Foamix Signs R&D Collaboration and License Agreement
January 24, 2007
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Foamix Ltd., a developer of topical foam delivery systems for cosmetic uses, announced that it has executed a worldwide license agreement with Dr. Reddy's Laboratories for the development of a novel prescription emollient foam for the treatment of psoriasis. Under the terms of the agreement, Foamix will receive certain development fees and milestone payments. Upon commercialization of the product, Foamix will receive royalty based on net sales.