SLGL - Sol-Gel Technologies Galderma enter license pact for Epsolay and Twyneo

Sol-Gel Technologies (SLGL) and Galderma has signed two exclusive five-year license agreements for the commercialization of Epsolay and Twyneo in the United States. Under the pact, Galderma has an exclusive license to commercialize Sol-Gel's advanced investigational drug products using Sol-Gel's proprietary micro-encapsulation technology, in each case provided the product is approved by the FDA: Epsolay, under investigation for the treatment of inflammatory lesions of rosacea in adults, with a Prescription Drug User Fee Act, or PDUFA, goal date originally set for April 26; Twyneo is under investigation for the treatment of acne vulgaris with a PDUFA goal date set for August 1. Pursuant to the pact, Sol-Gel is entitled for upfront and approval payments of up to $15M and regulatory approval milestone payments assuming 2021 approval of both products; also eligible to receive tiered double-digit royalties ranging from mid-teen to high-teen percentage of net sales as well as up to $9M

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Sol-Gel Technologies, Galderma enter license pact for Epsolay and Twyneo