Press Releases
Lyon, France, November 10, 2003 Flamel Technologies (NASDAQ:FLML) announced today the results of its extraordinary meeting of shareholders held on November 7, 2003. All management-recommended proposals, including those granting warrants to the recently elected independent directors of Flamel, were approved with the support of approximately 90% or more of those voting.
Dr. Gerard Soula, president and chief executive of Flamel Technologies, S.A. said: "We are pleased that our shareholders gave their support to the addition of our three new and distinguished members of the Board of Directors. Flamel Technologies is committed to maintaining good corporate governance, through the independent directors who constitute a majority of our board. The addition of Raul Cesan, formerly of Schering-Plough, William Dearstyne, formerly of Johnson & Johnson, and Michel Greco, formerly of Aventis-Pasteur, who join Jean-Noel Treilles, formerly of Lipha, expands the wealth of pharmaceutical expertise on which we can draw and strengthen the Company as we go forward."
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, 2002.
