Flamel Technologies Achieves Clinical Milestone with Merck Serono on an Extended Release Formulation of Interferon beta-1a

LYON, France--(BUSINESS WIRE)--Flamel Technologies (Nasdaq: FLML) announced today that it has achieved a clinical development milestone under the terms of its license agreement with Merck Serono, a division of Merck KGaA, Darmstadt, Germany, to develop an extended release formulation of interferon beta-1a using the Medusa platform. As a result, Flamel will receive a fee of € 3.0 million. Flamel and Merck Serono entered in a collaboration agreement in December 2007 to develop an extended release formulation of interferon-beta-1a.

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