Sol-Gel Tech (SLGL) has released an update.
Sol-Gel Technologies has entered into an asset purchase agreement with Beimei Pharma, granting the latter exclusive rights to commercialize acne treatment TWYNEO in China, Hong Kong, Macau, Taiwan, and Israel. Sol-Gel will receive up to $15 million, including $10 million upfront and as regulatory milestones, plus royalty payments on net sales. The deal underscores Sol-Gel’s strategy to expand the global reach of its FDA-approved dermatological products.
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