Business
Journey Medical Corporation Acquires Two FDA-Approved Topical Minocycline Products and Molecule Stabilizing Technology (MST)™ Franchise from VYNE Therapeutics, Inc.
Franchise includes AMZEEQ® for the treatment of acne and ZILXI® for the treatment of rosacea, and a development-stage dermatology program (FCD105) along with
About this update from Journey Medical Corporation
[{"type":"text","content":"Franchise includes AMZEEQ® for the treatment of acne and ZILXI® for the treatment of rosacea, and a development-stage dermatology program (FCD105) along with the MST proprietary platform Acquisition expands Journey Medical’s portfolio to nine marketed dermatology products East West Bank Credit agreement expanded to $30.0 million SCOTTSDALE, Ariz., Jan. 13, 2022 (GLOBE NEWSWIRE) -- Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical”), a commercial-stage pharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions, today announced that the company entered into a definitive agreement with VYNE Therapeutics, Inc. (“VYNE”) to acquire its Molecule Stabilizing Technology (“MST”)™ franchise for an upfront payment of $20.0 million and an additional $5.0 million on the one (1)-year anniversary of the closing. The agreement also provides for contingent net sales milestone payments. The first year that annual net sales reach each of $100 million, $200 million, $300 million, $400 million and $500 million, a one-time payment of $10 million, $20 million, $30 million, $40 million and $50 million, respectively, will be paid in that year only, per product, totaling up to $450.0 million. The franchise includes two FDA-approved products (AMZEEQ® and ZILXI®), and a development-stage dermatology program (FCD105) along with the MST proprietary platform. The transaction closed simultaneously with signing. These proprietary foam-based products optimize the topical delivery of minocycline, an active pharmaceutical ingredient that was previously available only in oral form. Approved by the U.S. Food and Drug Administration (“FDA”) nearly 50 years ago, minocycline is a well-established molecule that has been prescribed, in oral formulation, over 30 million times in the past decade. AMZEEQ (minocycline) topical foam, 4%, is the first and only topical formulation of minocycline to be approved by the FDA for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris in adults and children 9 years and older. According to the American Academy of Dermatology (“AAD”), acne is the most common skin condition in the United States, affecting up to 50 million Americans annually. Approved by the FDA in May 2020, ZILXI (minocycline) topical foam...