Flamel Technologies Announces Results of 2013 Annual Meeting
LYON, FRANCE -- (Marketwired) -- 06/24/13 -- Flamel Technologies
S.A. (NASDAQ: FLML) today announced voting results from the Company's
annual ordinary and extraordinary meeting held on June 20, 2013.
Approximately 98 percent of outstanding shares were represented at
the meeting. The director nominees, Mr. Michael S. Anderson, Dr.
Catherine Brechignac, Mr. Guillaume Cerutti, Dr. Francis J.T. Fildes,
Ambassador Craig Stapleton, Mr. Elie Vannier, and Mr. Stephen H.
Willard were each reelected to Flamel's board of directors for a
further one-year term. Each director received at least 90% of the
votes cast and at the conclusion of the meeting the Board of
Directors reappointed Stephen H. Willard as Chairman.
Each additional resolution proposed favorably by management at the
meeting was approved overwhelmingly.
"We appreciate shareholder support in the election of the Board of
Directors and approval of the proposed resolutions," said Mike
Anderson, Chief Executive Officer of Flamel. "We believe this
reflects shareholders' continued confidence in Flamel's new strategy
to generate revenues from near, medium and long-term product
opportunities. Our July launch of Bloxiverz (neostigmine
methylsulfate) is still on target. This recent approval by the Food
and Drug Administration (FDA) represents an exciting example of a
near-term revenue opportunity that will build value for Flamel's
About Flamel Technologies. Flamel Technologies SA's (NASDAQ: FLML)
business model is to blend high-value internally developed products
with its leading drug delivery capabilities. The Company has a
proprietary pipeline of niche specialty pharmaceutical products,
while its drug delivery platforms are focused on the goal of
developing safer, more efficacious formulations of drugs to address
unmet medical needs. Its partnered pipeline includes biological and
chemical drugs formulated with its Medusa(R) and Micropump(R) (and
its applications to the development of liquid formulations, i.e.
LiquiTime(TM) and of abuse-deterrent formulations Trigger Lock(TM))
proprietary drug delivery platforms. Several Medusa-based products
have been successfully tested in clinical trials. The Company has
and manufactures Micropump-based microparticles
under FDA-audited GMP guidelines. Flamel Technologies has
collaborations with a number of leading pharmaceutical and
biotechnology companies, including GlaxoSmithKline (Coreg CR(R),
carvedilol phosphate). The Company is headquartered in Lyon, France
and has operations in St. Louis, Missouri, USA, and manufacturing
facilities in Pessac, France. Additional information may be found at
This release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995, including certain plans, expectations, goals and projections
regarding financial results, product developments and technology
platforms. All statements that are not clearly historical in nature
are forward-looking, and the words "anticipate," "assume," "believe,"
"expect," "estimate," "plan," "will," "may," and similar expressions
are generally intended to identify forward-looking statements. All
forward-looking statements involve risks, uncertainties and
contingencies, many of which are beyond our control that could cause
actual results to differ materially from those contemplated in such
forward-looking statements. These risks include risks that the
continued integration of Eclat Pharmaceuticals may not be successful
or that certain payment acceleration events may be triggered; the
reacquisition of the exclusive rights to develop and commercialize
IFN-β XL worldwide and identification of an alternative
strategic partner for the program may not be successful; the
identified opportunities will not result in shorter-term, high value
results; clinical trial results may not be positive or our partners
may decide not to move forward; products in the development stage may
not achieve scientific objectives or milestones or meet stringent
regulatory requirements; products in development may not achieve
market acceptance; competitive products and pricing may hinder our
commercial opportunities; we may not be successful in identifying and
pursuing opportunities to develop our own product portfolio using
Flamel's technology; and the risks associated with our reliance on
outside parties and key strategic alliances. These and other risks
are described more fully in Flamel's Annual Report on Form 20-F for
the year ended December 31, 2012 that has been filed with the
Securities and Exchange Commission (SEC). All forward-looking
statements included in this release are based on information
available at the time of the release. We undertake no obligation to
update or alter our forward-looking statements as a result of new
information, future events or otherwise.
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