Foamix Announces New Waterless Foam Designed for Enhanced Skin Delivery - Useful for Steroids and Water Sensitive Drugs

Ness Ziona, Israel, July 24, 2006 --- Foamix Ltd announced today the creation of a novel and proprietary waterless foam vehicle for the delivery of water insoluble and water– sensitive dermatological drugs. The main components of this carrier are propylene glycol, glycerin and additional polar solvents, which are known to enhance the delivery of active agents into the skin, while providing a high skin hydration effect. A series of accelerated stability studies, encompassing a broad spectrum of corticosteroids as well as nonsteroidal active agents, has revealed excellent stability in all cases.

An abstract detailing the development of this new technological platform entitled “Innovative waterless hydrophilic topical foam” is to be presented by Foamix CTO Dr. Doron Friedman, as Poster Number 1023 in Poster Session II at the 33rd Annual Meeting of the Controlled Release Society (CRS) in Vienna, Austria, July 22–26, 2006. The abstract will also be published in a CRS Journal.

“Foamix accomplished its objective to be the first to develop a new type of hydrophilic waterless foam vehicle. This formulation produces a stable foam when released from a pressurized aerosol can, is easily applied with gentle spreading and is instantly absorbed into the skin. Also of importance, it leaves neither a sticky nor a greasy feeling nor any shine, unlike conventional creams and ointments,” said Dr. Friedman.

Foamix chose specific, delicate, FDA approved non-ionic surfactants and polymers to create the foaming action.

“We believe the development of the waterless foam formulation is an extraordinary advancement in the areas of dermatological and gynecological drug delivery. We are utilizing this proprietary waterless and alcohol-free foam platform to develop a broad spectrum of topical drugs, including steroids, antibiotics, antifungals, antivirals and a hair growth drug. We believe that the multiple benefits of this foam will help to encourage patients to better comply with physician treatment recommendations,” said Foamix CEO and abstract co-author Dr. Dov Tamarkin.

NOTE: Foamix will be exhibiting at the American Academy of Dermatology (AAD), July 26-30, 2006 at the San Diego Convention Center/Marriott. Interested parties are invited to stop by the booth for a briefing and demonstration. To schedule an appointment with the Foamix management at the AAD 2006 please contact Foamix's US representative Mr. Charlie Harrison at charlie@foamix.co.il or at (404) 229-1499.

* To view the poster as presented, click here

About Foamix

Headquartered in Ness Ziona, Israel, Foamix Ltd. develops alcohol-free, stable topical foam products for prescription, Over-the-Counter and cosmetic uses. Foamix’s state-ofthe- art foams provide controlled delivery of a variety of active ingredients. They are also able to enhance intradermal delivery of actives, for optimal effect. The Company’s development capabilities range from initial development of foam formulations to scale-up, GMP manufacturing, preclinical trials and clinical studies. The Company was founded in January 2003 by CEO Dr. Dov Tamarkin, COO Mr. Meir Eini and Chief Technology Officer Dr. Doron Friedman. Foamix Ltd. is a privately held company, whose business model is based on partnering with leading pharma and cosmetics companies to develop products utilizing its proprietary foam technologies.

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