BPRG Bioprogress

RNS Number:5842Y
BioProgress PLC
19 June 2007


For Immediate Release                                               19 June 2007

                BioProgress plc ('BioProgress' or the 'Company')

                        AGM Statement and Company Update





London, UK, 19 June 2007: BioProgress (AIM: BPRG), the speciality pharma and
healthcare company, is holding its AGM at 2.30pm today and will make the
following update.



Trading



The Company is pleased to announce that it is trading above annualised turnover
expectations for the half year to June 2007. Its current sales and marketing
operations, are performing to expectations and benefiting from increased market
awareness due to several recent product launches. With the product portfolio
currently focused upon seasonal products with peak sales expected from September
and with the additional acquisition of Rocgel, BioProgress is confident that the
progress made through the first half of the year will be maintained through the
second half of the year.



Partners



BioProgress is also pleased to announce a new commercial relationship with
Merck-Serono, one of the largest pharmaceutical companies in the world. The
Company is  partnering four of its developed and commercialised technologies
with a division of Merck-Serono, comprising TabWrapTM, FastWrapTM, SoluPolTMand
MeltumsTM for products specifically in the area of female healthcare, a global
$54 billion market. The Company is also working with an additional three global
pharmaceutical companies all with multiple enabling systems. In addition, the
Company is currently in detailed product and technology discussions with over 15
different pharmaceutical companies for commercial partnering arrangements. The
technology focus of these developments are related to the TabWrapTM, FastWrapTM,
SoluleavesTM and SoluPolTM enabling systems.  The product indications are
focussed within the analgesic, cough/cold and gastro-intestinal categories. The
developments with partners include the use of the technology with category
leading brands within the US and other markets.



BioProgress will receive milestone, royalty and licensing payments along with
development and co-commercialisation rights. Some of the partner programs
incorporate profit-sharing agreements. The Company is expecting an increase in
the number of new partner development programs during the second half of 2007.
The Company will also maintain manufacturing rights for certain of these
arrangements.



The Global OTC analgesic market is worth $6.2 billion in 2007 (Datamonitor) with
the US, UK and Japan being the largest three single national markets. This
market centres around paracetamol/acetaminophen, ibuprofen and aspirin as the
major molecules. The global OTC cough/cold market is worth $10.5 billion with
the USA, Japan and Germany being the three largest national markets.



In addition, the Company has identified its preferred partner for its smoking
cessation product, DBP121. The marketing aspects of the partnering program are
currently being assessed on a global basis with BioProgress retaining certain
rights to some territories and the manufacturing rights. The global market size
is $2.1 billion within the OTC arena with the US having an additional $300m for
prescription only products.



Products



BioProgress is also pleased to announce that it is launching a new topical
treatment for the treatment of cellulite. Using natural remedies and caffeine,
the hypoallergenic gel uses BioProgress' patented technology to act as drug
penetration enhancer for molecules across the skin. The market is significant
with over 10% of all women in France using a topical treatment for cellulite and
body toning.



The product has been shown to deliver the active ingredients over twice as
effectively as the leading brand products. The topical treatment will be
marketed as Kudos Anti-cellulite Cream and will form an integral marketing
strategy with the Slimthru brand. The Company's co-promotion partner, Melbrosin
International, will be launching the product within the Austrian and German
markets. The anti-cellulite creams market is worth more than $30m in the UK
alone. The global cosmetics market was valued by Euromonitor at $253.6bn in
2005, up 8.2% on 2004. The technology has a number of other advantages and is
currently being investigated for the area of burns associated with radiotherapy.







Technologies



In parallel with the above significant and exciting developments, the Company is
pleased to announce that its TabWrapTM enabling system, together with its
derivatives EntWrapTM and FastWrapTM, are now in commercial scale-up and
validation. The final system, housed in a fully compliant CGMP facility, will be
shown at the AGM.



The Company is also pleased to announce the successful development of a new
generation of XGELTM films for the TabWrapTM machine. The new generation film is
able to be manufactured at a far higher rate than previously possible enabling
the TabWrapTM system to be run at higher operating speeds. This has resulted in
a significant decrease in the operating costs of the TabWrapTM system making it
more competitive within the marketplace.








Richard Trevillion, Chief Executive Officer, BioProgress said:

"It has been a very exciting and productive year for the Company. The
relationship with Merck-Serono announced today is further validation and a
fantastic endorsement of BioProgress's valuable technology. BioProgress has come
a long way from concept to fully validated commercial products that earn
revenue. The dedicated team at BioProgress has worked extremely hard and can be
proud of its achievements and we look forward to a highly successful year ahead 
and the further enhancement of shareholder value."





Steve Martin, Chief Development Officer, BioProgress, said:

"We are working with more partners than we ever have done in the past across a
range of technologies. Along with our own product development program, we will
see a number of innovative product launches including some significant partner
brands."











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 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 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
END

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