Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

Bones Excelent work with the e-mail.

cheers GF.

OH just forgot, watch out for a positive company statement from Bioprogress probably thursday or friday. Remember you saw it here first.

cheers GF.

BioProgress PLC
04 February 2004


Press Release 4 February 2004

BioProgress plc

FMC BioPolymer and BioProgress execute a multi-million dollar
Global Licensing Agreement


BioProgress plc ('BioProgress') (LSE:AIM:BPRG) has executed agreements with FMC
BioPolymer ('FMC'), a business unit of FMC Corporation (NYSE:FMC) whereby FMC
has acquired an exclusive worldwide licence for the BioProgress NROBE(R) dosage
form, process, equipment and enabling technology. FMC will assume full
responsibility for the commercialisation of NROBE(R).

The licensing agreement signed today runs to 2023 and under its terms FMC has
provided contractual assurances that a minimum number of NROBE(R) machines will
be purchased from BioProgress within the first six years following
commercialisation. The sales value of machines during this initial period is
expected to exceed $80 million.

In addition, FMC has contracted to purchase from BioProgress a minimum of 50% of
its global NROBE(R) film requirement for the next three years.

The value of the contract is not entirely quantifiable, as BioProgress' revenues
will depend partly on the usage that FMC's customers make of each machine.
However, it is the expectation of BioProgress that the contracts signed today
are likely to generate a minimum of $160 million of revenue to BioProgress over
the first six years following commercialisation, including machine sales, film
manufacturing contract sales and royalties payable to BPRG on the revenues
generated by FMC from sales of film, whether produced or developed by
BioProgress or by FMC, for use with the NROBE(R) dosage form.

Graham Hind, Chief Executive of BioProgress, said: 'This deal marks a very
significant step in our development and is a deal which we expect will deliver a
significant and increasing revenue stream to BioProgress through to 2023. By
partnering with FMC BioPolymer, we have a global offering with an expert
pharmaceutical supplier. Broad commercial relevance will be demonstrated by the
strength of the NROBE(R) product and the reach of FMC. We believe NROBE(R) can
capture a significant share of the sizeable market for capsules and tablets over
the long-term.

Robin Mitchell, business director of the FMC unit that will focus on NROBE(R)
said, 'We are creating a focused, experienced and highly motivated team to push
this technology forward. We are very excited about the capabilities of NROBE(R)
and its future role in oral pharmaceutical dosage forms and I am confident that
we have the means to succeed. It is vital, however, that all aspects of our
business model meet the expectations of prospective pharmaceutical customers.
This includes the soundness of the base technology, the highest possible
standards for supply of equipment, film and other materials, through to service
and support.'

David Simcox, General Manager of FMC's Pharmaceutical and Personal Care
business, said: 'As a new dosage form concept, we believe that NROBE(R) has the
potential to deliver benefits in the form of consumer product appeal and product
differentiation, manufacturing process efficiencies, and simpler and more rapid
product development. NROBE(R) may also improve the oral delivery of certain
activities.

'This is a further demonstration of FMC's commitment to a strategy of growth
through the effective combination of internal and external expertise and
technologies. FMC BioPolymer has expertise and resources that will help bring
NROBE(R) to market efficiently with a robust commercial model. Our proprietary
biopolymer technologies are a great complement to the NROBE(R) system that
BioProgress has developed.'

- Ends -

For further information:
BioProgress plc
Graham Hind, Chief Executive Tel: +44 (0) 1354 655 674
grahamhind@bioprogress.com www.bioprogress.com
Media enquiries:
Bankside for BioProgress
Heather Salmond / Julian Bosdet Tel: +44 (0) 20 7444 4140
heather.salmond@bankside.com www.bankside.com
Plug for FMC BioPolymer
Toby Luther Tel: + 1 212 233 6578
tluther@plug.co.uk www.plug.co.uk

Notes to editors:

BioProgress plc

BioProgress listed on AIM in May 2003 and is engaged in the research,
development, and design of patented encapsulation systems that use water soluble
and biodegradable films for the dietary supplement, pharmaceutical and other
sectors. The Company's patent portfolio comprises over sixty patents within
sixteen patent families and has product development agreements and strategic
alliances with several global companies. BioProgress aims to provide a cost
effective and animal-free encapsulation process for pharmaceutical drugs in
liquids, tablets and powders, thereby addressing the needs of the entire market
for oral dosage forms while providing novel delivery mechanisms not possible
with traditional processes.

