Sol-Gel Enters Licensing Agreement with Searchlight Pharma to Commercialize Products in Canada
Sol-Gel Technologies (Nasdaq: SLGL) has signed an exclusive license agreement to commercialize TWYNEO and EPSOLAY in the Canadian market.
TWYNEO, for acne, and EPSOLAY, for rosacea, are two innovative, large-market, dermatology products that were developed by Sol-Gel.
Highlights
Searchlight will commercialize the products in Canada over a fifteen-year term that is renewable for subsequent five-year periods.
Under the agreement, Sol-Gel will receive up to $11 million in upfront payments and regulatory and sales milestones for both drugs, combined, plus additional royalties ranging from low double-digits to high-teens.
The non-dilutive capital strengthens Sol-Gel’s balance sheet.
Searchlight Pharma anticipates filing of Canadian regulatory submissions in early 2024 and expects both products to become foundational pieces of its dermatology pipeline and portfolio.
TWYNEO (tretinoin, 0.1%, and benzoyl peroxide, 3%, cream) is used for the treatment of acne vulgaris in adults and pediatric patients 9 years of age and older.
EPSOLAY (benzoyl peroxide, 5%, cream) is used for the treatment of inflammatory lesions of rosacea in adults.
Both products have had encouraging uptake by physicians in the U.S. over the past year.
About Sol-Gel Technologies
Sol-Gel Technologies, Ltd. is a dermatology company focused on identifying, developing and commercializing or partnering drug products for the treatment of skin diseases. Sol-Gel developed TWYNEO which is approved by the FDA for the treatment of acne vulgaris in adults and pediatric patients nine years of age and older; and EPSOLAY, which is approved by the FDA for the treatment of inflammatory lesions of rosacea in adults. Both drugs are exclusively licensed to and commercialized by Galderma in the U.S. The Company’s pipeline includes Orphan Drug candidate SGT-610, under investigation for the prevention of new basal cell carcinomas in Gorlin syndrome patients, and a topical drug candidate SGT-210 under investigation for the treatment of rare skin keratodermas.
