Press Releases
Lyon, France, December 21, 2004 Flamel Technologies (NASDAQ:FLML) announced today that Flamel and Glaxo-Smith Kline ("GSK") have signed an agreement whereby Flamel will supply GSK with commercial supplies of Flamel's Micropump® formulation of a major, currently-marketed, GSK drug. The provisions of the agreement include payments such that Flamel will not have cash outlays in connection with equipment to be used.
Gerard Soula, PhD., founder, president and chief executive officer of Flamel, said, "We are very excited by this move forward on this important project with GSK. We believe an important competitive advantage of Flamel is our ability to produce commercial supply of Micropump® formulations of pharmaceutical products. The new equipment purchased for this project will be installed in the new facility in Pessac we have constructed, as we announced earlier this year."
Flamel's Micropump® technology was licensed to GSK for this drug in March, 2003.
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.
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 2003 Annual Report on Form 20-F and in the company's periodic reports on Form 6-K. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. 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, 2003.
CONTACT: Flamel Technologies, S.A.
Gerard Soula, (33) 4-72-78-34-34 Fax: (33) 4-72-78-34-35 E-Mail: Soula@flamel.com
or Stephen H. Willard, 202-862-3993 Fax: 202-862-3933 E-Mail: Willard@flamel.com
or Charles Marlio, 202-862-8535 Fax: 202-862-3933 E-Mail: Marlio@flamel.com
