Sol-Gel, Searchlight Pharma Partner to Commercialize TWYNEO and EPSOLAY in Canada
Searchlight Pharma anticipates filing of Canadian regulatory submissions in early 2024.
Israel’s Sol-Gel Technologies, Ltd. and Searchlight Pharma Inc. have signed exclusive license agreements for TWYNEO and EPSOLAY for the Canadian market.
Both products recently launched in the U.S., and Searchlight is to commercialize in Canada over a fifteen-year term that is renewable for subsequent five-year periods. TWYNEO (tretinoin, 0.1%, and benzoyl peroxide, 3%, cream) is used for the treatment of acne vulgaris in adults and pediatric patients 9 years of age and older. EPSOLAY (benzoyl peroxide, 5%, cream) is used for the treatment of inflammatory lesions of rosacea in adults.
“We are pleased to partner with a leading and dynamic specialty pharmaceutical company, Searchlight Pharma, to introduce our two innovative dermatology drugs to Canadian patients and to generate non-dilutive capital for our shareholders,” says Alon Seri-Levy, Ph.D., Chief Executive Officer of Sol-Gel, in a news release. “With this partnership, we look forward to expanding our strong commercial presence in North America and further strengthening our growing revenue base.”
As part of the agreement terms, Sol-Gel will receive up to $11 million in potential upfront payments and regulatory and sales milestones for both drugs, combined. In addition, Sol-Gel will be entitled to royalty percentages of all Canadian net sales ranging from the low-double-digits to high-teens.
“TWYNEO and EPSOLAY are valuable additions to our growing portfolio in line with our philosophy to acquire innovative and unique specialty healthcare products in therapeutic areas within our strategic interest. Both products have had encouraging uptake by physicians in the U.S. over the past year, and we look forward to commercializing both products for patients in Canada,” says Mark Nawacki, President and Chief Executive Officer of Searchlight Pharma Inc.
Searchlight will be responsible for obtaining and maintaining any regulatory approvals required to market and sell the drugs in Canada, with support from Sol-Gel.
Dr. Seri-Levy continues, “Searchlight has repeatedly ranked among the top growth companies in Canada and is dedicated to improving health through the acquisition and commercialization of differentiated and unique healthcare products. We look forward to collaborating with Searchlight to maximize the presence of our two unique drugs, TWYNEO and EPSOLAY, in Canada, a leading