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. Barclays and Cowen & Company are the joint bookrunners on the deal. No pricing terms were disclosed.
