Lyon, France - Octobre 26, 2005 - Flamel Technologies S.A.(NASDAQ: FLML) announced today that GlaxoSmithKline (GSK) has determined that successful Phase III clinical trial results have been obtained on a controlled release formulation of an already-marketed GSK drug using Flamel's Micropump® technology. This determination by GSK will result in the payment of a $2 million milestone under a license agreement between the companies, which was entered into in March of 2003.
"We are pleased with the continued success of our collaboration with GSK and believe that this program will showcase the advantages offered by the Micropump® platform," said Mr. Stephen H. Willard, chief executive officer of Flamel Technologies, S.A.
Flamel Technologies, S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications. Flamel's Medusa® technology is designed to deliver controlled-release formulations of therapeutic proteins and peptides. Micropump® is a controlled release and taste-masking technology for the oral administration of small molecule drugs.
This document contains a number of matters, particularly as related to the status of various research projects and technology platforms, that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The document reflects the current view of management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These risks include risks that products in the development stage may not achieve scientific objectives or milestones or meet stringent regulatory requirements, uncertainties regarding market acceptance of products in development, the impact of competitive products and pricing, and the risks associated with Flamel's reliance on outside parties and key strategic alliances. These and other risks are described more fully in Flamel's Annual Report on the Securities and Exchange Commission Form 20-F for the year ended December 31, 2004.
Contact:
Michel Finance, Chief Financial Officer
Tel: (011) (33) 4-7278- 3434
Fax: (011) (33) 4-7278-3435
E-mail: finance@flamel.com
Or
Charles Marlio, Director of Strategic Planning and Investor Relations
FRANCE (011) 33-4-72-78-34-23
US (1) 202-862-8400
Fax: 202-862-3933
E-mail: marlio@flamel.com
