Sol-Gel and Beimei Pharma Announce an Asset Purchase Agreement to Commercialize TWYNEO in the Mainland of China, Hong Kong, Macau, Taiwan and Israel

Sol-Gel to receive a total consideration of up to US$15 million, out of which US$10 million will be paid as upfront and regulatory milestones

NESS ZIONA, Israel, May 16, 2024 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a dermatology company, pioneering treatments for patients with severe skin conditions, conducting a Phase 3 clinical trial of SGT-610 (patidegib gel, 2%) for Gorlin syndrome, and with two approved large-category dermatology products, TWYNEO and EPSOLAY, today announced that it has signed an asset purchase agreement with Chinese based Shenzhen Beimei Pharmaceutical Co. Ltd, for the commercialization of TWYNEO, for the treatment of acne vulgaris, in the mainland of China, Hong Kong, Macau, Taiwan and Israel.

Under the terms of the agreement, Beimei purchases and licenses rights to exclusively commercialize TWYNEO in these territories. In return, Sol-Gel will receive, subject to applicable government approvals, upfront and milestone payments of US$10 million and up to US$5 million as royalty payments on net sales.

“This agreement demonstrates the potential of TWYNEO outside of the U.S., and we expect to announce other agreements regarding the commercialization of both our FDA-approved assets, TWYNEO and EPSOLAY, in other territories,” said Alon Seri-Levy, Ph.D., Chief Executive Officer of Sol-Gel.

"The clinical need in the acne market remains unmet for a long time in China, especially for adolescents. TWYNEO as an innovative combination formulation approved by the U.S. FDA, and its efficacy in treating acne has been proven by clinical trials. Beimei Pharma will perform the registration and commercialization process of TWYNEO in its territories to bring a new treatment to the vast population of acne patients. I believe this deal encourages Beimei Pharma to deeper cultivate our pediatric pipeline layout in the field of dermatology, leading Beimei Pharma into a new stage,” said Ms. Wu Guangmei, founder and CEO of Beimei Pharma.

About TWYNEO—TWYNEO is the first and only U.S. FDA-approved fixed-dose combination of tretinoin and benzoyl peroxide cream for the treatment of acne vulgaris in adults and pediatric patients nine years of age and older.

About Sol-Gel Technologies
Sol-Gel Technologies, Ltd. is a dermatology company focused on identifying, developing, and commercializing or partnering drug products to treat 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 US; and are exclusively licensed to Searchlight in Canada. TWYNEO was purchased and licensed by Beimei Pharma to be exclusively commercialized by them in the mainland of China, Hong Kong, Macau, Taiwan and Israel.