An Is­raeli biotech gam­bles on a failed drug, merg­ing with trou­bled Men­lo ahead of PhI­II da­ta

Af­ter tak­ing a pair of tor­pe­does at the wa­ter­line last year, a list­ing Men­lo Ther­a­peu­tics $MN­LO is cast­ing its lot with Is­raeli der­ma­tol­ogy biotech Foamix $FOMX in a merg­er deal that’s care­ful­ly hedged against more fail­ures.

Foamix got a big — and much need­ed — boost a few weeks ago, when the FDA ap­proved its top­i­cal for­mu­la­tion of an an­tibi­ot­ic for ac­ne. And they just filed an NDA on an­oth­er minocy­cline take with an ap­pli­ca­tion for mod­er­ate-to-se­vere papu­lo­pus­tu­lar rosacea.

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