Menlo Announces Settlement to Conclude Finacea Foam Litigation and Announces that Partner, LEO Pharma A/S, Remedies Finacea Foam Supply Issues
MENLO THERAPEUTICS INC COMMON (MNLO)
Last menlo therapeutics inc common earnings: 3/3 04:05 pm
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Source: GlobeNewswire
BRIDGEWATER, N.J., April 02, 2020 (GLOBE NEWSWIRE) -- Menlo Therapeutics Inc. (Nasdaq: MNLO) (“Menlo” or the “Company”), a biopharmaceutical company focused on developing and commercializing proprietary therapies to address unmet needs in dermatology, today announced that its wholly-owned subsidiary, Foamix Pharmaceuticals Ltd. (“Foamix”) has entered into a settlement and license agreement to resolve the remaining pending patent litigation involving Finacea® Foam. Details of the settlement agreement are confidential, and the settlement agreement is subject to the review of the Federal Trade Commission and the U.S. Department of Justice. Foamix is the owner of patents that have been licensed to LEO Pharma A/S (“LEO Pharma”) to market Finacea® Foam, a topical prescription medicine used to treat the inflammatory papules and pustules of mild to moderate rosacea. This settlement concludes the litigation relating to Finacea® Foam and comes after the settlements in October 2019 with
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