FOAMIX LTD. AND THERAPEUTICS INC. ENTER INTO JOINT VENTURE TO DEVELOP NEW PRESCRIPTION FOAMS FOR INFLAMMATORY SKIN DISEASES - WILL TARGET OVER 20 MILLION PSORIASIS AND ATOPIC DERMATITIS PATIENTS
Rehovot, Israel, and San Diego, CA, March 3, 2010
Foamix Ltd., (Foamix), a leading developer of topical foams for dermatological and gynecological use, and Therapeutics Inc. (TI), an innovative drug development company, announced today a joint venture that will focus on developing new prescription medicated foam formulations and demonstrating their safety and efficacy.
The partnership will accelerate the development of value-added foam formulations for the treatment of common skin inflammation conditions, such as atopic dermatitis and psoriasis, which inflict more than 20 million Americans, as well as seborrheic dermatitis and allergic skin reactions.
"It is with enthusiastic anticipation that we enter into our partnership with Therapeutics Inc, a dynamic company that can move promising topical drugs through preclinical and clinical studies into the marketplace," said Dr. Dov Tamarkin, CEO of Foamix. "What we are creating through this joint venture is a powerful development engine that will leverage our respective expertise and resources to drive new products to market."
"Foamix has a proven track record of successfully marrying their proprietary and unique foam systems with dermatological drugs. Together we will develop unique Rx foams that can be readily applied to the sensitive skin of atopic dermatitis and psoriasis patients. These products will fill an unmet market need for convenient and elegant treatments of inflammatory skin diseases," said Daniel Piacquadio, M.D, President & CEO of Therapeutics Inc, as he announced the joint development agreement.
Foamix Ltd. is a leading developer of topical and mucosal foams for dermatological and gynecological applications. Foamix's state-of-the-art foams provide controlled delivery of a variety of active ingredients. Foamix is currently collaborating with pharmaceutical and cosmetic companies on a range of projects in the development of proprietary dermatological and gynecologic foam products. Additionally, the Company has an in-house pipeline of dermatological and gynecological formulations in foam presentation. Foamix's psoriasis foam product licensed to Dr. Reddy's Laboratories and marketed by Promius Pharma under the trade mark ScyteraTM was launched in the United States in early 2009.
Foamix has nineteen issued patents worldwide covering its foam and OilGel technology platforms and over 150 pending applications of which more than 60 are filed in the United States.
For additional information please visit www.foamix.co.il.
Media contact: Sigal Maymon Tamarkin, Foamix Ltd, +972-8-9316233 or [email protected]
About Therapeutics, Inc:
Therapeutics, Inc. (TI) is a drug development company focused on developing innovative treatments for cutaneous and mucosal diseases. TI provides unwavering service and moves products from concept to the bench top, to proof-of-concept and then, as appropriate, through clinical development with regulatory review and approval. TI evaluates and integrates clinical, regulatory, technology, market and competitive factors to develop best-of-class dermatology solutions.
For additional information please visit www.therapeuticsinc.com
Media contact: Denise Dwyer, Therapeutics, Inc. , +858.571.1800 x106 or [email protected]