Flamel Technologies I
In December 2011, Deerfield made an equity investment in Flamel Technologies, a public company that owns several promising drug delivery technologies. At the time, the company’s largest holder, which had waged a successful proxy battle and influenced the selection of a significant portion of the company’s Board, was threatening to put its shares on the market.
Along with our purchase, we made a 13D filing which stated that we were not looking to take a hostile stance towards this company, but sought to work with it constructively. The company subsequently made a friendly acquisition of Éclat Pharmaceuticals and simultaneously named Mike Anderson as the new CEO of Flamel.