FOAMIX ENTERS COLLABORATION AGREEMENT FOR PSORIASIS FOAM

Foamix, headquartered in Israel, announced it has entered a worldwide license agreement with Dr. Reddy's Laboratories to develop a 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 royalties based on net sales.

"Foamix has a proven track record for developing innovative dermatological specialty foam products. We are happy to partner with them in developing a novel topical foam product to address the unmet needs of psoriasis patients," Jeffrey Wasserstein, executive vice president of Dr. Reddy's, said.

Foamix develops alcohol-free, stable foam products for prescription, OTC and cosmetic uses. The company has also recently signed an agreement to develop a gynecologic foam in collaboration with Warner Chilcott.