Micap Share Discussion Threads

[learntlesson] 24/8/2005 20:49

hmm, guess they are either struggling to aggregate the mass of figures from contracts won, or waiting for something, anything, to turn up....

However I still think something could come out of this one day.......

[rambutan2] 24/8/2005 17:18

well they running out of time to announce as promised in august!

[pomp circumstance] 24/8/2005 13:37

VHS recorders are cheap too ;)

[learntlesson] 24/8/2005 13:35

This is becoming very very cheap. Is it not worth anything anymore?

[rambutan2] 15/8/2005 16:51

hmmm. with results due, that big sell doesnt bode well!

[unionhall] 09/8/2005 14:58

I don't read it that the patent necessarily includes the Micap Technology.

[daveperry] 09/8/2005 14:23

Did anyone know that Bioprogress have taken out a patent for the smoking cesation product.



.BioProgress Technology Limited has filed and application for nicotine dosage forms. The company, based inCambridgeshire (UK), specializes in the development and commercialization of patents covering water solubleand biodegradable films. In August 2004 Micap granted a six-month option to BioProgress to allow it to eval-uate exclusively micro-encapsulation technology developed for smoking cessation products (SCPs) in water-soluble films. The intent was that if successful this would lead to an exclusive licensing agreement betweenMicap and BioProgress. BioProgress has developed 'in-the-mouth' dissolving films as an alternative to gums,patches and other current delivery methods for nicotine and has been working with a US-based company toevaluate the opportunity for SCPs. Micap's technology potentially enables the release of nicotine at a fasterrate than current delivery methods, and may enable the US-based company and BioProgress to develop a total-ly new and improved product for the SCPs market place. In November 2004 the company got an exclusiveeight-month option to evaluate new film technology developed by The Department of Chemical Engineering atCambridge University for applications in soluble film.

applications filed April 22nd- 29th2005

[rambutan2] 27/7/2005 16:28

results due sometime next month.

[rambutan2] 06/6/2005 19:56

is that why price has dropped so?
mms usually drop it down to something there or thereabouts.
so, fund raising at 12-15p?
or something else?

[m.t.glass] 06/6/2005 07:43

The S.Times
".... MICAP (talk that Teather & Greenwood is close securing
additional funding for the yeast encapsulation specialist)...."

[rambutan2] 02/6/2005 10:55

have been promised a call next tues - main man on hols this week.

[relwood] 02/6/2005 08:30

Matthu-

cheers. I'll keep watching.

[matthu] 01/6/2005 16:46

Widening losses at half 1, profits warning in April, licensing deals taking longer to close than anticipated, no long term debt in place. All beginning to suggest that the company will need to approach the market for refinancing before too long? Of course, while it's doing this, it's taking its eye off the ball.

[relwood] 01/6/2005 16:24

I have followed this for some time and it has always looked attractive, however, I have not bought. I am not clear why the fall has been so long and far. Any thoughts/information?

[matthu] 01/6/2005 16:09

Market capitalisation is 4.76 m. If SKP still has any interest in the technology ... they could probably buy them out now! They've just raised £10m more than they needed to pay off existing bond holders.

[m.t.glass] 01/6/2005 16:04

It do look grim. The other food tech co mentioned in my header (CLR) has been equally unimpressive. Long long time since I abandoned both, so not costing me, but still sad to see.

[gjabrj] 01/6/2005 15:36

Anyone spoke to the company recently?

Is the writing on the wall?

[tony5505] 01/6/2005 15:34

Down 18% on a single sell trade worth £520.

[matthu] 20/5/2005 14:37

Down another 1p ... although the volume is negligible and the spread in almost 20%.

[unionhall] 04/5/2005 15:29

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[tuffbet] 06/4/2005 17:47

Things don't add up here ie if you look at the Trades th purchases massively exceed the sales today and yet the price has been moved back 20%.

I suspect but obviously don't know , that there might be some intentional tree shaking here to get some of the weaker shareholders out to fill an order .


I realise that's an optimistic slant on things but I would not be at all surprised to find out that it was correct.

There is nothing in today's statement or the Citywire article which justifies /explains today's % price change hence my suspicion that something else is going on .

If you read this and you are thinking of selling please don't let my observation /opinion put you of -go with your own gut feeling as I am doing

[matthu] 06/4/2005 14:15

Amusing observation, PC!

SKP is also labouring under deals which take a long time to materialise / drugs which take a long time to get approval by fda.

SKP recently upped their stake in Astralis to 49% just before a Phase II trial failed to meet efficacy target and share price dropped through the floor. (However, the Phase II result would appear to be contradicted by much more extensive data in Venezeula - but that's another story!)

[pomp circumstance] 06/4/2005 13:55

Would almost be worth SKP buying them now wouldnt it?


OR


running them into the ground and nicking what they want!! :((

[matthu] 06/4/2005 13:49

Micap hit by delays

Shares in AIM-listed Micap fell back when the yeast-based drug delivery technology company said some of the access and option fees it was expecting in the year to 31 March had been delayed.

Chief executive Michael Brennand told Citywire that discussions with a number of partners on the evaluation of products and the details of various licensing deals had taken longer than expected.

While today's statement doesn't amount to a warning, it will doubtless damage revenue and profits. The shares (MIC) fell 2p to 25.5p in active trading, valuing the company at just £7.4 million.

The Cheshire-based company also said today that 20% shareholder SkyePharma was exercising its option to use Micap technology in a further nine pharmaceutical products.

Beyond the fact that all these are in tablet rather than topical form, no details are being released.

Brennand knows that if he could say more, shareholders would have more idea where the company is going, but SkyePharma is worried about alerting its competitors and he is sworn to secrecy.

Last March SkyePharma paid £500,000 for an exclusive license to use Micap's patented microencapsulation technology in up to ten nominated pharmaceutical products, all of them hydrophobic drugs.

Micap would also receive royalties from SkyePharma on any sales made of the option product or on licences granted.

SkyePharma will make milestone payments on the successful completion of Phase II and Phase III clinical trials and also on the commercial launch of the first Option Product.

Brannand says concluding the option deal with SkyePharma means that it can now market its encapsulation system to other pharmaceutical companies.

He highlights one area relating to topical skin application, where there have been 'highly positive results in laboratory tests'. It is thought that this may relate to the hospital bug MRSA.

Some shareholders burned their fingers on Micap when the shares peaked at 82.5p a year ago after SkyePharma founder Ian Gowrie-Smith became non-executive chairman and the company bought a £2 million stake.

Micap floated on AIM in August 2003. The encapsulation of yeast cells allows the controlled release of active ingredients while protecting them from changes in temperature and light.

Tiny droplets of liquid or particles of solid material are coated with a continuous film of polymeric material using killed yeast cells as natural capsules to protect the active ingredient.

Citywire Verdict: It will be impossible to evaluate the worth of the SkyePharma deal until the products progress through trials and we know what they are. Although the shares are relatively cheap, they are only for those with trust and patience. Holders need to take at least a two-year view.