Foamix, Menlo Therapeutics to merge

Foamix and Menlo have signed a definitive merger agreement to create a combined biopharmaceutical company focused on the commercialization and development of therapeutics to serve patients in the dermatology space. 

The boards of directors of both Foamix and Menlo have unanimously approved the transaction.

The combined company will have a diversified portfolio including an approved product and three late-stage product candidates focused on dermatologic indications.

The combined company will be led by Foamix CEO David Domzalski, and headquartered in New Jersey.  

The board of the combined company will consist of five members designated by Foamix including Domzalski, and two members designated by Menlo, including CEO Steve Basta.

The transaction is expected to be completed in late Q1 and early Q2 of 2020.