Menlo Therapeutics Inc. announces the completion of its merger with Foamix Pharmaceuticals Ltd. following the satisfaction of all closing conditions required by the merger agreement. Upon completion of the merger, pursuant to the terms of the merger agreement, Foamix became a wholly owned subsidiary of Menlo. Effective upon the closing of the merger, Foamix's management team will manage the Company, led by David Domzalski as Chief Executive Officer.

As part of the transaction, Foamix has designated five of its pre-closing directors, David Domzalski, Sharon Barbari, Rex Bright, Anthony Bruno and Stanley Hirsch to serve as members of the Menlo Board of Directors. Menlo has designated two of its pre-closing directors, Steve Basta, Menlo's Chief Executive Officer prior to the consummation of the merger, and Elisabeth Sandoval, to be directors of the Company following the merger. In accordance with the Merger Agreement, on March 9, 2020, immediately prior to the Effective Time, Mr. Basta resigned as President, Chief Executive Officer and Principal Executive Officer, Kristine Ball resigned as Senior Vice President, Corporate Strategy, Chief Financial Officer and Principal Financial and Accounting Officer, Paul Kwon resigned as Chief Scientific Officer, and Paul Berns, Ted Ebel, David McGirr and Scott Whitcup resigned from the Board and any respective committee of the Board to which they belonged, which resignations were not the result of any disagreements with the Company relating to the Company's operations, policies or practices.

Ilan Hadar is the Company's Chief Financial Officer. From February 2014 until the Closing Date, Mr. Hadar served as the Chief Financial Officer of Foamix. He also served as Foamix's Israel Country Manager beginning in July 2017.

Mutya Harsch is the Company's General Counsel and Chief Legal Officer. From January 2019 until the Closing Date, Ms. Harsch served as the General Counsel and Chief Legal Officer of Foamix. She previously served as Foamix's General Counsel and Senior Vice President of Legal Affairs from January 2018 to January 2019.

Ms. Harsch has over 19 years of legal experience, previously holding positions as Special Counsel, Mergers & Acquisitions at Cooley LLP from 2015 to 2017 and as a corporate lawyer at Davis Polk & Wardwell from 2005 to 2015. Iain Stuart, Ph.D. is the Company's Chief Scientific Officer. From January 2019 until the Closing Date, Dr. Stuart served as the Chief Scientific Officer of Foamix.

Dr. Stuart previously served as Foamix's Senior Vice President of Research & Development from August 2017 to January 2019 and as Vice President of Clinical Development from October 2016 to 2017. Prior to joining Foamix, Dr. Stuart held several positions, including Vice President of Medical Strategy and Scientific Affairs at LEO Pharma Inc. from 2008 to 2016. Matthew Wiley is the Company's Chief Commercial Officer.

From November 2018 until the Closing Date, Mr. Wiley served as the Chief Commercial Officer of Foamix. Mr. Wiley has more than 20 years of commercial experience across a broad range of specialty pharmaceutical categories. Prior to joining Foamix, Mr. Wiley held several positions of increasing responsibility at Jazz Pharmaceuticals from 2012 to 2018, including as Vice President of Marketing and Business Unit Lead for the company's sleep disorder portfolio.

In accordance with the Merger Agreement, on March 9, 2020, effective immediately after the Effective Time, the following individuals were appointed to the Board as non-employee directors: Stanley Hirsch, D.Phil. served as a director of Foamix from February 2005 until the Closing Date and as its chairman since May 2016. Dr. Hirsch has over 30 years of experience in executive positions, including director of business development for a privately held group of healthcare companies.

He has also served as general manager of two diagnostics development companies. Dr. Hirsch has served as Chief Executive Officer of FuturaGene Ltd. and its predecessor company, CBD Technologies Ltd., since 1995, and has also held the position of General Manager of Portman Pharmaceutical Industries. Rex Bright served as a director of Foamix from September 2014 until the Closing Date.

Mr. Bright is currently retired, but previously held chief executive officer positions in the health care industry for over 20 years. Mr. Bright was the co-founder and Chief Executive Officer of SkinMedica, a specialty pharmaceutical business that was later acquired by Allergan in 2012. Mr. Bright also held executive positions for Johnson & Johnson and GlaxoSmithKline.

Mr. Bright previously served as a director of RestorGenex Corporation until 2016 when the company was acquired. Anthony Bruno aserved as a director of Foamix from November 2018 until the Closing Date. Mr. Bruno also served as a strategic advisor to Foamix from 2014 until August 2018.

Mr. Bruno is currently retired. He previously served as a strategic consultant to various healthcare-focused investment funds from 2011 to January 2018 and was employed at Warner Chilcott from 2000 to 2011, most recently as Executive Vice President, with responsibility for all business development activities including product acquisitions and divestitures as well as licensing agreements. Mr. Bruno also spent 16 years at Warner Lambert, holding several positions of increasing strategic responsibility.

Mr. Bruno began his legal career as an associate with Shearman & Sterling. Sharon Barbari served as a director of Foamix from January 2019 until the Closing Date. She is currently retired.

She previously served as the Executive Vice President of Finance and Chief Financial Officer of Cytokinetics Inc. from July 2009 to July 2017, and prior to then, she served as Senior Vice President of Finance and Chief Financial Officer from September 2004 through June 2009. From September 2002 to August 2004, Ms. Barbari served as Chief Financial Officer and Senior Vice President of Finance and Administration of InterMune Inc.