Israel-based dermatology specialist Sol-Gel Technologies Ltd. (NASDAQ: SLGL) has announced the signing of a licensing agreement with Shenzhen Beimei Pharmaceutical Co., Ltd, a China-based partner. According to the agreement, BeiMei will receive commercialization rights for Twyneo (benzoyl peroxide and tretinoin) cream, a treatment for acne vulgaris, in China mainland, Hong Kong, Macau, Taiwan, and Israel.
Under the terms of the deal, Sol-Gel is set to receive upfront and milestone payments totaling USD 10 million, in addition to royalty payments of USD 5 million on future net sales in the licensed territories. BeiMei will take over the responsibility for all future Twyneo trials and regulatory filings. Twyneo has already received approval from the US FDA and is recognized for its high efficacy in treating adolescent acne.- Flcube.com
