Press Releases
Lyon, France, August 4, 2003 – Flamel Technologies (Nasdaq:FLML) announced today the results of its extraordinary meeting of shareholders held on July 31, 2003.
The management-recommended resolutions before the meeting, which was called to authorize the sale of up to 2 million shares of common stock of the Company at the discretion of the Company's Board of Directors during the period from such approval until June 2004, received the support of shareholders holding more than 99% of the authorized and issued shares of the Company.
Dr. Gerard Soula, president and chief executive officer of Flamel, commented: "We are pleased and gratified to have the support of our shareholders in this initiative."
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 technology for the oral administration of small molecule drugs. Flamel’s Medusa® nano-encapsulation technology is designed to deliver therapeutic proteins. Flamel’s expertise in polymer science has also been instrumental in the development of a photochromic eyeglass lens product now marketed by Corning Inc.
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, 2002.
