Rehovot, Israel, December 8, 2008

Foamix has been named as a finalist for the prestigious SCRIP Award 2008 for Pharma and Biotech in the category of “Best Overall Pipeline”, together with GSK, Novartis and Schering-Plough.

The event will take place on December 10th in London.

Foamix Ltd. has been shortlisted in the category of Best Overall Pipeline for the 2008 Scrip awards. The award ceremony will be held in London on December 10, 2008.

The Scrip Award organized by Scrip Publishing with a distinguished international panel of judges recognizes achievements in the Global Pharmaceutical and Biotech industry.

Foamix is shortlisted together with GlaxoSmithKline, Novartis, Schering-Plough, UCB and Oxford BioMedica in the category of Best Overall Pipeline.

“We are honored to be competing against such major global pharmaceutical leaders for this award. Our pipeline Includes products that our licensees will introduce into the US market in 2009. Further, our pharma partners are progressing multiple projects through the advanced phases of clinical trials, toward product launches in 2010-2015. Our internal project portfolio combines advanced foam products with new chemical entities and known molecules. Our focus on Dermatology and women’s health has spurred our pipeline productivity.

As a young company from Israel, we believe this award will increase our visibility in the pharmaceutical sector and will aid our ongoing business development and out-licensing efforts.

We look forward to the ceremony both for the recognition it affords Foamix and as a representative of the innovative and entrepreneurial Israel Biopharma sector” stated Dr Dov Tamarkin, CEO of Foamix.

Details of the award ceremony can be found at www.scripawards.com

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 11 pharmaceutical companies on 13 projects in the development of proprietary dermatological and gynecologic foam drugs; and we have our own in-house pipeline of dermatological and gynecological drugs in foam presentation.

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