Searchlight Pharma, Inc.

If the momentum of investment continues, this year could surpass year-end totals seen in 2019 and 2023 ($8.2B and $10.7B, respectively), two years that can serve as comparable periods outside the pandemic, according to Rock Health's H1 2024 digital health funding report released this week. Digital health startups in the U.S. raised $5.7 billion across 266 deals in the first half of 2024. Seed, Series A and Series B funding accounted for 84% of investments, with Series A funding being most prevalent. Of those Series A raises, 38% went to startups leveraging artificial intelligence, and 34% of the total digital health funding seen in H1 went to companies utilizing AI. The rise of unlabeled deals continued in H1 2024 from early 2023, with 40%, or 107 deals, in H1 being unlabeled compared to 44% in 2023. The number of unlabeled deals has gradually increased since 2019, with 4% seen that year, rising to 7% in 2020, 19% in 2021, and 22% in 2022. Unlabeled deals can occur "when startups need access to capital but don’t meet benchmarks for their next labeled raise and/or are trying to delay tough conversations on topics like valuation," the report said. Unlabeled raises have declined in 2024, decreasing from 47% in Q1 of this year to 33% in Q2, which Rock Health previously predicted would occur. The top funding spot by value proposition went to digital health companies focused on disease treatments, totaling $1.1 billion, while mental health topped the list of highest-funded clinical indications, with $682 million raised. Three exits by digital health companies were seen in H1 2024, including those from the Nasdaq or NYSE, such as revenue cycle management company Waystar, remote pregnancy monitoring company Nuvo, and AI-powered data company Tempus AI. The three exits were the first seen in 21 months within the digital health sector. Acquisitions of digital health companies by fellow digital health firms dropped in H1 2024 to 34 deals as compared to the 83 deals seen in all of 2023; however, PE firms acquired ten digital health startups so far this year, more than the total seen in 2023 and on track to surpass 2021 and 2022 totals. "The digital health sector continues to demonstrate resilience and adaptability. Funding momentum (especially at the early stage) and the tapering of transition measures like unlabeled rounds hint that we might be returning to more “normal,” sustainable venture patterns," the report's authors wrote. "The first half of 2024 proved that digital health founders and investors have their eyes on the prize, which gives us confidence in what’s to come."

Acquisition marks a significant step in Apotex's growth strategy, advancing its position as a preferred Health Partner of Choice in the Americas. TORONTO, June 3, 2024 /PRNewswire/ - Apotex Inc. ("Apotex" or the "Company") today announced the successful completion of its acquisition of Searchlight Pharma Inc. ("Searchlight"), a leading Canadian specialty innovative branded pharmaceutical company. This acquisition accelerates the company's growth within the specialty innovative branded pharmaceutical market, reaffirming Apotex's commitment to delivering high-quality, innovative solutions to patients and consumers around the world. Searchlight is now operating as the Specialty Pharma Division of Apotex and will be led by Mark Nawacki, President of Searchlight. Apotex's expertise in generic and biosimilar pharmaceuticals, combined with Searchlight's strong specialty and innovative branded product portfolio, enhances the company's position as a pharmaceutical powerhouse in Canada. "This strategic move aligns with our vision to better serve patients and consumers along their health journey by adding a diverse portfolio of value add and specialty innovative branded products," stated Allan Oberman, President and CEO of Apotex. "We are pleased to welcome Searchlight to the Apotex team and look forward to leveraging the synergies between our teams to accelerate our continued growth." On May 24, 2024, Apotex entered its 50th year of business, marking a significant achievement rooted in improving patient access to affordable medicines. For five decades, Apotex has consistently expanded access to complex health products and remains committed to creating new products that address unmet medical needs, facilitating improved global access to essential pharmaceuticals. "Building on our 50-year legacy, this acquisition supports our renewed strategic focus to diversify beyond traditional generic pharmaceuticals, positioning Apotex as a Health Partner of Choice in the Americas," added Mr. Oberman. About Apotex Inc. Apotex is a Canadian-based global health company with a portfolio of generic, biosimilar, and innovative branded pharmaceutical products that meet a broad set of patient and consumer needs. Headquartered in Toronto, with regional offices globally, including in the United States, Mexico and India, and an extensive international distribution network, Apotex has led the Canadian generic pharmaceutical market for decades. As the largest Canadian-based pharmaceutical company and a health partner of choice for pharmaceutical licensing and product acquisitions, Apotex delivers high-quality, affordable and complex medicines around the world. Apotex is a portfolio company of SK Capital Partners. Learn more about Apotex's commitment over the last 50 years to improve everyday access to innovative medicines and health products at . SOURCE Apotex Inc.

