Press Releases
Flamel Technologies Announces Election of New Members of the Board of Directors; Results of Annual Meeting
Lyon, France, June 19, 2003 – Flamel Technologies S.A. (NASDAQ: FLML) today announced the election of three new members of its Board of Directors for the year 2003-2004 and the results of its annual meeting held on June 13, 2003.
The new directors are:
Raul Cesan, who served until 2001 as President and Chief Operating Officer of Schering Plough Corporation, a major worldwide pharmaceutical company. He currently serves on a number of boards of directors including those of First Health Group Corporation, a $2.5 billion provider of health benefits, and The New York Times Company, a media company.
William D. Dearstyne, who served until 2002 as Company Group Chairman of Johnson & Johnson, a major worldwide pharmaceutical company.
Michel Greco, who served until 2003 as directeur general delegue and member of the Board of Directors of Aventis Pasteur, a major French pharmaceutical company.
Also reelected were Jean-Noel Treilles, President of the Ethical division of E.Merck, and former President and Chief Executive Officer of Merck-Lipha France, Gerard Soula, President and CEO of Flamel, and Stephen Willard, Executive Vice President and Chief Financial Officer of the Company.
"We are pleased to to include these three distinguished senior pharmaceutical executives as board members of our company," said Dr. Gerard Soula, President and Chief Executive Officer of Flamel Technologies. "I expect these highly-qualified individuals will help us to build the right strategy to find optimal partners for our two major technologies."
Shareholders present or represented at the meeting hold more than 99% of the issued and outstanding shares of the Company. All resolutions submitted to the shareholders passed with margins in excess of 98%.
Flamel Technologies, S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications. Micropump® is a controlled release and taste-masking technology for the oral administration of small molecule drugs. Flamel's Medusa® technology is designed to deliver controlled-release formulations of therapeutic proteins.
For further information on the Company, please review Flamel's Annual Report on the Securities and Exchange Commission Form 20-F for the year ended December 31, 2002.
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 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, 2001.
