Cambridgeshire -- (MARKET WIRE) -- February 27, 2007 --
For Immediate Release 27 February 2007
BioProgress plc
Launch of new enabling technology - Meltums(TM)
London, UK, 27 February 2007: BioProgress plc ('BioProgress' or the 'Company')
(AIM: BPRG; NASDAQ: BPRG), the speciality pharmaceutical and healthcare company,
is pleased to update the market on the launch of a new pharmaceutical enabling
technology, Meltums™.
Meltums™ is a new enabling technology using BioProgress's proprietary
XGEL™ technology. The technology is a unique lozenge encapsulated with
XGEL™ film. With the use of the Company's SoluPol systems, Meltums™ is
able to provide a significantly higher drug loading, typically up to several
hundred milligrams. The products that can be placed within the Meltums™
system range from vitamins through to potent prescription medicines. BioProgress
is currently in discussions with several pharmaceutical companies, as the
Meltums™ system addresses their requirement for melt-in-the-mouth delivery of
large molecule drugs.
The Meltums™ system is also being targeted to pharmaceutical companies in the
area of an alternative single unit dosage form for dysphagic patients. With its
unique ability to use its polymer technology, Meltums™ is the first
melt-in-the-mouth system that is able to deliver established sustained-release
technology.
BioProgress is currently pursuing a number of feasibility studies with
pharmaceutical companies and anticipate that launch of the new system will
generate revenues over the course of the next 12 months. Products within the
nutritional and US OTC sectors are aimed to be launched during 2008.
Steve Martin, Chief Development Officer, BioProgress, said:
"The launch of Meltums™ is an important advance for BioProgress. It has come
as a response to our existing relationships with our customers and listening to
their requirements. The ability to deliver a new technology and for it to
generate revenues early on in its lifecycle is of immense benefit to the
Company.
We will be able to formulate our own products for launch as well as work with
other companies. With the ability to have a truly ground-breaking technology to
deliver sustained-release medicines we believe that this technology could
deliver substantial revenues to BioProgress within the next few years."
For further information:
BioProgress Plc + 44 (0) 20 7098 9881
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 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™ 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