Potential revenue from the license could total tens of millions of dollar.
Gali Weinreb 14 Jan 07 19:40
Foamix Ltd. has signed a worldwide licensing agreement with dermatology products company Intendis GmbH, a fully owned subsidiary of Bayer Schering Pharma AG, for Foamix’s dermatology foam. The company declined to name the product.
Foamix told “Globes” that the target market was over $1 billion, and potential revenue from the license could total tens of millions of dollars, including the initial payment, payments upon reaching certain milestones, and royalties in the event of success. The product is based on an alcohol-free foam developed by the company.
Foamix was founded with a $5 million investment, and is owned by the company’s entrepreneurs and private investors. The company expects to become profitable this year, and is considering a public offering.
Published by Globes [online], Israel business news - www.globes.co.il - on January 11, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006
Sunday, January 21, 2007
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