Sol-Gel Technologies Ltd. announced today that it has entered into a second development and licensing agreement with a leading U.S. pharmaceutical company for the development and commercialization in the U.S. and Canada of a major dermatologic drug.
Under the terms of the new agreement, Sol-Gel will receive $27 million, comprised of an initial non-refundable payment as well as additional license fees and development payments upon the successful completion of various milestones. The U.S. partner will fund the product's development. Sol-Gel will be entitled to receive royalties from net sales.
The new agreement follows a similar $25 million deal made
Under the terms of the new agreement, Sol-Gel will receive $27 million, comprised of an initial non-refundable payment as well as additional license fees and development payments upon the successful completion of various milestones. The U.S. partner will fund the product's development. Sol-Gel will be entitled to receive royalties from net sales.
The new agreement follows a similar $25 million deal made
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