Foamix Pharmaceuticals Ltd (FOMX)

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Foamix Announces Settlement of Litigation with Perrigo Relating to Finacea Foam

Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) ("Foamix" or the "Company"), a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical therapies to address unmet needs in dermatology, today announced that, together with LEO Pharma, it has settled the Hatch-Waxman litigation with Perrigo, relating to Finacea(R) Foam. Terms of the settlement are not disclosed.

"Together with LEO Pharma, we are pleased to have settled the outstanding litigation with Perrigo," said David Domzalski, Chief Executive Officer of Foamix. "We will continue to vigorously defend our existing patents and explore opportunities to further expand our intellectual property portfolio around our proprietary foam products and technologies."

Foamix is the owner of patents that have been licensed to LEO Pharma to market Finacea(R) Foam, a topical prescription medicine used to treat the inflammatory papules and pustules of mild to moderate rosacea. Foamix's lead development candidates, FMX101 and FMX103, are based on a different foam technology platform and different patents than those listed in the Orange Book for the foam technology used in Finacea.

As required by law, the parties will submit the settlement agreement to the U.S. Federal Trade Commission and the U.S. Department of Justice for review.

Patent infringement litigations related to Finacea Foam continue against Teva Pharmaceuticals USA, Inc. and Taro Pharmaceuticals U.S.A. and Taro Pharmaceutical Industries, Ltd.