direct/ BioProgress PLC: BioProgress PLC announces Acquisition of Melbrosin
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London, UK, 28 June 2007: BioProgress (AIM: BPRG), the specialty pharma and healthcare company, is pleased to announce that it has entered into an agreement to acquire the Over the Counter (´OTC´) intellectual property (´IP´) and trading assets of the Melmed Group, the holding company for Melbrosin, for a consideration of up to EUR35m (£23.6m). In addition, the Company announces that it has raised approximately £4.9m by way of a placing for cash. The Company also announces its intention to re-brand and change the name of the Company from BioProgress to Meldex Group plc later in the year.
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