VYNE Therapeutics Inc., a specialty pharmaceutical company focused on developing differentiated medicines for the treatment of immuno-inflammatory conditions, announced that it has sold the assets of its flagship product line, including its Matrix Stabilizing Technology franchise, to Journey Medical Corporation. The $450 million Sale will help fund the development of the company’s pipeline. Proceeds will also be used to fund other company initiatives. With this transaction, the first payment will be equal $20 million and will have an extra $5 million afterward. After coming to specific results in the sales operation, the company will make amendments to its existing payment plan.
The sale of the Matrix Stabilizing Technology assets is part of VYNE Therapeutics’ strategy to focus on its pipeline of immuno-inflammatory drugs. The year 2022 is expected to be a significant year for VYNE, with the company’s pipeline being focused on its InhiBETTM platform and its FMX114 program. The company is about to file an IND for its InhiBETTM platform’s first product candidate, VYN201, in 2022 and begin a clinical program for the treatment of major inflammatory states in 2022.