UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934
For the Month of January
Commission File Number 000-50994
BioProgress PLC
(Translation of registrant’s name into English)
15-17 Cambridge Science Park
Milton Road, Cambridge CB4 0FQ
United Kingdom
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):N/A
.
For Immediate Release
29 January 2007
BioProgress plc and FMC Corporation Complete NRobe™ Oral Dose System Restructuring Agreement
29 January 2007: BioProgress plc ('BioProgress') (AIM: BPRG; NASDAQ: BPRG), the speciality pharma and healthcare company, and Magenta
Oral Dose Design a business unit of FMC Corporation ('FMC') (NSYE: FMC) are pleased to confirm the finalisation of the restructuring
agreements regarding the licensing of NRobe™ technology.
BioProgress and FMC have agreed to restructure their licensing partnership more accurately to reflect the intended market strategy
for the NRobe™ technology and to accelerate its commercialization.
Under the restructured arrangements BioProgress, the licensor of NRobe™, will receive enhanced royalties based upon total NRobe™
income generated by FMC. FMC retains the exclusive rights to NRobe™ and will be responsible for the continuing development,
commercialization and promotion of this novel oral drug delivery system.
Under separate agreements, BioProgress and FMC will collaborate to endorse the technology in certain pharmaceutical products to be
licensed for sale through BioProgress' sales and marketing division Dexo.
NRobe™ is a solid oral dose system capable of enrobing a variety of powders and particulates within dry polymer films to produce an
elegant dose form comparable in appearance to film-coated or gel-dipped tablets, or two-piece hard capsules. This versatile system
can deliver benefits such as unique appearance, improved drug release, simplified formulation and processing, and the avoidance of
problematic excipients. Development efforts are currently focused on proprietary product applications, commercial scale manufacturing
equipment, and novel polymer films. FMC has demonstration NRobe™ units in the US and Europe.
Richard Trevillion, Chief Executive Officer, BioProgress, said:
"We are pleased to confirm the restructuring agreement with FMC in a spirit of mutual cooperation. It is clear we share a vision of
NRobe™ as an enabling technology for pharmaceuticals that addresses large market needs. We look forward to our continued partnership
and close working relationship with FMC."
Robin Mitchell, Director of Magenta Oral Dose Design, said:
"Our collaboration with BioProgress over the past few years has yielded positive results for NRobe™ in terms of technical milestones
achieved and interest from the pharmaceutical industry. This restructuring benefits both companies and paves the way for the next
phase of commercialization of NRobe™ as a high value oral drug delivery platform."
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
FMC, Magenta Oral Dose Design +1 215 299 5936
Robin Mitchell, Business Unit Director
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.
About FMC
Magenta Oral Dose Design is part of Healthcare Ventures, a growth unit leveragaging FMC's core expertise in marine-derived
biopolymers and pharmaceutical applications.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a
century with innovative solutions, applications and quality products. The company employs over 5,000 people throughout the world. The
company operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more
information please go to www.fmc.com
Safe Harbor Statement under the Private Securities Act of 1995
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning
specific factors described in FMC Corporation's 2005 Form 10-K and other SEC filings. Such information contained herein represents
management's best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update
this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future
performance.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.