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 February 2007
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 9 February 2007
BioProgress plc
Completion of licensing agreement with Uluru on novel Oradisc™ product for the treatment of mouth ulcers and mouth pain in Europe
London, UK, 9 February 2007: BioProgress plc ('BioProgress' or the 'Company') (AIM: BPRG; NASDAQ: BPRG), the speciality pharma and
healthcare company, has today announced that it has completed a licensing agreement with Uluru Inc, for a specific product for the
treatment of mouth ulcers using Uluru's Oradisc™ technology.
The product agreement is in addition to the current anti-emetic product already in development between the two parties.
The product is being positioned within BioProgress's strategy of patient supportive care, especially with painful conditions of the
mouth such as that seen when patients are undergoing oncology treatment. The product is expected to be available both as a
prescription medicine and as an Over the Counter medicine. BioProgress will be marketing the product within the European, CIS and
Middle East regions. The product will be applied for market approval within the second half of 2007. The current market in the UK
alone is £28.8m (IRI/PAGB 2005).
It is expected that BioProgress will develop a broad, product-based franchise in the area of sore mouth conditions - a major area of
unmet need. It plans to be the leading dominant player within the EU and Middle East Regions with a focus on using soluble polymer
technology, whether in film or as liquid.
BioProgress will pay an initial milestone payment of $600,000 for the exclusive rights to the product with further milestones based
upon regulatory and sales based milestones.
Steve Martin, Chief Development Officer, BioProgress, said:
"BioProgress is pleased that the relationship with Uluru is delivering products to add to our growing portfolio. It is important that
the Company is able to gain a critical mass within the area of sore mouth conditions, ranging from xerostomia (dry mouth), mucositis
(inflammation of the mucous membranes) to mouth ulcerations. The area has a broad market in that products can be used as prescription
medicines, Over the Counter Medicines and importantly into the dental arena. This also enhances brands such as Collunovar which were
previous purchased within Dexo France.
Having a broad commercialisation strategy enables BioProgress to maximise rapid revenues from the projects. With an enhanced
regulatory team and increases in our operational management we are pleased that such partnerships will enhance the current strategy
of 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
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 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.
ULURU Inc. is an emerging specialty pharmaceutical company focused on the development of a portfolio of wound management, plastic
surgery and oral care products to provide patients and consumers improved clinical outcomes through controlled delivery utilizing its
innovative transmucosal delivery system and Hydrogel Nanoparticle Aggregate technology.
END
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.