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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bioprogress | LSE:BPRG | London | Ordinary Share | GB0032681628 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5133C BioProgress PLC 21 August 2007 For Immediate Release 21 August 2007 BioProgress plc Launch of XLWrap, a New Enabling Technology variant of TabWrap(TM) London, UK, 21 August 2007: BioProgress plc ('BioProgress' or the 'Company') (AIM: BPRG), the specialty pharma and healthcare company, announces the launch of XLWrap, a new modified release variant of TabWrap(TM). XLWrap utilises the dry-coating of novel modified release tablet cores that release active drugs at specific sites within the gastro-intestinal system. The product has also been designed to deliver active pharmaceutical products with sustained-release properties which aides patient compliance. Currently, BioProgress has one product in development using the XLWrap enabling technology in addition to its other TabWrap(TM) developments. This product is in the specialist area of analgesia / anti-inflammatory medicine and will create an enhanced generic version of a known niche product that is already on the market. This specific product is due to be on the market in H2 2009, subject to the usual regulatory approvals. The product will be marketed in certain territories by BioProgress's own sales and marketing division Dexo, and will be partnered in some of the larger territories such as the US and some EU markets with specialist sales and marketing partners. BioProgress is currently entering into profit share agreements with these partners as well as license and supply agreements. These partners will be announced at a later date. The current market for the product is estimated to be in excess of $300m globally and BioProgress expects to achieve 10% of the market share within the first 12 months of product launch. Steve Martin, Chief Development Officer, BioProgress, said: "BioProgress has been able to create a full innovative enabling platform using TabWrap(TM). New advances in film design, interlinked with known tablet technology, allows the Company to offer a single platform with multiple uses, such as FastWrap(TM), EntWrap(TM) as well as XLWrap. Working with partners has allowed us to accelerate and expand our program of product-based developments and enhance our ability to commercialise products." Richard Trevillion, Chief Executive Officer, BioProgress, said: "Being able to launch a new technology with a specific product is a new step forward in the evolution of the business. The application of our technology to solve problems where traditional manufacturing techniques has failed is further evidence of the uniqueness and strength of our business strategy." 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, 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(TM) polymer technology. 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 END MSCOKKKBABKDQFB
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