UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Under the Securities Exchange Act of 1934
For the month of April 2020
Commission File Number 001-38367
SOL-GEL TECHNOLOGIES LTD.
(Translation of registrant’s name into English)
7 Golda Meir Street
Ness Ziona 7403650, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K
On April 13, 2020, Sol-Gel Technologies Ltd. (the “Company”) issued a press release announcing the closing of an additional $5.0 million investment. The Company is also posting on its website a
corporate presentation.
Attached hereto and incorporated by reference in this Report on Form 6-K are the following exhibits:
Exhibit 99.1 to this Report on Form 6-K is hereby incorporated by reference into the Company's Registration Statement on Form F-3
(Registration No. 333-230564) and Registration Statement on Form S-8 (Registration No. 333-223915).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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SOL-GEL TECHNOLOGIES LTD.
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Date: April 13, 2020
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By:
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/s/ Gilad Mamlok | |
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Gilad Mamlok
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Chief Financial Officer
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Exhibit 99.1
Sol-Gel Technologies Announces Closing of Additional $5.0 Million Investment
Investment is for ordinary shares and warrants to purchase ordinary shares at a combined price of $11 per ordinary
share and accompanying warrants to purchase 0.80 of an ordinary share
Investment brings total gross proceeds from the February 2020 transactions to $28 million
NESS ZIONA, Israel, April 13, 2020 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a clinical-stage dermatology company
focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases, today announced that following the approval by Sol-Gel’s shareholders, Sol-Gel’s controlling shareholder, M. Arkin
Dermatology Ltd., has closed an additional $5.0 million investment in Sol-Gel. This investment brings the total gross proceeds from the February 2020 underwritten offering and the M. Dermatology Ltd. investment to $28 million.
“I have been highly involved with Sol-Gel since August 2014, and I have watched management continue to execute on milestone after
milestone," commented Mori Arkin, Sol-Gel’s Chairman of the Board of Directors and Founder and Chairman of M. Arkin Dermatology Ltd. “I am happy to increase my investment in Sol-Gel, even at this premium, as I firmly believe in the Company’s ability
to provide patients with better skincare products.”
As part of the investment, Sol-Gel issued to M. Arkin Dermatology Ltd. 454,628 ordinary shares and warrants to purchase up to 363,702
ordinary shares in a private placement at a combined price of $11.00 per ordinary share and accompanying warrant to purchase 0.80 of an ordinary share, which is the same price as the public offering price of the ordinary shares and accompanying
warrants issued in Sol-Gel’s underwritten public offering that closed in February 2020. The warrants issued to M. Dermatology Ltd. have an initial exercise price of $14.00 per share, subject to certain adjustments, and will expire on February 19,
2023, which are on the same terms as the warrants issued in the public offering. M. Arkin Dermatology Ltd. agreed to make this private investment concurrently with the February 2020 underwritten public offering.
“We are extremely pleased to have the continued support from our lead shareholder, Mr. Mori Arkin, as we move towards our NDA filings for
Epsolay® and Twyneo® later this year and commercialization of both drug candidates, if approved, next year,” commented Dr. Alon Seri-Levy, Chief Executive Officer of Sol-Gel. “We thank Mori for his additional investment during
this tumultuous time, and thanks to this our cash resources are expected to be sufficient to fund our operational and capital expenditure requirements until the middle of 2021.”
About Sol-Gel Technologies
Sol-Gel is a clinical-stage dermatology company focused on identifying, developing and commercializing branded and generic topical drug
products for the treatment of skin diseases. Sol-Gel leverages its proprietary microencapsulation technology platform for Twyneo, for the treatment of acne vulgaris, and Epsolay, for the treatment of papulopustular rosacea. The Company’s pipeline
also includes SGT-210, an early-stage topical epidermal growth factor receptor inhibitor, erlotinib, for the treatment of punctate palmoplantar keratoderma, and preclinical assets tapinarof and roflumilast. For additional information, please visit www.sol-gel.com.
