Press Releases
Lyon, France, October 20, 2003 – Flamel Technologies S.A. (NASDAQ:FLML) today announced that the License Agreement with Beecham Pharmaceuticals (Pte) Limited for the sachet formulation of augmentin, incorporating Flamel's Micropump® technology, will be terminated as of January 14, 2004.
"GSK has informed us that they have decided to stop the augmentin sachet project for commercial reasons," said Dr. Gerard Soula, president and chief executive officer of Flamel Technologies, S.A. "There has been no adverse performance of, or other issues with, our Micropump® technology and we continue to actively collaborate with GSK for the development of a once-a-day Coreg® formulation."
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.
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, 2002. Flamel assumes no obligation to update any forward-looking statements. Flamel assumes no obligation to update any forward-looking statements.
