Press Releases
Lyon, France, January 5, 2004 Flamel Technologies (NASDAQ:FLML) announced today today that GlaxoSmithKline and Flamel have determined that Flamel has met the technical success requirements necessary to trigger the payment of a $2 million milestone in respect of the license agreement between the companies for the application of Flamel's Micropump® technology.
"We are pleased with this recent medical success with a formulation for a major in-line product using our Micropump® technology," said Dr. Gerard Soula, president and chief executive officer of Flamel Technologies, S.A. "We are excited to continue our collaboration with GSK.".
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 press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. Among other risks, there can be no guarantee that the product described in this release will receive regulatory approval, or that it will prove to be commercially successful. This and other risk factors are discussed in the company's 2002 Annual Report on Form 10-K and in the company's periodic reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
