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Sol-Gel Technologies (NASDAQ: SLGL) has entered into a significant asset purchase agreement with Shenzhen Beimei Pharmaceutical Co. to commercialize TWYNEO® for acne vulgaris in mainland China, Hong Kong, Macau, Taiwan, and Israel.
Sol-Gel will receive up to $15 million, including $10 million in upfront and regulatory milestone payments, with the remaining $5 million as royalties on net sales. This agreement enhances the potential reach of TWYNEO beyond the U.S. market.
Beimei will handle the registration and commercialization of TWYNEO in these regions. This strategic move aims to address the unmet clinical need in the acne market, particularly among adolescents in China.