Journey Medical acquires VYNE's MST franchise for $20M upfront; credit facility expanded to $30M

Journey Medical Corp

Acquired AMZEEQ, ZILXI, FCD105, and MST platform for $20M upfront plus $5M at one year; contingent milestones up to $450M.
Products generated ~$4M net sales in Q3 2021; portfolio now includes nine marketed dermatology products.
Credit facility with East West Bank expanded to $30M: $10M revolver + $20M term loan to finance acquisition and working capital.
Journey substituted as plaintiff in patent litigation against Padagis over Amzeeq; trial set for July 2023, stay until Dec 2023.

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