BioProgress Technology Appoints Dr. Carey Bottom Non-Executive Director
ATLANTA--(BW HealthWire)--July 27, 2001--BioProgress Technology International, Inc. ("BioProgress" or the "Company") (OTC BB: BPRG) today announced that Dr. Carey Bottom has accepted an invitation to join its Board of Directors with immediate effect.
Dr. Carey Bottom has been President and Chief Executive Officer of PharmaCore, Inc. since October 2000. Prior to this appointment, Dr. Bottom was Chief Operating Officer of LDS Technologies, Inc., a drug delivery company holding a significant proprietary position in microemulsion technology for enhancing the oral absorption of water-soluble drugs with low gastrointestinal permeability. The technology was particularly beneficial for enhancing the oral absorption of peptide actives such as desmopressin. A major drug delivery company acquired LDS Technologies in August, 2000. From 1994 to 1999, Dr. Bottom was Senior Vice President of R&D for Banner Pharmacaps, Inc., a company engaged in the development and manufacture of soft gelatin capsules for the drug and nutritional industries. His responsibilities at Banner included establishing and directing a comprehensive research operation for soft gelatin capsules as well as developing new business for the company. He has also held executive positions covering diverse areas of responsibilities including quality control, regulatory affairs, compliance, and analytical chemistry for Schering-Plough, Chase Pharmaceutical Company, Marion Laboratories and the Drackett Company, a division of Bristol-Myers.
Dr. Bottom obtained his Ph.D. in Chemistry from the University of Missouri-Rolla having also earned his M.S. and B.S. degrees from the same institution. He has authored or co-authored numerous scientific papers or book chapters covering diverse areas such as natural products, carbohydrates, analytical chemistry, dissolution technology, transdermal delivery and pharmacokinetics. In addition, he also holds several patents covering pharmaceutical preparations and household products. In 1998, Dr. Bottom received the FDA Commissioner's Special Citation for his cooperative research efforts with the Agency on gelatin capsule dissolution. This work led to the implementation of a compendial two-tier dissolution testing procedure for gelatin capsules.
"I am very pleased to announce the appointment of Dr. Bottom to the Company's Board of Directors," said Barry J. Muncaster, Chairman and Chief Executive. "Dr. Bottom is held in high regard by his peers across all sectors of the industry. His quite exceptional knowledge and experience of the global encapsulation industry, at senior levels in both technical and commercial disciplines, will prove extremely valuable as the Company proceeds with the introduction of its unique technology to major corporations. We are privileged to welcome him to our team."
About BioProgress
Following four years of research and development, BioProgress is emerging from its developmental stage. The Company is dedicated to commercializing its intellectual property in the field of water-soluble and biodegradable films and processes for their inclusion in high volume mass-market products through its proprietary XGel(TM) Film System. The XGel(TM) Film System is the world's first animal-free soft capsule process. The patented process eliminates the use of gelatin, which is a protein derived from animal renderings. Since the mid-1930s, gelatin has been the only material suitable for encapsulating non-aqueous products such as vitamin oils (dietary supplements), pharmaceuticals and cosmetic oils. The Company believes its XGel(TM) Film System is a revolutionary step in eliminating animal by-products from ingestible products used to deliver pharmaceuticals and dietary supplements, and on a cost-efficient basis compared to traditional methods.
Last year BioProgress executed agreements in respect of a specific application of its XGel(TM) Film System with The Procter & Gamble Company, Brass Eagle, Inc. and announced the sale of the first full XGel(TM) Film System License and XGel(TM) Film System to Peter Black Healthcare, the UK's leading producer of vitamin, herb and mineral supplements. Further, the Company announced it had executed Product Development Agreements with The Boots Company plc and with Nestle. Earlier this year the Company announced it had received orders from two U.S. based pharmaceutical companies for a laboratory scale version of its XGel(TM) Film System. On July 12 this year, the Company announced the sale of an XGel(TM) Film System and ancillary services to Farmasierra S.A., a highly regarded and rapidly expanding pharmaceutical company based in Madrid. The Company continues to work with major international corporations engaged in pharmaceuticals, consumer durables and food products to determine the suitability of the XGel(TM) Film System to replace traditional encapsulation processes and, in some cases, to facilitate new product development not possible with competitive technologies.
BioProgress is a fully reporting company having its ordinary shares quoted on the NASD OTC Bulletin Board (symbol BPRG). The Company's web site can be viewed at www.bioprogress.com
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67 and provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expects," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
CONTACT: BioProgress Technology International, Inc.
Investor inquiries
USA
Larry C. Shattles, 770/649-1133
lcs@bioprogress.com
or
Rest of the World
Barry J. Muncaster, (+44) 1354 655674
bjm@bioprogress.com
or
Media inquiries
USA
Cookerly Public Relations
Neil Hirsch, 404/816-2037
neil@cookerly.com
or
Rest of the World
Sarah Cliss, (+44) 1354 655674
sarahcliss@bioprogress.com
:=) Gary Swancey