Forward-Looking Statements
This press release contains
“forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking
statements, including, but not limited to, statements regarding the clinical progress of our product candidates and the timing of the submission of an NDA for Epsolay and an NDA for Twyneo. These forward-looking statements include information about
possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,”
“continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information we have when those statements are made or our
management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could
cause such differences include, but are not limited to, risks relating to the effects of COVID-19 (coronavirus), the timing of a launch of a branded tapinarof product and the launch of a branded topical roflumilast in the U.S., risks related to the
timing of the submission of an NDA for Epsolay and an NDA for Twyneo as well as the following factors: (i) the adequacy of our financial and other resources, particularly in light of our history of recurring losses and the uncertainty regarding the
adequacy of our liquidity to pursue our complete business objectives; (ii) our ability to complete the development of our product candidates; (iii) our ability to find suitable co-development partners; (iv) our ability to obtain and maintain
regulatory approvals for our product candidates in our target markets and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; (v) our ability to commercialize our
pharmaceutical product candidates; (vi) our ability to obtain and maintain adequate protection of our intellectual property; (vii) our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an
acceptable cost; (viii) our ability to establish adequate sales, marketing and distribution channels; (ix) acceptance of our product candidates by healthcare professionals and patients; (x) the possibility that we may face third-party claims of
intellectual property infringement; (xi) the timing and results of clinical trials that we may conduct or that our competitors and others may conduct relating to our or their products; (xii) intense competition in our industry, with competitors
having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do; (xiii) potential product liability claims; (xiv)
potential adverse federal, state and local government regulation in the United States, Europe or Israel; and (xv) loss or retirement of key executives and research scientists. These and other important factors discussed in the Company's Annual
Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 24 , 2020 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in
this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. Except as required by law, we undertake no obligation to update publicly any forward-looking statements after the date of
this press release to conform these statements.
For further information, please contact:
For further information, please contact:
Sol-Gel Contact:
Gilad Mamlok
Chief Financial Officer
+972-8-9313433
Gilad Mamlok
Chief Financial Officer
+972-8-9313433
Exhibit 99.2
NASDAQ: SLGL
This presentation contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,”
“anticipate,” “could,” “future,” “outlook,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other similar expressions, although not all forward-looking
statements contain these words. The forward-looking statements in this presentation relate to, among other things, statements regarding our anticipated NDA submission dates for EPSOLAY and TWYNEO, estimated timing for the approval and
commercial launch of EPSOLAY and TWYNEO, and estimated sales of our product candidates. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties, and other important factors that may cause our
actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statement, including but not limited to the following: the fact that we
have and expect to continue to incur significant losses; our need for additional funding, which may not be available; our ability to complete the development of, and obtain marketing approval for, our product candidates; our ability to obtain
and maintain regulatory approvals for our product candidates in our target markets and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; our ability to
commercialize and launch our product candidates; our ability to obtain and maintain adequate protection of our intellectual property; our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an
acceptable cost; our ability to establish adequate sales, marketing, and distribution channels; acceptance of our product candidates by healthcare professionals and patients; the possibility that we may face third-party claims of intellectual
property infringement; the timing and results of clinical trials that we may conduct or that our competitors and others may conduct relating to our or their products; intense competition in our industry; potential product liability claims;
potential adverse federal, state, and local government regulation in the United States, Europe, or Israel; the impact of pandemics, such as the Novel Coronavirus Disease 2019; and loss or retirement of key executives and research scientists.
These and other important factors discussed in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 24, 2020, and our other reports filed with the SEC could cause actual results to differ
materially from those indicated by the forward-looking statements made in this presentation. Any such forward-looking statements represent management’s estimates as of the date of this presentation. While we may elect to update such
forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means
that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation.
