Followers of Bioprogress (BPRG) will have had this company brought to their attention this week after a research agreement was announced between them. I think Micap deserves a thread of its own, now that it looks to be signing more and more agreements and its share price has perhaps formed a base.

Floated on AIM a year ago specifically to progress its technique of microencapsulation within yeast cells, of additives, flavourings, fragrances, drugs, biocides, cosmetics, industrial chemicals, etc, etc.

Website is at www.micap.co.uk and is well worth a detailed read, imo.

It has already signed agreements with Swiss firm Firmenich (a world leader in supply of flavourings for savoury snacks and cooked foods), with Fertin (a world leader in the use of chewing gum for delivery of medicines and drugs), with Skyepharma for up to ten pharmaceutical applications, with Bioprogress re smoking cessation products, and today announced it has won a government grant to speed up its work on specialised medical product applications. It's all happening!

Encapsulation within yeast cells allows ingredients and additives to be protected against heat or other damage during high temperature processes, and against premature degradation on the shelf or after containers are opened. It also allows the flavour or medicine or fragrance or whatever to be released at a controllable rate during use or consumption.

Skyepharma has a significant holding.

I understand Shares Mag looked at Micap earlier this year. Anyone see what it said?

Juzzle

From the 17-23 June issue, rated as a hold.

"The micro-encapsulation technology group that
floated on AIM last summer stemmed losses
from 4.22 million to 850,000 in 2004. Turnover
improved to 900,000 from 290,000. During the
period the company secured its first commercial
licensing agreement for savoury flavours with
Firmenich, a flavour and fragrance giant. Micap
also signed a licensing deal with Skyepharma for
10 of its drug candidates. A feasibility study for
AstraZeneca is also underway and Micap is
working with Boots regarding the use of
essential oils in woundcare products.
Unfortunately its agrochemicals product proved
ineffective in crop trials. (PT)
■ Shares says:
Moving from
milestones to royalties
is key.
Normal market size:
5,000
% spread: 8.0
MICAP (AIM:MIC) - 50P /"

Regards

PTH

Looking at the TA I'd say it has formed a bottom - it was also mentioned as a stock to watch in yesterday's Times. We should see it start to tick up in coming days, hopefully set for a rally.

Good potential as Micap has linked itself to Bioprogress and microencapsulation has a huge demand now

Micap sees new business opportunities in agrochemicals
AFX


LONDON (AFX) - Micap PLC, the company specialising in the micro encapsulation of active ingredients within yeast cells, said it sees new business opportunities in agrochemicals, after positive results in a recent study on use of Micap encapsulated fungicides to improve control of fungal damage to cereal crops.

The group, which listed on AIM in August 2003 said that a standard Micap formulation performed well compared to a commercial product for stem based disease control, after it undertook a comparison of the performance of a commercial fungicide formulation with a formulation based on Micap technology.

In addition, in mature plants, when wheat ears were infected, the Micap formulation of the fungicide tebuconazole outperformed the commercial product, resulting in an increased grain yield.

The use of the Micap encapsulation technology for the delivery of fungicides offers the potential to control mycotoxin contamination of grain to below 0.75ppm, the target level currently under review by the European Union, the company said.

'We are delighted at these encouraging study results and look forward to the continued development of fungicidal applications,' said Michael Brennand, chief executive.

Discussions are currently underway with a major multinational to carry out field trials incorporating the Micap formulation of tebuconazole used in the study.

On the upside trend

Let's say one is going to invest in one of these companies - ( 4 have some connection, good or bad)
.............................................................................
1) Stanelco - new packing pushing price up to 15p
2) Bioprogress, very popular, may soon go(?) 80p
3) Micap - yeast-encapsulation technology 30p
4) Skypharma - linked to 10 uses for Micap. tech. 63p
5) Whatman (not connected) just another with some remarkable tech 2.50
/
Obviously one gets different numbers of shares for a given sum, let's say all is going on just one.
#Good, Bad, Indifferent?
I really don't know......but I'd like to have other poster views on this hand.

When is Micap going to shine???

If the sp goes up past 30p I'm investing in what I think is a very under rated company with a very intersting pipeline.
There should be a trading statement in April??
Have a read of the Feb. newsletter on their website.
Well worth a punt IMHO.