Many drugs for skin treatment can now be used easily, with improved results.

NESS ZIONA, ISRAEL, June 10, 2003 - Foamix Ltd., a leader in developing innovative topical delivery systems, announced in the recent “Bio-Israel Conference” that it has completed the primary phase of development of revolutionary dermatological medicated foams. Dermatological therapy is becoming more convenient and more effective, using Foamix’s new foams, which substitute the traditional ointments and creams. There are a few foams on the market today, but they contain alcohol, which is undesirable in most dermatological treatments. Foamix’s revolutionary foams do not contain alcohol, and thus, can be utilized for a variety of dermatological applications.

“We have incorporated a variety of drugs, including antibacterials, antifungals, steroids and local anesthetics in our foam, with great success”, said Dr. Doron Friedman, CTO of the company. “Our initial experience in human therapy is very exciting. Psoriasis and atopic dermatitis patients improved significantly after 10-14 days of treatment, using our foam – based anti-inflammatory products”, he added. This exceptional benefit was attributes to (1) the facile application of the product, which was evenly absorbed in the skin; and (2) the user-friendly nature of the product, which resulted in better treatment-compliance. In light of these scientific achievements, Foamix has recently signed cooperation agreements with two dermatological companies, for the development of specific drugs in its foam, which led to expansion of R&D operations.

“We feel strongly that our foams will help revolutionize the dermatological marketplace, enabling noticeable, short-term results and increased user satisfaction,” said Dov Tamarkin of Foamix. “We see strong interest from the industry and expect to sign additional co-development agreements in the very near future.” While pursuing its partnering strategy, Foamix also develops a series of “easy to develop” over-the-counter foams, in house, with the intention to be on the US market in mid-2004. About Foamix: Foamix Ltd. is a leader in topical drug development. The company develops three platforms of proprietary products lines: the Foamix foam (DermatoFoamix™ and CosmetoFoamix™) and the OILGEL™.