Foamix files for IPO

Israeli dermatology play Foamix Pharmaceuticals Ltd. (Ness Ziona, Israel) filed to raise up to $74.8 million in an IPO on NASDAQ underwritten by Barclays; Cowen; Oppenheimer; and Maxim Group. By mid-2015, Foamix plans to start Phase III testing of FMX101 to treat moderate to severe acne, with a Phase III trial of FMX102 for impetigo slated to start in 2H15. The two lead products are topical foam formulations of minocycline, a generic antibiotic. Foamix is developing both under section 505(b)(2) of the Food, Drug and Cosmetic Act, which allows sponsors to reference data on safety and efficacy from the scientific literature or from previously approved products. ...