NEW YORK, Dec. 21 /PRNewswire-FirstCall/ -- Inyx, Inc. , a specialty pharmaceutical company focused on niche drug-delivery technologies and products, announced today that its wholly owned, United Kingdom-based subsidiary, Inyx Pharma Limited, has entered into a strategic collaboration with BioProgress plc , an innovative specialty pharma and healthcare company with U.K. headquarters in Cambridge, England.
Under the collaboration, Inyx will provide assistance to broadly commercialize BioProgress' TABWRAP(TM) technology. TABWRAP(TM) is a patented, high-speed continuous process for delivering tablets or caplets in an ingestible or edible film sheet. It is applicable to a broad range of product applications, including prescription and over-the-counter pharmaceuticals.
Jack Kachkar, M.D., Chairman and CEO of Inyx, Inc., said, "We are pleased that BioProgress has selected to team up with Inyx to assist in the validation requirements and commercialization of its TABWRAP(TM) technology. We look forward to a growing collaboration with BioProgress."
Richard Trevillion, Chief Executive Officer of BioProgress, said, "Inyx has a long history of assisting companies and innovative pharmaceutical technologies with the required regulatory approvals on production processes and controls. We are confident that BioProgress will be able to accelerate its own development plan during 2007 through this strategic alliance with Inyx."
About TABWRAP(TM)
TABWRAP(TM) handles a wide range of tablets sizes and shapes and treats them individually, making it an ideal solution for fragile tablet formulations. TABWRAP(TM) also eliminates the familiar problems of tablet clumping, picking and sticking. TABWRAP(TM) utilizes XGEL(TM) films, the basis of BioProgress' intellectual property and used in its film systems and ingestible dosage-delivery technologies. All film formulations are non-animal derived and tailored to provide specific product release rates or stability requirements. XGEL(TM) films may be opaque, colored, printed, flavored and contain actives and can have a high-gloss appearance. Single or multiple color tablets can be produced economically by simply varying the film properties. TABWRAP(TM) generates a skin-tight coating, which adopts any underlying tablet embossing. A tamper-evident seal is generated that helps protect the tablet core, often improving product stability. TABWRAP(TM) is a dry process, so additional drying operations are unnecessary. Production speeds in excess of 100,000 tablets per hour are possible.
About BioProgress
BioProgress plc is an innovative specialty pharmaceutical and healthcare business based around its enabling drug-delivery technologies in polymer and film systems. Listed on London's AIM in May 2003 and on U.S. 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 U.S. as a launch mechanism for its own pharmaceutical products. The business continues to develop innovative delivery mechanisms using its XGEL(TM) polymer technology, replacing the need to use animal-derived gelatin in pharmaceutical and healthcare products. For more information, visit: www.bioprogress.com.
About Inyx
Inyx, Inc. is a specialty pharmaceutical company with niche drug-delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions. Inyx focuses its expertise on both prescription and over-the-counter pharmaceutical products, and provides specialty pharmaceutical development and production consulting services. In addition, Inyx is developing its own proprietary products. The company's operations are conducted through several wholly owned subsidiaries: Inyx USA Ltd., based in Manati, Puerto Rico; Inyx Pharma Ltd. and Inyx Europe Limited, which owns and operates Ashton Pharmaceuticals Ltd., all near Manchester, England; Inyx Canada, Inc. in Toronto; and Exaeris, Inc., based in Exton, Pennsylvania, which conducts Inyx's marketing and distribution activities. Inyx, Inc.'s corporate offices are in New York City. For more information, visit: www.inyxgroup.com.
Safe Harbor
Statements about the Inyx's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Inyx intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, Inyx's actual results could differ materially from expected results.
For more information, please contact:
For Inyx:
Jay M. Green, Executive VP, 212-838-1111 jgreen@inyxgroup.com
Bill Kelly, VP, Investor Relations, 212-838-1111 bill.kelly@inyxgroup.com
For BioProgress:
Richard Trevillion, CEO
Steve Martin, CDO
Hiral Patel, CFO
011-44-207-098-9881
Buchanan Communications
Rebecca Skye Dietrich/Mark Court
011-44-207-466-5000
Inyx, Inc.
CONTACT: Jay M. Green, Executive VP, +1-212-838-1111, orjgreen@inyxgroup.com, or Bill Kelly, VP, Investor Relations,+1-212-838-1111, or bill.kelly@inyxgroup.com, both of Inyx, Inc., orRichard Trevillion, CEO Steve Martin, CDO, Hiral Patel, CFO,011-44-207-098-9881, all of BioProgress plc, or Rebecca Skye Dietrich/MarkCourt, 011-44-207-466-5000, both of Buchanan Communications