Sol-Gel Technologies

Company Overview

Snapshot

Founded in October 1997 by Alon Seri-Levy, Sol-Gel Technologies operates with 11–50 employees. The company has raised $146 million across 7 funding rounds. In February 2018, Sol-Gel Technologies priced its Initial Public Offering (IPO) at $12.00 per share, raising $73 million, with shares approved for listing on The Nasdaq Global Market.

Business overview

Sol-Gel Technologies is a clinical-stage dermatology company specializing in the identification, development, and commercialization of branded and generic topical drug products for skin diseases. The company leverages its proprietary silica-based microencapsulation technology platform to create product candidates, including Twyneo and Epsolay for acne and rosacea, which are marketed in the US by Galderma. Sol-Gel also develops topical patidegib for Gorlin syndrome and topical erlotinib for pachyonychia congenita and other rare skin indications, operating within the Health Tech & Life Sciences sector, specifically targeting Pharma & Medical Biotechnology and Drug Discovery & Development.

Strategic signal

In April 2025, Sol-Gel Technologies sold the U.S. marketing rights for its key products, EPSOLAY and TWYNEO, to Mayne for $16 million. This strategic divestment, following commercial underperformance of these products, signals a pivot to stabilize finances and re-focus on promising pipeline assets, particularly a new drug for Gorlin syndrome, indicating a shift towards specialized treatments and a more sustainable financial trajectory.

Company Intelligence Q&A

What was the outcome of the sale of U.S. marketing rights for EPSOLAY and TWYNEO?

In April 2025, Sol-Gel Technologies sold the U.S. marketing rights for its products EPSOLAY and TWYNEO to Mayne for $16 million. This decision was made to fund the development of a new drug for treating skin cancer in patients with Gorlin syndrome, following the commercial underperformance of the sold products.

What significant regulatory milestone did Sol-Gel Technologies' collaboration partner achieve?

In April 2024, Sol-Gel Technologies announced that its partner, Padagis Israel Pharmaceuticals, submitted a first-to-file Abbreviated New Drug Application (ANDA) to the U.S. FDA for Roflumilast Cream, a generic drug for plaque psoriasis. If approved, Sol-Gel and Padagis will share gross profits from sales.

What is the status of Sol-Gel Technologies' SGT-610 drug candidate?

In November 2023, Sol-Gel Technologies initiated Phase 3 testing for SGT-610, a topical hedgehog inhibitor designed to prevent new basal cell carcinoma lesions in patients with Gorlin syndrome. The drug has received Orphan Drug and Breakthrough Therapy designations in the U.S. and E.U.

What was the financial performance of Sol-Gel Technologies in Q3 2023?

In November 2023, Sol-Gel Technologies reported a net loss of $5.7 million for the third quarter of 2023. The company also provided an update on its progress towards Phase 3 testing for SGT-610 and ongoing discussions with partners for international licenses of TWYNEO and EPSOLAY.

What was the impact of Sol-Gel Technologies' Q2 2023 financial results on its operations?

In August 2023, Sol-Gel Technologies reported its Q2 2023 financial results, revealing a partnership with Searchlight Pharma for up to $11 million in upfront payments and milestones for TWYNEO and EPSOLAY. Due to lower-than-expected royalty streams, the company implemented cost-saving measures, including a reduction of approximately 25 employees, and prioritized the advancement of SGT-610 into Phase 3 testing.