LYON, France--(BUSINESS WIRE)--Flamel Technologies (Nasdaq:FLML) today announced that it has entered into a collaboration with Merck Serono, a division of Merck KGaA, to investigate the applicability of Flamel’s Medusa® technology for the extended release of a therapeutic protein of Merck Serono’s portfolio. Under the terms of the agreement, Merck Serono will make an upfront payment of EUR 2 million to Flamel for investigating the therapeutic protein and Merck Serono will fund R&D efforts to be performed at Flamel. Financial terms of a license agreement up through potential commercialization of this formulation have been agreed between the parties.
