Ness Ziona, Israel, October 29, 2007 --- Foamix Ltd. (www.foamix.co.il), a specialty pharmaceutical company focused on the development of topical foam products, announced today that it has licensed the exclusive worldwide rights for a dual chamber aerosol device from Wella AG. With its brands in Hair Care and Cosmetics, Wella is part of The Procter and Gamble Group since 2003.

“Combination pharmaceutical products are becoming a prominent component of topical therapy, as demonstrated by acne medications combining benzoyl peroxide with antibiotics and retinoids, psoriasis drugs combining Vitamin D analogs and steroids and anti-pigmentation drugs that combine steroids, hydroquinone and retinoids; however, due to compatibility constraints, creating a stable combination product with reasonable shelf life is a challenge. This license will enable us to incorporate two or more active agents in the same pharmaceutical product, with no stability concerns,” said Foamix CEO Dr. Dov Tamarkin. “We are committed to continuing progress at the forefront of topical therapy, and our ability to develop stable, safe and effective combination drugs will provide added value for Foamix and for our industry partners,” he added.

According to the license agreement, Foamix has the exclusive rights to use the dual-chamber device for all topical and intra-vaginal drug products requiring prescription. The financial terms of the agreement were not disclosed.

The device is protected by US Patent No. 6,305,578, EP 1075325 and JP 2000-600768; and Foamix has its own patent applications, covering a broad spectrum of foam vehicles and drugs that can be incorporated in this device.

About Foamix

Headquartered in Ness Ziona, Israel, Foamix Ltd. is a specialty pharmaceutical company focused on the development of topical foam products for prescription, OTC and cosmetic applications. Foamix’s state-of-the-art foams provide controlled delivery of a variety of active ingredients. Foamix is a privately held company, whose business model is based on partnering with leading pharma companies to develop products utilizing its proprietary foam technologies. We currently collaborate with 8 pharmaceutical companies on 10 projects in the development of proprietary dermatological and gynaecologic foam drugs; and we have our own in-house pipeline of dermatological and gynecological drugs in foam presentation.

The company’s development capabilities range from initial development of foam formulations to scale-up, GMP manufacturing, preclinical and clinical studies. Foamix holds 3 US patents and has 48 US patents pending, with corresponding national applications.

For additional information please visit www.foamix.co.il.

Press inquiries: Sigal Maymon, Foamix Ltd, +972-8-9316233 or info@foamix.co.il