Foamix Announces OrbiMed’s Support of Merger with Menlo Therapeutics

REHOVOT, Israel, and BRIDGEWATER, N.J., Jan. 17, 2020 (GLOBE NEWSWIRE) -- Foamix Pharmaceuticals Ltd. (Nasdaq: FOMX) (“Foamix” or the “Company”), a specialty pharmaceutical company, announced today that OrbiMed Advisors LLC (“OrbiMed”), a significant shareholder of the Company, intends to vote in favor of the proposed merger with Menlo Therapeutics at the Company’s upcoming extraordinary general meeting of shareholders. OrbiMed expressed its support for the transaction in a press release issued on January 16, 2020. Perceptive Advisors LLC, the Company’s largest shareholder, previously signed a voting agreement on November 10, 2019 to vote its Foamix shares in favor of the merger at the meeting.

“We are delighted to have the support of both OrbiMed and Perceptive Advisors for our transformative transaction with Menlo Therapeutics,” said David Domzalski, Chief Executive Officer of Foamix.  “Having the support of two of our largest shareholders is a significant step toward completing the transaction.”

About Foamix Pharmaceuticals

Foamix is a specialty pharmaceutical company working to solve some of today’s most difficult therapeutic challenges in dermatology and beyond. 

With expertise in topical medicine innovation as a springboard, the Company is working to develop and commercialize solutions that were long thought impossible, including the world’s first topical minocycline, AMZEEQ. Its proprietary Molecule Stabilizing Technology (MST) is utilized in the Company’s dermatology products and in other products currently in development: FMX103 for the potential treatment of moderate to severe papulopustular rosacea and FCD105 for the potential treatment of moderate to severe acne.

Foamix is a different type of specialty pharmaceutical company by design, driven to see the solutions, overcome barriers in all aspects of business, and reimagine what’s possible for conditions with high unmet needs.

Foamix uses its website as a channel to distribute information about Foamix and its product candidates from time to time. Foamix may use its website to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Foamix’s website in addition to following its press releases, filings with the Securities and Exchange Commission, public conference calls, and webcasts. For more information, visit www.foamix.com.