Flamel secures $4M from Glaxo for cardiovascular product line

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Flamel Technologies has earned an additional $4 million milestone from GlaxoSmithKline (GSK) pursuant to its Micropump license agreement for Coreg CR (carvedilol phosphate extended release capsules).

The Lyon, France-based Flamel said its Coreg CR was launched by the London-based GSK in 2007 and is indicated for use in treating three cardiovascular conditions:

  • Hypertension;
  • Post-MI left ventricular dysfunction; and
  • Mild to severe heart failure.

The company said its Coreg CR microparticles are produced by Flamel Technologies at its production facility in Pessac, France, using its Micropump technology platform,

"Flamel is engaged in 18 feasibility study programs with seven of the top twenty pharmaceutical companies," said Stephen H. Willard, Flamel's CEO.