Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) has announced the appointment of David Domzalski as its Chief Executive Officer. The appointment takes effect immediately. Foamix Pharmaceuticals Ltd is a clinical stage specialty pharmaceutical company engaged in developing and commercializing proprietary topical foams meant to address unmet demands in dermatology.
Currently Mr. Domzalski is the President of Foamix’s U.S. subsidiary. He will be filling the position left by Dr. Dov Tamarkin. Dr. Tamarkin will continue serving as a member of the Board of Directors and will also serve as Foamix’s Chief Scientific Advisor.
Additionally, the company has announced that Mr. Meir Eini will be stepping down from the current position of Chief Innovation Officer. He will however continue serving as Foamix’s Innovation Advisor. Mr. Ilan Hadar, the company’s current Chief Financial Officer will take over as the Country Manager in Israel.
In a statement, Foamix Board of Directors Chairman Dr. Stanley Hirsch congratulated Dov Tamarkin for his appointment adding that he has been dedicated and his contribution to the company is noticeable. He added that Dov has seen the company grow from a small privately held company in Israel into a fully integrated publicly traded company. The company has grown into a specialty pharmaceutical company with an innovative proprietary technology platform and two advanced clinical development programs currently in Phase 3. He added that the company’s board of director has seen it necessary to carry out some changes in its leadership structure as it focuses of completing its Phase 3 study for FMX103 and FMX101, expanding its portfolio and prepare for the next phase of growth.
On his part Dr. Tamarkin said that for the last 14 years, the company’s main mission has been to establish itself as a leading pharmaceutical company which is at the forefront of meeting the unmet demands of patients and healthcare providers. He added that during his time at Foamix he was committed to building a talented management team. He added that it is the right time for him to step down now that the company has an international presence and has managed to develop two late-stage products.