JPMorgan Wins ADR Mandate For BioProgress

UK-based BioProgress has appointed JPMorgan as depositary bank for its American Depositary Receipt (ADR) programme. The most liquid company listed on the London Stock Exchange’s AIM, BioProgress is a provider of innovative delivery mechanisms for the pharmaceutical oral dosage markets. The company is the first new UK issuer to list ADRs in 2004, having listed on NASDAQ on 20 October. Graham Hind, Chief Executive Officer of BioProgress, said: “JPMorgan is the natural choice as depositary for our ADR listing. We recently signed exciting new business agreements with a number of leading US-based companies and feel that JPMorgan is the best bank to help us take advantage of US interest in our company.” Patrick Colle, global head of ADRs at JPMorgan Institutional Trust Services, said: “We are pleased to have been selected as ADR depositary for BioProgress and look forward to assisting the company in realising its potential in the US equity capital markets.”


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