REHOVOT, Israel and RALEIGH, N.C., June 16, 2015 (GLOBE NEWSWIRE) — Foamix Pharmaceuticals (Nasdaq:FOMX) and Merz North America, Inc., today announced that the first milestone payment related to their unique foam technology development program has been made to Foamix.

“We are pleased with the continued progress of this program and our partnership with Foamix,” said Bill Humphries, President and Chief Executive Officer of Merz North America. “Development partnerships will enable continued innovation in Dermatology, which is a focus and core strategic pillar for Merz North America.”

This recent milestone payment is part of an ongoing collaboration to develop and commercialize an innovative medicated topical foam. Under the agreement, signed in 2013, Merz receives an exclusive worldwide license for the global development and commercialization of a foam product. Foamix will further be entitled to royalties and additional milestone payments under certain conditions.