Cambridgeshire -- (MARKET WIRE) -- November 16, 2006 --
For Immediate Release 16 November 2006
BioProgress plc
Patent published for nicotine in an orally dissolving thin strip
London, UK, 16 November 2006: BioProgress plc ('BioProgress' or the 'Company')
(AIM: BPRG; NASDAQ: BPRG), the speciality pharma and healthcare company, is
pleased to announce the publishing of a worldwide patent, WO2006114604, for the
incorporation of nicotine in an oral thin strip.
This patent marks a significant step forward for the development of the
company's Smoking Cessation / Nicotine Replacement Therapy franchise.
BioProgress has developed a sub-lingual film offering a rapidly absorbed low
dose of nicotine, which the company intends to take into the clinic during the
second half of 2007. The company is currently talking with a number of
strategic partners in relation to the commercialisation of this product.
The smoking cessation market in the UK alone has sales in excess of GBP88m
(Information Resources Inc). BioProgress believes that its novel developments in
this area will potentially generate revenues either through its sales and
marketing division or through partnering with larger pharmaceutical companies.
Currently, there are an estimated 1.3 billion smokers in the world. The death
toll from tobacco consumption is now 5 million people a year; if present
consumption patterns continue, the number of deaths will nearly double, reaching
close to 10 million by the year 2020 (World Health Organisation 2006).
Steve Martin, Chief Development Officer, BioProgress, said:
"The publication of the patent allows the pharmaceutical team to accelerate
development of this exciting project. BioProgress has significant experience in
the area of Nicotine Replacement Therapy, including the development and the
process of switching products in the US market from "Prescription to Over the
Counter status."
For further information:
BioProgress Plc + 44 (0) 20 7098 9880
Richard Trevillion, CEO
Steve Martin, CDO
Buchanan Communications + 44 (0) 20 7466 5000
Rebecca Skye Dietrich/Mark Court
About BioProgress
BioProgress plc is an innovative specialty pharmaceutical and healthcare
business based around its platform technologies in polymer and film systems.
Listed on London's AIM in May 2003 and on US NASDAQ in October 2004, the company
has over 80 patents granted or in application within 24 patent families and has
product development agreements and strategic alliances with several global
companies. As a virtually integrated business, BioProgress has acquired sales
and marketing resources within Europe and the US as a launch mechanism for its
own pharmaceutical products. The business continues to develop innovative
delivery mechanisms using its XGELTM polymer technology, replacing the need to
use animal-derived gelatine in pharmaceutical and healthcare products. For
further information please go to
www.bioprogress.com
Forward-Looking Information
The Ordinary Shares of BioProgress plc are registered under the US Securities
and Exchange Act of 1934. To the extent that this announcement contains certain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, this paragraph applies. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from the
expectations contained in the forward-looking statements. The forward-looking
statements in this release include statements addressing future financial and
operating results and the timing and benefits of the reorganisation. Detailed
information about factors pertinent to the business of the company that could
cause actual results to differ is set forth in the Company"s filings with the
Securities and Exchange Commission. The Company is under no obligation to (and
expressly disclaim any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or otherwise.
This announcement is for information only and does not constitute an offer or
invitation to acquire or dispose of any securities or investment advice. The
distribution of the announcement and/or issue of securities in certain
jurisdictions may be restricted by law. Persons into whose possession this
announcement comes are required to inform themselves about and to observe such
restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange