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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RBTQrLSefVrPan3PyoJPQ0kzR7HYxNTBmb2pAFZCYzxMyxLz1pWkILCMlbAzcB5W
 VQR6pmHQB0d2fCTNRjOn8w==

<SEC-DOCUMENT>0001209191-03-022029.txt : 20030917
<SEC-HEADER>0001209191-03-022029.hdr.sgml : 20030917
<ACCEPTANCE-DATETIME>20030917190531
ACCESSION NUMBER:		0001209191-03-022029
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030827
FILED AS OF DATE:		20030917

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARDUEL ALIX
		CENTRAL INDEX KEY:			0001198328

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28508
		FILM NUMBER:		03900233

	MAIL ADDRESS:	
		STREET 1:		ONE EMBARCADERO CENTER SUITE 450
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLAMEL TECHNOLOGIES SA
		CENTRAL INDEX KEY:			0001012477
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		PARC CLUB DU MOULIN A VENT
		STREET 2:		33 AVE DU DOCTEUR GEORGES LEVY
		CITY:			VENISSIEUX CED
		STATE:			I0
		ZIP:			69693
		BUSINESS PHONE:		2126641666
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bsf93175_bsf1am.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
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/value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>33386</value></transactionShares><transactionPricePerShare><value>6.48</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>50958</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 2</value><footnoteId id="F2" /></natureOfOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-08-27</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode
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ctionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>885762</value></transactionShares><transactionPricePerShare><value>.002</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-04-05</value></exerciseDate><expirationDate><value>2005-03-01</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>885762</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 1</value></natureOfOwnership></ownershipNature></derivativeTransaction><derivativeTransacti
on><securityTitle><value>Common Stock Warrant (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>6.48</value></conversionOrExercisePrice><transactionDate><value>2003-08-27</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>33386</value></transactionShares><transactionPricePerShare><value>.002</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-04-05</value></exerciseDate><expirationDate><value>2005-03-01</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>33386</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwne
dFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 2</value></natureOfOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>Common Stock Warrant (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>6.48</value></conversionOrExercisePrice><transactionDate><value>2003-08-27</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>505852</value></transactionShares><transactionPricePerShare><value>.002</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-04-05</value></exerciseDate><expirationDate><value>2005-03-01</value></expirationDate><underlying
Security><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>505852</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See Footnote 3</value></natureOfOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Alta BioPharma Partners L.P. ("Alta BioP") exercised its Common Stock Warrants.  Alta Partners directly or indirectly provides investment advisory services to various venture capital funds, including Alta BioP.  The GP of Alta BioP exercises sole voting and investment power with respect to the shares held by the fund.  The principals of Alta Partners are Jean Deleage, Guy Nohra, Garrett Gruener, Daniel Janney and Alix Marduel (collectively known as the "princi
pals").  Certain principals of Alta Partners are managing directors of Alta BioPharm Management Partners, LLC and Alta/Chase Management Partners, LLC (the GP of Alta BioP and the Managing Member of Flamel Chase Partners (Alta Bio), LLC), as managing directors they may be deemed to share voting and investment powers of the shares held by the funds.  These principals disclaim beneficial ownership, except to the extent of their proportionate interests therein.</footnote><footnote id="F2">Alta Embarcadero BioPharma Partners, LLC ("Alta Embarcadero") exercised its Common Stock Warrants.  Alta Partners directly or indirectly provides investment advisory services to various venture capital funds, including Alta Embarcadero.  The members of Alta Embarcadero exercise sole voting and investment power with respect to the shares held by the fund.  The principals of Alta Partners are Jean Deleage, Guy Nohra, Garrett Gruener, Daniel Janney and Alix Marduel (collectively known as the "principals").  Certain principals of A
lta Partners are members of Alta Embarcadero, as members they may be deemed to share voting and investment powers of the shares held by the funds.  These principals disclaim beneficial ownership of all such shares held by the aforementioned funds, except to the extent of their proportionate interests therein.</footnote><footnote id="F3">Flamel Chase Partners (Alta Bio), LLC ("Flamel Chase") exercised its Common Stock Warrants.  Alta Partners directly or indirectly provides investment advisory services to various venture capital funds, including Flamel Chase.  The member of Flamel Chase exercises sole voting and investment power with respect to the shares held by the fund.  The principals of Alta Partners are Jean Deleage, Guy Nohra, Garrett Gruener, Daniel Janney and Alix Marduel (collectively known as the "principals").  Certain principals of Alta Partners are members of Flamel Chase, as members they may be deemed to share voting and investment powers of the shares held by the funds.  These principals discl
aim beneficial ownership of all such shares held by the aforementioned funds, except to the extent of their proportionate interests therein.</footnote></footnotes><ownerSignature><signatureName>/s/ Alix Marduel</signatureName><signatureDate>2003-09-16</signatureDate></ownerSignature></ownershipDocument>

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</SEC-DOCUMENT>
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