Cambridgeshire -- (MARKET WIRE) -- December 21, 2006 --
For Immediate Release 21 December 2006
BioProgress plc
Launch of two new products in US and placement of TabWrap(TM) system
London, UK, 19 December 2006: BioProgress plc ('BioProgress' or the 'Company')
(AIM: BPRG; NASDAQ: BPRG), the speciality pharma and healthcare company, today
announces the launch of two new products within its US portfolio through its
subsidiary Dexo LLC. The Company also announces the placement of its first
production TabWrap™ system into a fully compliant pharmaceutical
manufacturing facility.
The two new products are line extensions of existing brands within the Company's
respiratory portfolio. The current respiratory pharmaceutical market is
estimated to be worth around US$25 billion per year. The first product is the
launch of a twice a day formulation of the successful Ah-Chew II chewable
tablet. The previous formulation was a four times a day dosage. The Ah-Chew
brand is a core brand for the Company and will be one of the main launch brands
for additional product developments.
The second product is the EZ Spacer Hero Kit, aimed at the paediatric market.
This is a portable drug delivery system designed for use with most metered dose
inhalers. The E-Z Spacer is unique in that it has a visual sign when treatment
is completed as the clear reservoir bag collapses when medication has been
inhaled. This is ideal for paediatric use and offers an alternative to the
established fixed volume systems. The Hero Kit provides a comprehensive patient
support package to ensure patient compliance.
Dexo is also planning to launch two further products in Q1 2007 further
enhancing the current brand value. Additional launches using BioProgress's
proprietary technology are currently planned.
Steve Martin, Chief Development Officer, BioProgress, said:
"The launch of two new products into the US market is part of our core strategy
to leverage the brands that we acquired from Airpharma in October this year.
With further product launches imminent, including products utilising our own
proprietary technology, it shows that our US operations are maximising the
growth potential of these brands."
TabWrap™ is a novel tablet coating enabling delivery technology that uses
XGEL™ film to coat and bind compressed tablet or friable cores. The film can
have different release characteristics including instant release through to
enteric coating (EntWrap)
The TabWrap™ system has been placed with INyX Group ("INyX") at its site near
Manchester, England. Inyx, Inc. is a specialty pharmaceutical company with niche
drug-delivery technologies and products for the treatment of respiratory,
allergy, dermatological, topical and cardiovascular conditions. Inyx focuses
its expertise on both prescription and over-the-counter pharmaceutical products,
and provides specialty pharmaceutical development and production consulting
services. In addition, Inyx is developing its own proprietary products. The
company's operations are conducted through several wholly owned subsidiaries:
Inyx USA Ltd., based in Manati, Puerto Rico; Inyx Pharma Ltd. and Inyx Europe
Limited, which owns and operates Ashton Pharmaceuticals Ltd., all near
Manchester, England; Inyx Canada, Inc. in Toronto; and Exaeris, Inc., based in
Exton, Pennsylvania, which conducts Inyx's marketing and distribution
activities.
BioProgress will be commencing its validation program of the system at the new
site early in 2007 with products being put onto stability programs using the
technology for BioProgress's own product developments and for third party
product development partners.
Richard Trevillion, Chief Executive Officer, BioProgress, said:
"The placing of our TabWrap enabling technology into INyX is a significant
milestone for BioProgress. The system has been developed and engineered in a
timely manner and is testament to our staff and partners ability to deliver our
projects. We look forward to working with INyX in commercialising our
technology."
Jack Kachkar, M.D., Chairman and CEO of Inyx, Inc., said:
"We are pleased that BioProgress has selected to team up with Inyx to assist in
the validation requirements and commercialization of its TABWRAP™ technology.
We look forward to a growing collaboration with BioProgress."
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
Lisa Baderoon
Rebecca Skye Dietrich
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 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.
About Inyx
For more information, please visit:
www.inyxgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange