REHOVOT, Israel. Sol Gel Technologies Ltd today announced the successful completion of an investment round of $9 million.

The funding will be used to accelerate Sol-Gel’s robust pipeline of innovative topical products for the dermatology market. The company’s pipeline includes a new generation of anti-acne kits that target the $1 billion acne therapy market.

“Even in the current global economic climate which has made investors become increasingly cautious and selective, Sol-Gel continues to stand out as an attractive investment opportunity. It has a proven set of technologies and a strong pipeline of products,” said Tamar Ciehanover, Chairperson of Sol-Gel.

The investment was led by Medica Venture Partners, a prominent Israeli venture capital firm, and included other existing investors.

About Sol-Gel

Sol-Gel Technologies is a specialty pharmaceuticals company that develops innovative topical products for the dermatology market using a proprietary set of controlled-delivery and stabilization systems by enhancing the efficacy and safety of drugs and enabling synergistic combinations of various pharmaceuticals, Sol-Gel is able to produce better products and improve their life cycle management.

Sol-Gel was founded in 1997 by Prof. David Avnir of the Hebrew University of Jerusalem and by Dr. Alon Seri-Levy, based on breakthrough technology developed by Prof. Avnir.