Sol-Gel Announced Signing of Six Exclusive License Agreements to Commercialize TWYNEO and EPSOLAY in Europe and South Africa

Sol-Gel Technologies,
Ltd. (NASDAQ:SLGL), a dermatology company pioneering treatments for
patients with severe skin conditions, conducting a Phase 3 clinical trial of
SGT-610 (patidegib gel, 2%) for Gorlin syndrome, and with two approved
large-category dermatology products, TWYNEO(R) for the treatment of acne
vulgaris and EPSOLAY(R) for the treatment of inflammatory lesions of
rosacea, today announced it has entered into six (6) exclusive license
agreements with MagnaPharm Trading Slovakia S.R.L, Galenica A.B, Leman SKL
SA, InfectoPharm, Aspire Pharma Limited and Abex Pharmaceutica (PTY) Ltd.
for the commercialization of TWYNEO and EPOSLAY covering the majority of the
European countries, including Germany(1) , United Kingdom, France, Poland,
Romania, Greece, Czech Republic, Sweden, Hungary, Austria(1) , Switzerland,
Serbia, Bulgaria, Finland, Slovakia, Norway, Croatia, Bosnia and
Herzegovina, Albania, Lithuania, North Macedonia, Slovenia, Latvia, Estonia,
Iceland, and South Africa. Under the terms of the agreements, Sol-Gel is to
receive upfront and regulatory milestones payments totaling in up to low
7-digit USD as well as either future fixed transfer price or future low
double digit royalties from net sales payments which are backed by
commitments to minimum annual sales. The regulatory submissions in the
various territories are the responsibility of Sol-Gel's partners, and
Sol-Gel will assist its partners in preparing these submissions.