Full Press Release Details
Flamel Technologies Obtains Rights to
Two Molecules of Trigger Lock Product Line
LYON, FRANCE - May 23, 2013 - Flamel Technologies
(NASDAQ: FLML) today announced that it has exercised its right to regain control of two drugs that use its Trigger Lock
delivery technology that were formerly being developed in partnership with an undisclosed partner. Trigger Lock is Flamel's
proprietary abuse resistant technology for long acting opioid analgesics. Trigger Lock products are designed to be resistant to
abuse by extraction, crushing and snorting, as well as resistant to alcohol-induced dose dumping.
"We are delighted that we have obtained the rights back
to these two molecules using our Trigger Lock drug delivery technology. Under our control, Flamel will be able to advance development
of these products internally or with a new partner," said Mike Anderson, Chief Executive Officer of Flamel.
Flamel intends to provide additional information on the development
progress of each of these products once the company has completed an internal review of the data.
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 and Micropump (and its applications to the development
of liquid formulations, i.e. LiquiTime and of abuse-deterrent formulations Trigger Lock ) proprietary drug delivery
platforms. Several Medusa-based products have been successfully tested in clinical trials. The Company has developed products
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 , 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 www.flamel.com.
This document 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 acquisition of clat Pharmaceuticals may not be successfully integrated or that certain payment acceleration
events may be triggered; the new hospital-based product under FDA review may not be approved or such approval may be delayed; the
reacquisition of the exclusive rights to develop and commercialize IFN- 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.