Biome Tech Regulatory News (BIOM)

9 Feb 2006 07:02

Stanelco PLC09 February 2006 9th January 2006 STANELCO PLC ("STANELCO") STANELCO AND BIOPROGRESS SETTLE PATENT DISPUTE Stanelco plc, the radio frequency applications group, and BioProgress plc, arepleased to announce that they have reached a settlement of the legal disputebetween two of their subsidiaries. Stanelco RF Technologies Limited and BioProgress Technology Limited weredisputing entitlement to three families of patents relating to the making ofwater-soluble capsules sealed using radio frequency. Under the main terms of settlement, both parties will be able to commerciallyexploit all three patent families. Stanelco plc have agreed to issue toBioProgress new ordinary 0.1p shares and or cash up to a maximum market value of£1,000,000. Commenting on the settlement, Ian Balchin, Executive Vice Chairman, Stanelcoplc, said: "We are pleased to have resolved this long running dispute withBioProgress. This is a pragmatic solution for both parties and enables us toconcentrate on our respective businesses". - ENDS - For further information, please contact: Ian Balchin, Executive Vice Chairman, Stanelco plc Tel: +44 (0)2380 867 100 Jonathon Brill/Billy Clegg Financial Dynamics Tel: +44 (0)20 7831 3113 ABOUT STANELCO PLC The Stanelco Group of companies (the Group) has brought together expertise inradio frequency (RF) technology, RF applications and biodegradable materialsciences to create a revolutionary range of packaging technologies. Stanelco's philosophy is that new products and processes must offer solutionsand applications which: * give higher added value,* are greener, more environmentally sustainable than those they replace and* have protectable intellectual property rights. Stanelco will develop the products and processes to a demonstration stage andthen work with partners in order to reach the markets; and under thesecircumstances Stanelco will usually seek to license its technology. Stanelcoinvests considerable time and resources in ensuring its technologies areprotected via layers of patents wherever possible. In this way Stanelco believesit can minimise commercial risk and preserve the highest value for shareholders. The products offering the prospect of near term revenue generation are beinggiven priority over the Group's resources. Stanelco was founded in 1953 and is a world leader in the development of radiofrequency technologies for processing polymers for edible and packagingapplications and the design and manufacture of optical fibre technology,induction heating and dielectric welding equipment. Stanelco's currentdevelopments include GREENSEAL Food tray lidding technology, STARPOL (starch /pva blended material), STARPOL 2000 (highly functional, low cost biodegradablepackaging material with food contact approvals) FrogPack high impact low costpackaging format, CradleWrap range of biodegradable air cushion packaging,Soluble tape, 100% water-soluble films and adhesives, Biodegradable Airbag (voidfill) packaging, edible hard-shell capsule technology, water-soluble detergentcapsules, edible sachets and waste packing. GREENSEAL, STARPOL, FrogPack and CradleWrap are all trademarks of the Stanelcoplc group. This information is provided by RNS The company news service from the London Stock Exchange