Sol-Gel Signs Asset Purchase Agreement With Shenzhen Beimei To Commercialize TWYNEO In Mainland of China, Hong Kong, Macau, Taiwan And Israel

Under the terms of the agreement, Beimei purchases and licenses rights to exclusively commercialize TWYNEO in these territories. In return, Sol-Gel will receive, subject to applicable government approvals, upfront and milestone payments of $10 million and up to $5 million as royalty payments on net sales.