For Immediate Release 1 February 2007
BioProgress plc
Operational Board Update and Appointment
London, UK, 1 February 2007: BioProgress plc ('BioProgress' or the 'Company')
(AIM: BPRG; NASDAQ: BPRG), the speciality pharmaceutical and healthcare company,
today announces the creation of a new executive operational board for the
Company, and the appointment of Keith Hemming, as Head of Operations, a new
position within the management team of BioProgress.
The operational board will be responsible for the day to day management of the
Group. This has become necessary as the number of new development projects both
for partners and for the Company's own pharmaceutical division is increasing
substantially due to positive validation work and the adoption of a number of
BioProgress's enabling systems. At the same time the core pharmaceutical
division Dexo is undergoing rapid growth in all of its territories. This
underlying organic growth validates the Company's product led strategy and
creates the resource necessary for continued substantial growth.
Keith Hemming, the new Head of Operations, has over twenty years experience in
the Pharmaceutical industry, holding senior marketing and General Management
positions with Squibb, Yamanouchi, and most recently as President UK Operations
for Fujisawa Pharma, member of the Fujisawa European senior management team.
Prior to this he was with Astellas Pharmaceuticals Global Licensee Division
working on European strategy and implementation. During his career he launched
Flomax and Protopic in the UK, and took Prograf, an immunosuppressant, to market
leadership.
Keith was a member of the Board of Management of the Association of British
Pharmaceutical Industry (ABPI) for four years, and member of the UK
Pharmaceutical Code of Practice Appeal Board.
He was also founder and first Chair of the UK Japanese Pharmaceutical Group
associated to the Japanese Pharmaceutical Manufacturers Association (JPMA), and
Chair of the Industry Group for the National Health Service Framework for Renal
Services.
Richard Trevillion, Chief Executive Officer, BioProgress Plc, said:
"We are pleased to welcome Keith to the operational management team. Keith has
substantial experience in sales and marketing and in managing high growth late
stage pharmaceutical product development. His knowledge of the Japanese
pharmaceutical industry is also welcome as BioProgress increases its marketing
activity within Japan. "
Keith Hemming, Head of Operations, said:
"I am delighted to be joining BioProgress at such an exciting stage in the
Company's development. The recent increase in activity is testament to the
strength of the core enabling systems which are contributing to a strong product
development pipeline. The resulting rapid growth in the Dexo pharmaceutical
sales and marketing division validates the product led speciality pharmaceutical
model that BioProgress is proactively pursuing."
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 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
Cambridgeshire -- (MARKET WIRE) -- February 1, 2007 --