Flamel Technologies Announces Licensing Agreement with Pfizer

LYON, France--(Business Wire)--
Flamel Technologies (Nasdaq:FLML) today announced that Pfizer (NYSE:PFE) has
exercised its option to license Flamel`s Medusa technology for the development
of a controlled release formulation of an already-marketed therapeutic protein.
Flamel will receive a further payment of $1 million pursuant to the exercise of
the license; Pfizer will pay all development costs of the program, including
milestone payments and royalties on any worldwide commercial sales. The program
was begun in 2007 with Wyeth, which was acquired by Pfizer last month. The
program leverages Flamel`s ability to create controlled-release formulations of
therapeutic proteins for intravenous administration.

Stephen H. Willard, Flamel`s chief executive officer, commented, "Pfizer`s
decision to move forward follows a two year evaluation period during which
Flamel has developed and demonstrated an aspect of the Medusa platform which
allows us to work on controlled release formulations of molecules that are
injected intravenously. We believe that this work has the potential to benefit
patients in many ways, not least by lessening the time and costs associated with
frequent hospital visits."

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 proteins, peptides, as
well as other large and small molecules. The Medusa platform is being applied to
improve partners` already-marketed and novel biologics with respect to safety
and efficacy, as well as with better pharmacokinetics. Medusa also offers
important solutions to threshold issues such as aggregation and solubility.

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. 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, 2008.

Flamel Technologies
Charles Marlio, Director of Strategic Planning and Investor Relations
Tel: + (33) (0)4-7278-3434
Fax: + (33) (0)4-7278-3435
Marlio@flamel.com

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