Cambridge, UK, Dec. 13, 2004 (PRIMEZONE) --
Press Release 3 November 2004
BioProgress plc
("BioProgress" or "the Company")
Further success for BioProgress in patent entitlement case
BioProgress plc (AIM:BPRG) (Nasdaq:BPRG) announces that in a hearing yesterday in the dispute between BioProgress Technology Limited and Stanelco Fibre Optics Limited ("Stanelco"), the UK Patents Court made further rulings following the previous judgment handed down on 1 October 2004.
The Court made various declarations about which company had invented the process of sealing water-soluble polymeric materials by radio frequency ("RF") welding in order to form capsules. These declarations made reference to BioProgress' sole entitlement to the main claim and all except three subsidiary claims in the Master Patent. The Court also clarified that BioProgress' entitlement to the main patent claims in the Master Patent conferred no right upon Stanelco to use any of the subsidiary processes without the permission of BioProgress.
In its earlier judgment, the Court had held that Stanelco had misused Bioprogress' confidential information by making the patent filings which founded the three families of patents. Yesterday, the Court made an Order for the commencement of the procedure for assessing the amount to be paid in damages by Stanelco to BioProgress for breach of confidence.
Stanelco was ordered to disclose details of its foreign patent applications, so that ownership of all patents and patent applications in the Master Patent family can be dealt with at a further, final hearing in approximately 4-6 weeks time.
The Court also made an order for costs in favour of BioProgress. Stanelco must make an interim payment towards these costs of approximately GBP180,000 within two weeks.
At the end of the hearing, Stanelco indicated that it had commenced an application to request the Court to reconsider certain aspects of the previous judgment. Stanelco was ordered to file its evidence within seven days.
Graham Hind, Chief Executive of BioProgress said: "We are very pleased that the Court has confirmed our entitlement to the main patent claims in the Master Patent and has awarded us interim costs. The Court has made clear directives to Stanelco as to the course of action it must now take. We remain as comfortable as we have always been with our position, and will be making no further comment until the next hearing is concluded."
Forward-Looking Information.
The Ordinary Shares of BioProgress plc are registered under the US Securities and Exchange Act of 1934. This announcement contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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.
Notes to editors:
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 portfolio comprises over 80 patents granted or in application within 24 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.
This information is provided by RNS
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