Press Releases
Lyon,
France, May 15, 2007 Flamel Technologies
(NASDAQ:FLML) today announced the results of its annual meeting held on May 15, 2007.
The election of each member of the Board of Directors of the Company for a further one-year term was approved by holders of more
than 99% of the Company's shares.
Each additional resolution proposed favorably by management at the meeting was approved by holders
of more than 92% of the Company's shares.
As a consequence, shareholders re-elected Flamel's Board of Directors. "We are pleased to have the strong support of our shareholders," said Mr. Elie Vannier,
non-Executive Chairman of Flamel. "Flamel is well positioned due to the success of COREG CR™,
continued strong interest in the Company's two technology platforms, Micropump® and Medusa®,
and the innovations that our strong team of research scientists are making to build on both platforms."
The Company has 24,005,590 shares issued or outstanding. About Flamel Technologies
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.
Coreg® is a registered trademark of GlaxoSmithKline.
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 document 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.
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, 2006.
Mr. Elie Vannier, the Chief Operating Officer of Grandvision SA, will continue to serve as the Company's non-Executive Chairman.
Also re-elected to the Company's Board of Directors were: Mr. Cor Boonstra, former Chairman and Chief Executive Officer of Philips Electronics NV;
Mr. Lodewijk J.R. deVink, former Chairman and Chief Executive Officer of Warner Lambert; Mr. Frederic Lemoine,
Chairman of the Supervisory Board of AREVA, Mr. John Vogelstein, former Vice Chairman of Warburg Pincus;
and Mr. Stephen H. Willard, Flamel's Chief Executive Officer.
Votes representing 23,905,920 shares, or 99.6% were tendered.
