FERNDALE, Michigan and NESS ZIONA, Israel, June 3 /PRNewswire/ -- Ferndale Laboratories Inc. and Foamix Ltd. announced today that the two companies executed a license agreement for Ferndale to develop and commercialize non-steroidal foam for the treatment of atopic dermatitis and eczema.
The agreement was signed following Foamix's successful development of non-steroidal foam which is designed to help skin barrier properties. Under the terms of the agreement, Foamix will be entitled to receive milestone payments upon achievement of various developments and commercial events and double-digit royalties.
"We are pleased to announce this license agreement with Foamix. Foamix has a proven track record of developing innovative dermatological foams and we are confident that this innovative product is a valuable addition to Ferndale's medications portfolio." said James T. McMillan II, Chief Executive Officer of, Ferndale.
Atopic Dermatitis (AD) is a common chronic inflammatory skin condition, affecting 15-20% of schoolchildren and 2-10% of adults. According to recent surveys, there are 17.8 million patients in the US and 46 million patients worldwide known to be affected. In the majority of patients, the disease begins in early childhood, often in the first year of life, when it can be particularly severe. The skin becomes extremely itchy; scratching leads to redness, swelling, cracking, "weeping" of clear fluid, and finally, crusting and scaling. The prolonged and continuous itching can lead to reduced attention, sustained sleep deprivation and scratching, which impairs the quality of life of the sufferer.
Poor adherence to AD therapy is common, and therefore, foams, which do not require extensive rubbing to achieve the necessary spreading and absorption, offer an improved treatment.
"This agreement with Ferndale further underscores Foamix's ability to convert technology into valuable product opportunities." said Foamix CEO, Dr. Dov Tamarkin. "In addition, this is one more step towards achieving Foamix's mission, improving the quality of patients' lives."
Headquartered in Ness Ziona, Israel, Foamix Ltd. is a specialty pharmaceutical company focused on the development of topical foam products for prescription, OTC and cosmetic applications. Foamix's state-of-the-art foams provide controlled delivery of a variety of active ingredients. Foamix is a privately held company, whose business model is based on partnering with leading pharma companies to develop products utilizing its proprietary foam technologies. We currently collaborate with 10 pharmaceutical companies on 12 projects in the development of proprietary dermatological and gynecologic foam drugs; and we have our own in-house pipeline of dermatological and gynecological drugs in foam presentation.
The company's development capabilities range from initial development of foam formulations to scale-up, GMP manufacturing, preclinical and clinical studies. Foamix holds 4 US patents and has 65 US patents pending, with corresponding national applications worldwide.
For additional information please visit http://www.foamix.co.il
Press inquiries: Sigal Maymon, Foamix Ltd, +972-8-9316233 or [email protected]
Ferndale Laboratories specializes in high-value, brand name products that help relieve discomfort and promote healing for patients who show symptoms of inflammatory and pruritic cutaneous conditions.
The Company is dedicated to discovering, developing and delivering unique, value-added Dermatology therapies that help heal, protect and beautify the skin.
Read more on http://www.ferndalelabs.com.
SOURCE Foamix Ltd