Press Releases
Lyon, France, September 24, 2003 – Flamel Technologies S.A. (NASDAQ:FLML) today filed with the Securities and Exchange Commission a preliminary prospectus supplement to its recently filed shelf registration statement relating to a proposed underwritten offering of 3.8 million ordinary shares in the form of ADSs, consisting of 2,000,000 shares of common stock offered by the Company and 1,800,000 shares by a selling shareholder.
Merrill Lynch & Co. is acting as the lead underwriter in this offering; and UBS Securities LLC, SG Cowen Securities Corporation, Punk Ziegel & Company, Merriman Curhan Ford & Co. and Brean Murray & Co., Inc. are acting as co-managers. The underwriters have an option to purchase an additional 570,000 ordinary shares in the form of ADSs from the selling securityholders within 30 days after the offering to cover overallotments incurred in the offering. When available, a copy of the prospectus and prospectus supplement may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York, New York, 10080.
The registration statement relating to the sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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® nano-particulate technology is designed to deliver therapeutic proteins and peptides. Flamel's Micropump® technology 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 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. Flamel assumes no obligation to update any forward-looking statements.
