Key Developments For Flamel Technologies S.A.
Flamel Technologies S.A. (FLML.O) (Consolidated Issue listed on NASDAQ Global Market)
Flamel Technologies S.A. Announces Licensing Agreement With Pfizer
Flamel Technologies S.A. announced that Pfizer 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.
Baxter International Inc. And Flamel Technologies Announce Collaboration To Formulate Longer Acting Forms Of Blood Clotting Factors
Baxter International Inc. and Flamel Technologies, SA announced that they have entered into agreement to formulate controlled release applications of blood clotting factor replacement therapies using Flamel`s Medusa Technology. The work between the two companies will focus on developing longer-acting formulations with the objective of reducing the frequency of infusions required to treat blood clotting disorders in hemophilia. Pursuant to the agreement between the two companies, Flamel will receive technology access fees totaling 2.5 million. Baxter will pay all development costs for the program and have an exclusive right to negotiate a license to the Medusa platform.
Flamel Technologies S.A. Announces Two New Feasibility Agreements
Flamel Technologies S.A. announced that it has entered into two new feasibility agreements to apply its Medusa platform with two additional companies. One program is designed to deliver a controlled release of a marketed hormone; the other is a Medusa formulation of a therapeutic peptide. The Company is currently working on 19 feasibility programs with 15 partner companies. These products are in addition to the new product collaborations announced earlier this week.
Flamel Technologies S.A. To Receive $4 Million Milestone Payment From GlaxoSmithKline PLC
Flamel Technologies S.A. announced that it has earned an additional $4 million milestone from GlaxoSmithKline PLC pursuant to its Micropump license agreement for Coreg CR (carvedilol phosphate extended release capsules).
Flamel Technologies S.A. Announces Merck Serono's Exercise of Option to License Medusa Technology for Development of an Extended-Release Formulation of a Therapeutic Protein
Flamel Technologies S.A. announced that it has entered into a full license agreement with Merck Serono, a division of Merck KGaA, Darmstadt, Germany, to apply Flamel`s Medusa technology for the extended release of an already-marketed therapeutic protein from Merck Serono`s portfolio. Following the promising results generated in the frame of the initial collaboration established between Flamel and Merck Serono in 2007, Merck Serono has made the decision to exercise its option to pursue its partnership with Flamel. Under the terms of the agreement, Merck Serono will make a payment of EUR 5 million to Flamel for the exercise of this option. Flamel will be eligible to receive further payments based on the achievement of certain research and development milestones. Merck Serono will fund all research and development efforts to be performed at Flamel. Other terms of the license agreement were not disclosed.
