Foamix Pharmaceuticals Ltd.'s Board of Directors has named David Domzalski Chief Executive Officer of the company effective immediately. Mr. Domzalski currently serves as President of Foamix's US subsidiary. He succeeds Dr. Dov Tamarkin as CEO. Dr. Tamarkin will continue to be a member of the company's Board of Directors and will serve as Chief Scientific Advisor to Foamix. The company also announced that Mr. Meir Eini will be stepping down from his current role of Chief Innovation Officer and will continue to serve as an Innovation Advisor to Foamix. Mr. Ilan Hadar, the current Chief Financial Officer of Foamix, will assume the role of Country Manager in Israel, in addition to his role as Chief Financial Officer.

Dave Domzalski has 25 years of experience in the pharmaceutical industry. He joined Foamix in 2014, and has served for the past three years as President of Foamix Pharmaceuticals Inc., the Company's U.S. subsidiary. He has been instrumental in leading the growth and evolution of Foamix during this time period, including the company's successful IPO and subsequent follow-on capital financings, the formation and build-out of the company's US operations, and the advancement of two late-stage clinical development programs (FMX101 for moderate-to-severe acne and FMX103 for moderate-to-severe papulopustular rosacea), both of which are currently in Phase 3.

"I am very excited to lead Foamix at this important time and, together with our strong senior management team, will continue to work diligently to advance our lead programs, with the goal of bringing new innovative solutions to patients," said Domzalski. "I look forward to working with our leadership team and the Board to strengthen Foamix for long-term sustained growth."

"On behalf of the entire Board of Directors, I want to thank Dov Tamarkin for his dedicated leadership and contributions to Foamix. Along with Co-founder Meir Eini, Dov has built Foamix from a small privately held company in Israel into a fully integrated publicly traded specialty pharmaceutical company with an innovative proprietary technology platform and two advanced clinical development programs currently in Phase 3," said Dr. Stanley Hirsch, Chairman of the Board of Directors. "Dov, Meir and the Board have determined that it is the right time to transition to new leadership as the company focuses on completing the Phase 3 programs for FMX101 and FMX103, expanding the pipeline, and preparing the organization for its next phase of growth. We are confident that Dave will successfully lead Foamix in these efforts, generating better outcomes for patients and creating value for Foamix's shareholders."

"For the past 14 years, it has been our mission at Foamix to build a pharmaceutical company that can help serve the unmet needs of patients and healthcare providers. Together with Meir, it has been an honor leading Foamix , building a talented management team, and working with our incredibly dedicated employees," said Dr. Tamarkin. "Now that the company has established an international presence and has developed two late-stage products that leverage our proprietary foam platform, it is the right time for me to step down as CEO. I look forward to working with Dave and the Board to ensure a smooth transition, and remain fully committed to the success of Foamix."