The appointment supports Foamix’s growth and expanding intellectual property portfolio

Ness Ziona, Israel, July 17, 2006 ---- Foamix, a specialty pharmaceutical company that develops innovative dermatology foam and OilGel™ products, announced today the appointment of David Schuz as Senior Vice President, Intellectual Property. Mr. Schuz will be primarily responsible for managing IP affairs including Foamix’s expanding patent and trademark portfolio as well as directing IP strategy and IP due diligence.

“I am delighted to join the management team and look forward to exciting times to come,” said Mr. Schuz.

Mr. Schuz joins Foamix from Bio-Technology General (Israel) Ltd. where he served as Vice President, Legal. He also served at various times as Acting General Counsel, Associate General Counsel, Senior Director and Head of IP Worldwide at Savient Pharmaceuticals Inc., the company from which Bio-Technology General (Israel) Ltd. was divested in 2005. From 1984 to 1999, Mr. Schuz held legal and intellectual property positions at S. Horovitz & Co., Advocates and Patent Attorneys, at Dr. Reinhold Cohn and Partners, Patent Attorneys, as well as at Raymond Saul & Co., Solicitors. He also lectured on patent issues at the Faculty of Law at Bar Ilan University, from 1996-2001.

“From its inception, Foamix has been built on a solid foundation of strong IP. However, in the last year, our patent portfolio has broadened extensively and considerably. This is the reason for inviting Mr. Schuz to join our team. Foamix has graduated to a new league and intends to maintain its leadership pace in the creation of new pharmaceutical and cosmeceutical foam and OilGel™ products,” said Foamix CEO Dr. Dov Tamarkin.

Mr. Schuz acquired his legal and intellectual property education at LSE, University of London, QMW, University of London and the University of Trent, Nottingham, UK. He also holds an M. Phil. Degree in Biochemistry and a Diploma of Pharmacology from the University of Cambridge.

“Foamix has a technology and a business model unmatched anywhere. The Company has a robust and growing product pipeline, born out of a steady stream of IP. Foamix continues to strengthen its position in the market by establishing partnerships with leading pharmaceutical companies. Our IP portfolio is an attractive asset to our partners as it protects innovation and lifecycle management. Mr. Schuz is an astute and highly talented attorney, whose wealth of experience is certain to benefit Foamix and its partners,” said Foamix COO Mr. Meir Eini.

For additional information: www.foamix.co.il or Marjie Hadad, Media Liaison, Foamix, Marjie@foamix.co.il; +972-54-536-5220.