This presentation contains trademarks, trade names, and service marks of other companies, which are the property of their respective owners. We do not intend our use or display of other parties' trademarks, trade names, or service marks to
imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. FORWARD-LOOKING STATEMENTS
Timelines for Epsolay® and TWYNEO® We completed the clinical programs required for the submission of
our NDAs for Epsolay® and Twyneo®We also met with the FDA (physically and through telecoms) for pre-NDA meetings Exhibit batches for Epsolay® were produced at full commercial scale and the next production step is the manufacture of the
commercial/validation batchesExhibit batches for Twyneo® were produced on a 200kg scaleOur CMOs (Contract Manufacturer Organizations) for Epsolay® and Twyneo® are open despite COVID-19We therefore do not anticipate delays in the submission of
the NDAs or the production of the commercial/validation batches for both Epsolay® and Twyneo®This is of course, a dynamic situation which we will be monitoring closely
CURRENT MODUS OPERANDI (COVID-19) Company is following all restrictions published by the Israeli
Ministry of Health (IMOH) and therefore no more than 30% of employees work at our facilities at any one time – primarily employees working in the labs, production, maintenance, warehouse and housekeeping; the remainder are working from
homeBusiness Continuity Plan (BCP) and Disaster Recovery Plan (DRP) were in place ahead of the COVID-19 crisis, and our Information Technology (IT) infrastructure allows recovery in case of a disaster; secured remote access to servers,
financial activities and quality systems; and access to remote conferencing servicesCompany is taking all measures to ensure the well-being of our employees including frequent on-site cleaning and sanitary measures On-site and remote IT
support is availableAll business travel abroad was cancelled and replaced with telecoms and video conferencesPurchase orders were placed to increase our current inventorySGT-210 Phase I proof-of-concept clinical study is ongoing subject to
IMOH guidelines for COVID-19
OUR DERMATOLOGY COMPANY Positive Phase III results in papulopustular rosaceaNDA submission
expected in 1H/20Potential to be first-in-class and to work faster and better than current drugs EPSOLAY® Positive Phase III results in acne vulgaris NDA submission expected in 2H/20Potential to be
best-in-class TWYNEO® Ongoing Phase I proof-of-concept study for erlotinib gel in punctuate palmoplantar keratoderma type IResults expected early next year SGT-210 Microencapsulation in silica platform
technology Technology 15 provisional patent applications for tapinarof and roflumilast in various skin conditions Early Stage Seven 50/50 gross profit sharing collaborations with Perrigo$22.8 million in net revenues last
year Generics
Encapsulated Benzoyl Peroxide (E-BPO) ENCAPSULATION Improves tolerability CRYO-SEM
PICTURE ENERGY-DISPERSIVE X-RAY SPECTROSCOPY MAPPING Silica shell wraps BPO crystals and serves as a barrier between BPO and skin, leading to less irritation Skin lipids migrate through the silica shell to promote solubilization of BPO
Encapsulated Tretinoin (E-ATRA) encapsulation enhances stability Encapsulated tretinoin is stable in
the presence of E-BPO High encapsulation efficiency protects tretinoin SEM PICTURE SEM PICTURE
What isPapulopustular Rosacea? UNMET NEED IN Papulopustular rosacea Chronic Condition with Poor
Adherence to Current Treatments Encapsulation aims to reduce irritation of BPOPotential to be more effective than existing treatmentsPotential to be first FDA-approved single-agent BPO Rx drug product Our solution: EPSOLAY®E-BPO Cream,
5% Chronic, inflammatory condition that primarily affects the face and is often characterized by flushing, redness, inflamed bumps, and pustules How is it Treated? Topical antimicrobials (metronidazole, clindamycin); topical anti-mite
(ivermectin); systemic antibiotics (minocycline, doxycycline) Insufficient efficacy resulting in poor adherence, contributing to antibiotic resistance; systemic side effects What are the Current Treatment Shortfalls?
“Clear”: Skin clear of inflammatory papules or pustules“Almost Clear”: Very few small papules or
pustules and very mild dull erythema is present“Mild”: Few small papules or pustules and mild dull or light pink erythema is present“Moderate”: Several to many small or larger papules or pustules and moderate light to bright red erythema is
