The Israeli healthcare start-up will help treat an uncomfortable skin disorder.
Israeli dermatological product start-up Foamix Ltd. has signed another product development agreement, this time with US drug company Ferndale Laboratories Inc. The two companies will jointly develop a non-steroidal foam for the treatment of atopic dermatitis, based one of Ferndale's existing ointments. Atopic dermatitis is a disease that mainly affects mainly children, who find the application of cream on their sensitive skin extremely painful, and would benefit from the ease and comfort of using a foam instead.
Foamix will be responsible for developing the foam formulations and Ferndale will have an option to continue definitive development and worldwide commercialization of the product. Additional terms were not disclosed, although Foamix usually earns a few million dollars as initial payment on contracts like these, with double digit royalties following if and when sales begin.
Published by Globes [online], Israel business news - www.globes-online.com - on November 8, 2007
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