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BioProgress appoints new Finance Director Cambridge, UK, 15 June 2006 - BioProgress plc (“BioProgress” or the “Company”) (AIM: BPRG; NASDAQ: BPRG), the speciality pharma and healthcare company, today announces the appointment of Peter Keen as the Group's new Finance Director with effect from the 3rd July. A chartered accountant, Peter Keen has been involved in the management and financing of life science companies for over 21 years. He was a co-founder, Finance Director and Company Secretary of Chiroscience Group plc, taking the company public in 1994. He joins BioProgress from Arakis Limited, where he was Chief Financial Officer until its sale to the Japanese company Sosei; prior to that he was UK Managing Director of Merlin Biosciences Limited. Peter is currently a Non-executive Director of Abcam plc, Ark Therapeutics Group plc and the Finsbury Emerging Biotechnology Trust plc (“FEBT”), at Abcam and FEBT he is also Chairman of the audit committee. Commenting on his new role, Peter Keen said: “I am delighted to be joining BioProgress at such an exciting stage of its evolution into a fully-integrated specialty pharmaceutical company. The Company’s technology has broad applicability, particularly in the generic pharmaceutical market by differentiating products that address patient need, and is a platform for commercial success. As we are still at the beginning of the Company’s transformation, there remains much to be done. I am looking forward to playing my part in building a reinvigorated, profitable and sustainable business.” Commenting on the appointment, Richard Trevillion, Chief Executive Officer of BioProgress said: “I am delighted that Peter has joined our board and look forward to working with him again. Peter brings to the Company a wealth of knowledge and experience of the life sciences industry, and this will be invaluable in the continuing development of BioProgress.” In the past five years Peter Keen has held directorships with Amedis Pharmaceuticals Limited, Arakis Limited, Biovex Limited, Cyclacel Limited, Intercytex Limited, LiDCO Limited, Merlin Biosciences Limited, Merlin Ventures Limited, Microscience Limited, PanTherix Limited, ReNeuron Holdings plc, Spectrum (General Partner) Limited, Vectura Limited and Vision Homes Limited. No further disclosures are required to be made in relation to Peter Keen under Schedule Two paragraph (f) of the AIM Rules. For further information contact:
About BioProgress plc: 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. -ENDS- |
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