Press Releases
FLAMEL TECHNOLOGIES REPORTS FIRST PRODUCT
LAUNCH
-- Corning
Successfully Test Markets in Puerto Rico --
LYON, FRANCE, October 11, 1999 -- Flamel Technologies S.A. (Nasdaq: FLML) is pleased to announce Corning Incorporated (NYSE: GLW) has successfully test marketed a new, high-performance plastic photochromic eyeglass lens developed in collaboration with Flamel. The product is now available in Puerto Rico, and Corning is finalizing its plans to extend product availability throughout the United States.
"We are very excited about this milestone in Flamel’s history," stated Dr. Gerard Soula, President and Chief Executive Officer of Flamel Technologies. "This is the first launch of an innovative product incorporating technology developed by Flamel. Initial acceptance of the product by the manufacturer, distributors, and consumers indicate that this may be an important new product for Corning and its partners."
Corning and Flamel Technologies have been working together since 1994. In January 1999, the two companies announced a long-term research and development agreement that expanded earlier contract research agreements.
Flamel Technologies is engaged in the development of advanced polymer technologies for unique life science applications. To meet important medical needs and develop commercially valuable products, the Company is building on its principal technology platforms: the controlled release of therapeutic drugs and proteins with its Micropump® and Medusa® systems; the efficient delivery of agrochemical active ingredients with its Agsome™ system; ColCys™ biomaterial-based medical devices; and photochromic materials for eyeglass lenses.
Corning is the original inventor of the photochromic eyeglass concept and is well positioned in several growing segments of the global prescription eyeglass industry. With the introduction of this new material, Corning will be able to offer the broadest choice of superior photochromic products to customers everywhere. Established in 1851, Corning Incorporated creates leading-edge technologies for the fastest-growing segments of the world’s economy. Corning manufactures optical fiber, cable and components, high-performance glass and components for television, and other electronic displays for communications and communications-related industries. Corning also manufactures advanced materials for scientific and environmental markets. Corning's total revenues in 1998 were $3.5 billion.
Agsome™, Basulin™ and ColCys™ are trademarks, and Micropump® and Medusa® are registered trademarks of Flamel Technologies.
NOTE: 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 presentation reflects the current views of Flamel’s 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 Securities and Exchange Commission Form 20-F for the year ended December 31, 1998.