present“Severe”: Numerous small and/or larger papules or pustules and severe erythema that is bright red to deep red is present Primary Endpoints EPSOLAY® PHASE III STUDIES DESIGN Two Parallel, Multicenter, Double-Blinded, Randomized,
Vehicle-Controlled Studies, 2:1 Ratio, QD Weeks 2, 4, 8, 12 (end of study) Visits Proportion of patients with IGA “Clear” or “Almost Clear” relative to baseline at Week 12Absolute mean change in inflammatory lesion counts from baseline to
Week 12 ≥18 years old; “Moderate” or “Severe” rosacea; ≥15 to ≤70 inflammatory lesions; ≤2 nodules Inclusion Criteria Investigator Global Assessment (IGA) Definition
WELL-BALANCED EPSOLAY® PHASE III STUDIES
SUCCESS IN Primary endpoints Study 54-02 Study 54-01 P<0.001 P<0.001 Success in IGA @ Week
12 (ITT) Inflammatory Lesion Count Change from Baseline @ Week 12 (ITT) P<0.001 P<0.001 Study 54-02 Study 54-01 Change from Baseline in Inflammatory Lesion Count Success in IGA
IMPROVEMENT AS OF WEEK 2 P=0.009 P=0.017 Study 54-02 Study 54-01 P<0.001 P=0.009 Study
54-02 Study 54-01 P<0.001 P=0.006 Study 54-02 Study 54-01 Week 2Exploratory Endpoint (ITT) Week 4Secondary Endpoint (ITT) Week 8Secondary Endpoint (ITT) Success in IGA
IMPROVEMENT AS OF WEEK 2 P<0.001 P<0.001 P<0.001 Week 2Exploratory Endpoint (ITT) Week
4Secondary Endpoint (ITT) Week 8Secondary Endpoint (ITT) Study 54-02 Study 54-01 Study 54-02 Study 54-01 Study 54-02 Study 54-01 Change from Baseline in Inflammatory Lesion Count P<0.001 P<0.001 P<0.001
RAPID ONSET OF ACTION Baseline Week 2 Week 4 Week 8 Week 12 Subject 116-009; 41 years old;
Female; White; Not Hispanic or Latino
SUBSTANTIAL IMPROVEMENT CONTINUES Results after 12 Weeks Phase III Studies Followed by 40 Weeks
Long-Term Safety Study Extension Percentage of Subjects
RAPID Onset of action SIDE-BY-SIDE WITH historical results* *Sol-Gel did not conduct a head-to-head
comparison trial or study. The results described above are for illustrative purposes only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study Success in IGA
Success in IGA 10-week study EPSOLAY® 16-week study, Per os 12-week study 12-week study 12-week
study Inflammatory Lesion Percent Change from Baseline EPSOLAY® PHASE IIISide-by-side with historical results* *Sol-Gel did not conduct a head-to-head comparison trial or study. The results described above are for illustrative purposes
only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study Baseline Characteristics of Active
Arm IGA Severe 33 23 82 113 26 65 0 52 48 51 71 Moderate 210 227 369 346 172 418 557 67 77 444 443 Mild 0 0 0 0 0 0 0 8 17 0 0 Inflammatory
Lesions 25.7 29.8 31.0 33.3 21.6 21.7 18.3 19.5 20.5 28.5 30.0 FMX103 Minocycline foam, 1.5% 12-week study
TREATMENT-EMERGENT Adverse events
EPSOLAY® WAS WELL-TOLERATED % of Subjects Week 12 % of
Subjects Dryness Scaling Itching Burning/Stinging None Mild Moderate Severe Baseline Safety population: n=239 Fewer Local Skin Reactions at Week 12 than at Baseline Study 54-01
EPSOLAY® WAS WELL-TOLERATED Dryness Scaling Itching Burning/Stinging None Mild Moderate
Severe Safety population: n=249 Low Rate of Local Skin Reactions – Comparable to Vehicle Study 54-02 % of Subjects Week 12 % of Subjects Baseline
Encapsulation allows combining BPO and ATRAEncapsulation is aimed to reduce the irritation of both BPO
and ATRAPotential to be more effective than existing topical treatments Our solution: TWYNEO®E-BPO 3% + E-ATRA 0.1% Cream A multifactorial disease of the pilosebaceous unit, involving abnormalities in sebum production, follicular epithelial
desquamation, bacterial proliferation, and inflammation Topical BPO, retinoids, antibiotics, and their combinations; isotretinoin and antibiotics are mainstays of systemic therapy Insufficient efficacy negatively affects self-esteem;
contributes to antibiotic resistance; systemic side effects What isAcne Vulgaris? How is it Treated? What are the Current Treatment Shortfalls? UNMET NEED IN ACNE VULGARIS Multifactorial Disease Requiring Powerful Combination Treatments
Proportion of subjects with an assessment of "Clear" or "Almost Clear" and with at least a 2-grade
improvement in IGA from baseline at Week 12Absolute change in inflammatory lesion counts from baseline at Week 12Absolute change in non-inflammatory lesion counts from baseline at Week 12 Primary Endpoints “Clear”: Normal, clear skin with
no evidence of acne vulgaris“Almost Clear”: Rare non-inflammatory lesions present, with rare non-inflamed papules (papules must be resolving and may be hyperpigmented, though not pink-red) “Mild”: Some non-inflammatory lesions are present,
