Sol-Gel Technologies Ltd.

Sol-Gel announced the acquisition of topically-applied patidegib, a hedgehog signaling pathway blocker, for the treatment of Gorlin syndrome from PellePharm, Inc. Sol-Gel will pay PellePharm an upfront payment of $4.7 million and total development and NDA acceptance milestones of up to $6.0 million, and up to $64.0 million in commercial milestones as well as single digit royalties. Patidegib has been granted Orphan Drug Designation by the FDA and the EMA as well as Breakthrough Therapy Designation by the FDA. Both FDA and EMA have stated that approval may be supported by a single pivotal Phase 3 study.

After Purchasing 100% of Sol-Gel, Mori Arkin merged into it another company of his, Arkin Dermatology.

Sol-Gel sold its sunscreen activity to Merck Serono International SA; initial payment is reportedly more than $10 million, plus royalties on product sales.