- Completion of key steps in the Company’s development program with Merck Serono on an extended release formulation of Interferon-beta 1-a, which led to last month’s €3 million milestone announcement regarding clinical development; and
- Signing of two further projects: one for Medusa and the other for a Micropump formulation.
Flamel Technologies (Nasdaq:FLML) today announced its financial results for the third quarter of 2010. The Company also announced today that it has achieved a further milestone in its development program with Merck Serono, a division of Merck KGaA, Darmstadt, Germany, for an extended release formulation of interferon-beta 1-a. According to the terms of the original development agreement negotiated in 2007, Flamel will receive € 1 million from Merck Serono. Other recent highlights in the third quarter include: