Foamix announces $16M investment by OrbiMed

Foamix Pharmaceuticals Ltd., an Israel-based clinical stage specialty pharmaceutical company with its U.S. headquarters in Bridgewater, announced it has raised $16 million by offering some of its shares to OrbiMed.

Foamix entered into a purchase agreement with OrbiMed under which it will sell 2.94 million shares for $5.50 per share to OrbiMed, or $16 million in total.