with few inflammatory lesions (papules/pustules only; no nodulo-cystic lesions)“Moderate”: Multiple Non-inflammatory lesions and, inflammatory lesions are evident (several to many comedones and papules/pustules, and there may or may not be
one small nodulo-cystic lesion)“Severe”: Inflammatory lesions are more apparent, many comedones and papules/pustules, there may or may not be a few nodulo-cystic lesions Inclusion Criteria Investigator Global Assessment (IGA)
Definition TWYNEO® PHASE III STUDIES DESIGN Two Parallel, Multicenter, Double-Blinded, Randomized, Vehicle-Controlled Studies, 2:1 Ratio, QD Weeks 2, 4, 8, 12 (end of study) ≥9 years old; “Moderate” or “Severe” acne; ≥20 to ≤100
inflammatory lesions; ≥30 to ≤150 non-inflammatory lesions; ≤2 cysts/nodules Visits
WELL-BALANCED TWYNEO® PHASE III STUDIES
SUCCESS IN IGA PRIMARY endpoint Study 65-05 P<0.001 Success in IGA @ Week 12 (ITT) Success in
IGA @ Week 12 (ITT) Study 65-04 Success in IGA Success in IGA P=0.017
SUCCESS IN LESION COUNT PRIMARY endpoints Study 65-05 Study
65-04 P<0.001 P=0.018 Non-Inflammatory Lesion Count Change from Baseline @ Week 12 (ITT) P<0.001 P<0.001 Study 65-05 Study 65-04 Change from Baseline in Non-Inflammatory Lesion Count Inflammatory Lesion Count Change from
Baseline @ Week 12 (ITT) Change from Baseline in Inflammatory Lesion Count
IMPROVEMENT IN SEVERE PATIENT Baseline Week 12 Subject 507-003; 18 years old; Female; White; Not
Hispanic or Latino
TWYNEO® PHASE IIISide-by-side with historical results* *Sol-Gel did not conduct a head-to-head
comparison trial or study. The results described above are for illustrative purposes only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study Trials with Highest Difference in IGA
Between the Active Arm and the Vehicle Arm Success in IGA Normalized to Vehicle TWYNEO®
TWYNEO® PHASE IIISide-by-side with historical results* TWYNEO® *Sol-Gel did not conduct a
head-to-head comparison trial or study. The results described above are for illustrative purposes only and should not be construedas conclusions to be drawn as if we conducted a head-to-head comparison trial or study Trials with Highest
Difference in IGA Between the Active Arm and the Vehicle ArmModerate Subjects at Baseline Only Success in IGA Normalized to Vehicle
LEAN COMMERCIALIZATION APPROACH Efficiently Reaching 80% Dermatology TRx in Acne and
Rosacea 6,500Dermatologists 6,000NPs/PAs Source: Syneos Health (Morrisville, NC), Sol-Gel Market Analysis, June 2019
INSURERS’ FORMULARY “All respondents recognized the product as a unique molecule for
rosacea”“Near unanimous recognition as additional option for rosacea”“If priced and rebated similarly to the covered products, coverage seems likely” EPSOLAY® “Unique MOA will qualify it for formulary addition, price will determine
its position”“If you price it like Epiduo, it will be managed like Epiduo”“If similarly priced with better tolerability, it would become preferred brand” TWYNEO® EPSOLAY® and TWYNEO® are Compelling Enough to Drive Formulary
Consideration Sources: NaviSync LLC (Morristown, NJ), Sol-Gel Managed Market Access for Acne and Rosacea, July 2019; Twyneo Payer Market Research Topline Summary, February 2020
$22.8 million net revenues from generic products in 2019 $50.3 million in cash and investments as of
December 31, 2019. Gross proceeds of $23 million raised in our underwritten offering in February 2020. Net proceeds of $5.0 million raised from our controlling shareholder in April 2020 under the same terms as our February 2020 underwritten
offering22,494,707 outstanding Ordinary Shares as of February 19, 2020Cash resources are expected to enable funding of operational and capital expenditure requirements into the middle of 2021Sol-Gel does not plan to raise additional dilutive
capital to fund pre-commercialization activities STRONG FINANCIAL PROFILE
Recent milestones & next steps 2019 Recognized revenues from launch of generic acyclovir cream,
5% (by Perrigo) Granted patent for TWYNEO® until 2038 Reported positive phase III results for TWYNEO® in acne vulgaris Reported positive phase III results for EPSOLAY® in papulopustular rosacea 2020 NDA submission for EPSOLAY® NDA
submission for TWYNEO® Initiated phase I PoC for SGT-210 in palmoplantar keratoderma 2021 Phase I results for SGT-210 in punctuate palmoplantar keratoderma type 1 NDA approval and commercial launch of TWYNEO® NDA approval and
commercial launch of EPSOLAY®
©2019 Sol-Gel Technologies Ltd. All Rights Reserved. EPSOLAY® is a registered trademark of Sol-Gel
Technologies Ltd. All other trademarks are the property of their respective owners. WWW.SOL-GEL.COM