Foamix develops proprietary foams for drug delivery.
Israeli start-up Foamix Ltd. yesterday signed an agreement with Taro Pharmaceutical Industries Ltd. (Nasdaq: TARO) to develop a treatment for lice. Financial details were not disclosed.
Foamix was founded three years ago. It develops proprietary foams for drug delivery. The non-alcoholic foam is easily absorbed by the skin, making it more effective for drug delivery than creams and gels now on the market.
Under the agreement, Foamix will give Taro its foam-making technology, while Taro will develop and market a new lice treatment based on Foamix’s foam. Taro plans to market the product in Israel and the Palestinian Authority. Finacial detials The new product is scheduled for launch in two years.
The new product will use an anti-lice active pharmaceutical ingredient (API), but the foam is expected to affect its effectiveness on the basis of trials in the US that found that lice develop immunity against the API when used in shampoos, creams or lotions.
Published by Globes [online], Israel business news - www.globes.co.il - on October 17, 2006
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