The Company has also developed patented and licensed the world's first flushable
ostomy pouch that offers a newly enhanced quality of life not previously
possible for the end user. Market research shows the global ostomy market to be
worth $1 billion annually. The Company's business model provides it with
several significant revenue streams including sales of encapsulating machines
and film, plus licence and fees for research development services.


FMC Corporation

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 5,300
people throughout the world. The company divides its businesses into three
segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.


This information is provided by RNS
The company news service from the London Stock Exchange

One day earlier than your forecast GF, you're slipping. :-)

.

Yup pae, think its because Im getting older. Fantastic deal though. Just look at those revenues over the first three and six years. Cracking deal.

cheers GF.

Goldfinger
Is the FMC contract the 'major US pharmacutical company' you refered to in previous posts? Or is there more good news to come?

FMC is a worldwide exclusive deal for the NRobe technology, one of four technologies that BPRG is developing under the X-Gel heading. The unnamed US top ten pharma company deal is for rights to (possibly) TABWRAP (or another of the four technologies) but this covers only the US and some other territory (need to check RNS). That deal also entails the building of a film plant in the USA.

BPRG already have the deal with Harro Hoefliger to build and maintain all the required machines.

BPRG also already have a deal with Bristol Myers Squibb (Convatec) regarding the production of flushable ostomy pouches.

All these deals are coming on stream and there are plenty left to do. All will generate royalties as production etc is signed over to the big partners they do the deals with. Sounds like ARM holdings to me (in its early days)! Also based in Cambridge!!

Bones
Many thanks for your info. I think I will hold.

geoffcow:

http://www.citywire.co.uk/partners/default.asp?vid=62507&PageNumber=1

More big contract news to come with a US company. To sell now would be silly.

cheers GF.

-> BONES

"The Letter of Intent provides that the US company will purchase an exclusive
license for one of the BioProgress XGEL(R) dosage forms in a specific market
sector and for the geographic areas of North America and the European Union."

The agreement also includes setting up a film manufacturing plant in the US, which will supply film to other US customers using the other usage forms.

It was "anticipated that a formal agreement will be completed on or before January 31st 2004", so it's now past its Sell By. Word on the street is that it's expected *very* soon and may dwarf the FMC deal....

Oh boy.....But hey, what a day today!

http://www.uk-wire.com/cgi-bin/articles/200311240835023956S.html

Thanks publess. If they follow up with this next deal quickly, there could be a stampede for shares. Of course, the hard work of getting the lines up and running and producing film en masse needs to be well-managed but there's no doubt this is a case of years of R&D suddenly blooming into real commerce very quickly.

Don't forget that BPRG floated on AIM last May at 16p. Before that you could only trade them on the OTC Nasdaq bulletin board and they changed hands back in 2000 at $6 (4+) on the potential which is now so much nearer.

Latest Lemming investor piece on BPRG.

I bought more today

:-)http://www.lemminginvestor.com/BPRGfmc.html

THE OTHER BIG DEAL I WAS TALKING ABOUT.

Bioprogress rockets on FMC licensing deal

Published: 12:41 Wed 4 Feb 2004
By Algernon Craig Hall, Secret Buying Correspondent
Email to a friend

Bioprogress's shares have leaped on news that it has finally concluded a licensing deal with FMC BioPolymer, which is expected to be worth at least $160 million (87 million) over the next six years.

FMC has acquired an exclusive worldwide licence until 2023 for Bioprogress's (BPRG) NROBE drug casing technology.


Bioprogress's chief executive Graham Hind said: 'This deal marks a very significant step in our development and is a deal which we expect will deliver a significant and increasing revenue stream to Bioprogress through to 2023.'


In the first six years following the commercialisation of Bioprogress's NROBE machine FMC has given assurances to buy a minimum number of the machines and is expected to spend at least $80 million.


FMC has also contracted to buy at least half of its NROBE film supplies from Bioprogress during the first three years.


The total value of the deal will depend on how much demand FMC receives for the NROBE casing but Bioprogress expects it to bring in at least $160 million in machine and film sales plus royalty payments.


Hind told Citywire the financial benefit from deal should really begin to come through in 2005. He also believes clinical trial work by a big pharma interested in using NROBE should set up excellent barriers to entry that will act as a barrier to competition.


Bioprogress announced it had a letter of intent from FMC to licence its NROBE technology last October. This was followed in December by a 7.3 million fund raising at 50p to finance the development of a film manufacturing facility.


The first NROBE machine is expected to be delivered in April and the film facility should be in production by the end of the year.


Bioprogress has three other casing technologies in development which it is also working on deals for and it has invented a flushable colostomy bag which it hopes will be ready to launch by the end of the year.


