and Process Development

Accepted and Agreed To:

Bioject Inc.



/s/ Jim O'Shea
----------------------------------
Jim O'Shea
Chairman, President and CEO








                                       3


*** Confidential  portions omitted pursuant to a confidential  treatment request
submitted  pursuant to Rule 24b-2 under the Securities  Exchange Act of 1934, as
amended.  Omitted  portions have been filed  separately  with the Securities and
Exchange Commission.

<PAGE>


                                  Schedule "A"

                              Bioject Deliverables

Due on or before August 31, 1999:

1.   Initial  development  specifications for the device that meet Amgen product
     profiles,  design  requirements  and  criteria.  The  package is to include
     individual specifications for each of the major device components:
     o Primary product storage container including
          -- Glass Cartridge
          -- Rubber Plunger
          -- Rubber Stopper
          -- Rubber O-Ring
     o Nozzle
     o Injector Body and Components
     o Gas Cartridge

2.   Updated plans and timelines for device development.
3.   Materials specifications.
4.   Initial CAD/Pro-Engineer based parts drawings.
5.   Updated Cost Estimates
6.   5 Design breadboard models  incorporating  Amgen industrial  design.  These
     models  are  not  required  to  be  functional;  however,  they  should  be
     representative  of actual product size,  shape weight and  appearance.  All
     customer interface mechanisms should be indicative of the working function.


Due on or before December 31, 1999:

1.   50  prototype  injectors   incorporating  Amgen  industrial  design.  These
     injectors will be  constructed  with part pieces created from a combination
     of prototype aluminum tooling and machining processes.  The devices will be
     manually assembled using appropriate fixtures and equipment.
2.   Product Testing Plan - Details on what testing is required and how it is to
     be implemented.  Plan should account for Functional  Testing,  ISO Testing,
     and Failure Modes Testing.
3.   Product  Assembly  Flow Plan -  Detailing  the entire  filling  and product
     assembly  process.  The plan should be divided into logical,  modular steps
     and account for logistics and sub-contractor activities.
4.   Assembly  Equipment  Procurement  Plan  -  Detailing  estimated  costs  and
     production lead-time for automated assembly equipment.






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*** Confidential  portions omitted pursuant to a confidential  treatment request
submitted  pursuant to Rule 24b-2 under the Securities  Exchange Act of 1934, as
amended.  Omitted  portions have been filed  separately  with the Securities and
Exchange Commission.