Mike Anderson had been in the pharmaceutical business for over 40 years. He had many novel product development ideas and wanted to start his own company to pursue them. Deerfield bought into Mike’s vision and together we formed Éclat Pharmaceuticals. Deerfield provided 100% of the funding, market research on product development and acquisition candidates and was actively involved in strategic decision making. Approximately eighteen months after forming Éclat, Deerfield and Mike Anderson identified an opportunity to create something even grander by combining Éclat with
Flamel Technologies, a much larger public company. Flamel brought unique technologies that could enhance the realization of Éclat’s development ideas, while Mike Anderson offered leadership that could enable Flamel to transition from a development company to a fully integrated pharmaceutical company more quickly and in a more sophisticated fashion. To facilitate this combination, Deerfield took a stake in Flamel and negotiated a purchase of Éclat by Flamel that resulted in Mike Anderson becoming the Chief Executive Officer of the combined entities.