The market is clearly excited, and there is even talk among traders of another licensing deal in the very near future.(nb, did say there was one).
Bioprogress's shares have leaped 19p to 106p this morning.ENDS.

Like I said theres another potential massive deal just around the corner.

cheers GF.

stupid to sell it could be out anytime.

GF - that shows how lazy the journalists are! The other deal that is the subject of this "talk" has been old news for about 3 months since BPRG stated in an RNS that they are hoping to conclude an agreement covering USA and EU by 31 January!!!!

This is why so many people are in this stock at 40p - 50p........

Bones thanks for that clarification, cheers GF.

Nice to see a new closing high at the end of the week (109.5p). Bodes well for next week.

Interesting article from lowpeg from rival bb,


Thought Id post my thoughts on where Bioprogress currently is for people who dont already know all the technologies involved and give people an idea of the sheer scope of Bioprogress. I know many of you have been here for centuries but some i'm sure are BPRG virgins. ;-)


You may want to refer here http://www.bioprogress.com/html/products/products.html to refresh yourself on the different technologies.

The FMC deal is a worldwide licence for the NROBE technology, some could argue now that the current share price reflects this technology (NROBE) and the ongoing existing Ostomy deal with Bristol Myers Squibb products out 2nd half 2004. My feeling is that the figures stated in the FMC deal are very conservative for safety of promising too much and FMC will be exploiting its Licence for maximum profitability which also happens to maximise royalty payments for Bioprogress. I'm sure FMC are aiming for 3 or more times these estimates so I think there is scope for more price rises based solely on these two current deals
.
OK so that deals with 2 of Bioprogress's technologies, the good news is that there are still 4 more current technologies available for license. The next in line is TABWRAP technology. This technology has been associated with the expected deal with the unnamed Global OTC (over the counter) Pharma mentioned in letter of intent 24-11-03. The expected deal is for a European and North American License for the OTC segment of the market. This leaves licences available for OTC segment in rest of the world and prescription segment still available all over the world, so huge scope there for more royalties.

Next technology is SEPTUM where Graham Hind (CEO) has been quoted as saying SEPTUM is the real jewel of all the technologies. No deals to date have been made for this technology.

There is also the SWALLOW Technology which has no deals yet signed and is the technology in patent entitlement dispute with Stanelco plc. I fully expect Bioprogress to win the legal action but no-one really knows, so to be safe lets put licensing for SWALLOW on the back burner.

Last is Non Ingestible as in uses for cosmetics, toiletries, household products, garden chemicals and recreational paintballs. No deals have yet been signed for this technology.

Oh yes and all the technologies use X GEL which Bioprogress will produce at its Film plant in March, Cambridgeshire. Other film plants are to be built in other countries under licence agreements from Bioprogress who will receive royalties on all production.

Then there are new technologies which no body knows about but hey, they are a research and development company and I bet they use X Gel.

The technologies currently ready for licensing and production.
1st - Medical (Ostomy)
2nd - NROBE,
3rd - TABWRAP,
These technologies are officially (as in no news released stating otherwise) still in development.
4th SEPTUM,
5th SWALLOW.
6th Non Ingestible

My opinion of how valuable each technology is for Bioprogress, no 1 having the most potential.
1 SEPTUM
2 TABWRAP
3 NROBE
4 Medical (Ostomy)
5 SWALLOW
6 Non Ingestible

The fact that only one licence to date has been signed for only one of their technologies in my opinion does not reflect badly on BPRG. They are only now just emerging from final development stages with their technologies and I am confident licences will be snapped up as and when they become available.

The fact that FMC have finally committed to BPRGs technology shows their view that BPRG have world class products not to mention Harro Hoefliger giving it the thumbs up.

The scope for licence royalties coming in from many world class Pharma companies operating in various market segments and in various geographical areas is huge. The Prophets comments earlier, on future share price values, may not be far off. That said the numerous licensing opportunities and sheer scale of dealing with many different companies hammering out the best deal represents a lot of hard graft for Bioprogress management and staff not to mention keeping research and development of new technologies at the forefront. This will obviously take time and wont happen overnight.


What I am trying to say is that we aren't in outer space yet, we're just taxiing down the runway ready for take off (obviously in a spacefaring flying machine thingy)

Obviously this is all in my opinion but the assumption I have made are certainly not pie in the sky hopes and dreams.

'You've got to be in it to win it' :@ )

Interesting days and weeks and months and years ahead.

Can only help, people refer to RNS what does this actually stand for, I am fairly new to investing and it seems to be linked to news... Dont want to create new thread just for this, can anyone help?