For Immediate Release 20 March 2007
BioProgress plc
BioProgress to co-promote new 'Slimthru' product with the Melbrosin Group in UK
market
London, UK, 20 March 2007: BioProgress plc ('BioProgress' or the 'Company')
(AIM: BPRG; NASDAQ: BPRG), the specialty pharmaceutical and healthcare company,
is pleased to announce the creation of a new partnership with Melbrosin Group AG
("Melbrosin"). The Company has also entered into a co-promotion agreement with
Melbrosin for 'Slimthru', a new innovative weight management product which helps
users maintain weight continuity. This product fits strongly with the growing
OTC franchise within BioProgress and the emphasis in niche areas such as
appetite suppressants.
Slimthru, marketed as 'SlimCup' elsewhere in Europe, has been launched
successfully by Melbrosin in the German, Austrian and Italian markets with sales
over EUR2 million in the first two months of 2007. The product uses natural
ingredients and is positioned as a weight maintenance product, avoiding the
problems associated with rapid weight loss and subsequent gain (the 'yoyo'
effect) associated with traditional appetite suppressant and weight loss
products. Slimthru is therefore complementary with both existing market
prescription and other OTC slimming products.
The UK has the third-highest rate of obesity in the world. Two thirds of men
(67%) and well over half of all women (56%) are classified as overweight whilst
almost a quarter of these are obese. Obesity is a contributory factor to certain
health risks such as type II diabetes, coronary heart disease and cancer.
Obesity-related illnesses are now the cause of over 30,000 deaths and 18 million
sick days a year in the UK. The market for slimming products in the UK is
estimated to be over GBP100 million.
BioProgress will support the sales of Slimthru by using its developing network
of retail outlets in parallel with Melbrosin's existing distribution network for
which it will receive 10% of gross sales. BioProgress will also work together
with Melbrosin on the media campaign to increase awareness of the product range
and alternatives to existing treatments.
Dr Ian Campbell, Founder of the National Obesity Forum, UK, said:
"Weight management allows individuals to regain control over dietary habits,
activity levels and improve their health in a wide variety of ways. In my
clinical practice we use a variety of strategies to empower patients to regain
control over their dietary intake. Slimthru is one of these new and innovative
strategies. Easy to use, palatable, without side effects and with immediate
results. A pleasant feeling of fullness leads to a decreased need or desire to
eat. The resultant improved dietary control leads to decreased calorie intake
and can help significantly towards weight loss. The patient is empowered, and is
incentivised to become more active and take control of their lifestyle and
health.
Richard Trevillion, CEO of BioProgress Plc, said:
"We are delighted to be working with Melbrosin, who share our vision of
innovative therapies and patient focused product delivery. In particular the
launch of Slimthru is an opportunity to demonstrate these themes in a rapidly
growing dynamic segment of the market."
Klaus Kuhne and Helmut Kerschbaumer, Managing Director's of Melbrosin Group,
said:
"Following our very successful launch of Slimthru in several European Countries,
we are keen on creating more awareness for our UK launch of this very innovative
health and weight management concept. For more than 45 years Melbrosin has been
known for the high standard of products and the trust it inspires not only in
consumers, but also in the medical community and pharmacists. In BioProgress, we
strongly believe we have found the ideal partner for our future growth in and
outside of the UK market."
For further information:
BioProgress Plc + 44 (0) 20 7098 9881
Richard Trevillion, CEO
Steve Martin, CDO
Hiral Patel ,CFO
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 vertically 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 XGEL(TM) polymer technology, replacing the need to
use animal-derived gelatine in pharmaceutical and healthcare products. For
further information please go to www.bioprogress.com
About Melbrosin
Melbrosin is an Austrian-Swiss company founded in 1959 and bought out by its
present owner managers in 2000. The Company's focus is upon consumer health care
products based on substances of natural and plant origin. Natural actives are
developed into consumer orientated brands then scaled, produced and distributed
by Melbrosin. Melbrosin achieved turnover of EUR14 Million in 2006 in over 20
countries.
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
Cambridgeshire -- (MARKET WIRE) -- March 20, 2007 --