Permanent implants have to fulfill a great variety of requirements related to both material and geometry. In addition, manufacturing costs play a role, which is getting steadily more and more important. Metal Injection Molding (MIM) of titanium alloy powders may contribute to the development of implants with higher functionality without increasing the price. High degree of freedom with regard to geometry, high material efficiency, and the possibility to create even porous structures are main benefits from applying this technique. Today, even long-term implants made from Ti–6Al–4V by MIM are commercially available. However, in order to improve fatigue behavior it is beneficial to perform a minor variation of Ti–6Al–4V by adding a low amount of boron. In this paper the mechanical, biological, and corrosion properties of specimens manufactured from Ti–6Al–4V–0.5B alloy by MIM are presented. In order to exclude unknown reactions in the body environment due to the boron content, corrosion, and biological tests are performed. Tensile and fatigue tests characterize the mechanical properties. Potentiodynamic polarization and electrochemical impedance spectroscopy are done in comparison to wrought and to MIM processed Ti–6Al–4V material. For cell experiments cancellous bone cells are cultured to perform adhesion, proliferation, and viability experiments. The results presented here show that the alloy Ti–6Al–4V–0.5B satisfies all basic needs of a material for highly loaded permanent implants manufactured by MIM.