Flamel says Glaxo's new drug filing triggers $2 million milestone for licensed Micropump technology

By E. Janene Geiss

Philadelphia, Dec. 21 -- Flamel Technologies said Wednesday that its collaborator, GlaxoSmithKline, has submitted a New Drug Application for the controlled release formulation of a currently marketed drug using Flamel's Micropump technology.

Glaxo's filing will result in the payment of a $2 million milestone under a license agreement between the companies, signed in March 2003, according to a company news release.

"The submission of this NDA is an important milestone for Flamel Technologies," Stephen H. Willard, Flamel's chief executive officer, said in the release.

"I believe it is a significant validation of Flamel's Micropump technology platform, as well as confirmation of Flamel's ability to deliver practical success in providing drug-delivery solutions from formulation to NDA filing," Willard said.

Flamel, based in Lyon, France, is a drug-delivery company with two intellectual property platforms, the Micropump for controlled-release of drugs best absorbed in the small intestine and Medusa for controlled-release of proteins and peptides injected subcutaneously.

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