NESS ZIONA, Israel, May 28, 2024 (GLOBE NEWSWIRE) -- Sol-Gel Technologies, Ltd. (NASDAQ: SLGL), a dermatology company, pioneering treatments for patients with severe skin conditions, conducting a Phase 3 clinical trial of SGT-610 (patidegib gel, 2%) for Gorlin syndrome, and with two approved large-category dermatology products, TWYNEO® and EPSOLAY®, today announced that it received a notification letter on May 21 2024, from the Nasdaq Stock Market LLC Listing Qualifications Department, stating that the Company is not in compliance with the requirement to maintain a minimum bid price of $1 per share, as set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules, since the closing bid price for the Company’s ordinary Shares listed on Nasdaq was below US$1.00 for 33 consecutive business days. Nasdaq’s notice has no immediate effect on the listing of the Company’s ordinary Shares, and the ordinary Shares continue to trade on the Nasdaq Global Market under the symbol "SLGL." In accordance with Listing Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a period of 180 calendar days from the date of notification, or until November 18, 2024, to regain compliance with the minimum bid price requirement. If at any time before November 18, 2024, the closing bid price of the shares is at least US$1.00 per share for a minimum of 10 consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement and will consider such deficiency matter closed. In the event the Company does not regain compliance by November 18, 2024, the Company may be eligible for an additional 180 calendar day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement. The Company intends to actively monitor the bid price for its ordinary shares and will evaluate all available options to resolve the deficiency and regain compliance with the minimum bid requirement. About Sol-Gel Technologies Sol-Gel Technologies, Ltd. is a dermatology company focused on identifying, developing, and commercializing or partnering drug products to treat skin diseases. Sol-Gel developed TWYNEO, which is approved by the FDA for the treatment of acne vulgaris in adults and pediatric patients nine years of age and older, and EPSOLAY, which is approved by the FDA for the treatment of inflammatory lesions of rosacea in adults. both drugs are exclusively licensed to and commercialized by Galderma in the US; and are exclusively licensed to Searchlight in Canada. TWYNEO was purchased and licensed by Beimei Pharma to be exclusively commercialized by them in China, Hong Kong, Macau, Taiwan and Israel. The Company’s pipeline also includes a Phase 3 clinical trial of Orphan and Breakthrough Drug candidate SGT-610, which is a new topical hedgehog inhibitor being developed to prevent the new basal cell carcinoma lesions in patients with Gorlin syndrome that is expected to have an improved safety profile compared to oral hedgehog inhibitors as well as topical drug candidate SGT-210 under investigation for the treatment of rare hyper-keratinization disorders. For additional information, please visit our new website: 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 the Company’s ability to regain compliance with the Nasdaq minimum bid price requirement and to maintain compliance with any of the other Nasdaq continued listing requirements. 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 expectations 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, the risk that the Company will not cure the Nasdaq minimum bid price requirement or maintain compliance with any of the other Nasdaq continued listing requirements, a delay in the timing of our clinical trials, the success of our clinical trials, and an increase in our anticipated costs and expenses, 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, the potential delay in receiving such regulatory approvals and the possibility of adverse regulatory or legal actions relating to our product candidates even if regulatory approval is obtained; (v) our collaborators’ ability to commercialize our pharmaceutical product candidates; (vi) our ability to obtain and maintain adequate protection of our intellectual property; (vii) our collaborators’ ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; (viii) our collaborators’ 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, China, Europe or Israel; and (xv) loss or retirement of key executives and research scientists; (xvi) general market, political and economic conditions in the countries in which the Company operates; and, (xvii) the current war between Israel and Hamas and any deterioration of the war in Israel into a broader regional conflict involving Israel with other parties. These factors 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 13, 2024, 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. Except as required by law, we undertake no obligation to update any forward-looking statements in this press release. Sol-Gel Contact :Gilad MamlokChief Financial Officerinfo@sol-gel.com+972-8-9313433 Source: Sol-Gel Technologies Ltd.