Foamix Pharmaceuticals, an Israeli biotech developing topical foam treatments for moderate-to-severe acne, filed on Wednesday with the SEC to raise up to $75 million in an initial public offering. The company expects to enter Phase 3 trials for its lead candidate, a 4% minocycline foam formulation, in 2015.
The Weizmann Science Park, Israel-based company, which was founded in 2003 and booked $3 million in licensing agreements for the 12 months ended June 30, 2014, plans to list on the NASDAQ under the symbol FOMX. Foamix initially filed confidentially on May 20, 2014.
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