Sol-Gel Technologies, which is developing acne creams that deliver treatment via proprietary microcapsules, filed on Tuesday with the SEC to raise up to $86 million in an initial public offering.
The Ness Ziona, Israel-based company was founded in 1997 and booked a net loss of $24 million for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol SLGL. Sol-Gel Technologies filed confidentially on September 28, 2016. Jefferies and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
