Item 1.01 Entry into a Material Definitive Agreement.
On April 30, 2021, VYNE Therapeutics Inc. (the "Company") entered into an
Evaluation and Option Agreement (the "Option Agreement") with In4Derm Limited
("In4Derm"), a company incorporated in Scotland. In4Derm is a spin-out of the
University of Dundee's School of Life Sciences and has discovered and is
developing proprietary Bromodomain and Extra-Terminal Domain inhibitors ("BETi")
for the treatment of immunology and oncology conditions. Pursuant to the Option
Agreement, In4Derm granted the Company an exclusive option to obtain certain
exclusive worldwide rights to research, develop and
commercialize products containing In4Derm's BETi compounds, which are new
chemical entities ("NCE"), in both topical (the "Topical BETi Option") and oral
(the "Oral BETi Option") formulations for the treatment of any disease, disorder
or condition in humans. Pursuant to the Option Agreement, the Company agreed to
use commercially reasonable efforts to stabilize, develop and manufacture a
topical product with a Topical BETi Compound (as defined in the Option
Agreement) as its active ingredient and In4Derm agreed to provide a mutually
agreed data package and select an NCE development candidate from the Oral BETi
Compounds (as defined in the Option Agreement). The Company paid a $1.0 million
non-refundable cash payment to In4Derm upon execution of the Option Agreement,
50% of which is to be used by In4Derm in the development of the Oral BETi
Compounds.

Topical BETi Program



On August 6, 2021, the Company exercised the Topical BETi Option and, on August
9, 2021, the parties entered into a License Agreement (the "Topical License
Agreement") granting VYNE a worldwide, exclusive license that is sublicensable
through multiple tiers to exploit certain of In4Derm's BETi compounds identified
to be suitable for topical administration in all fields. The Company has the
sole responsibility for development, regulatory, marketing and commercialization
activities to be conducted for the licensed topical products at the sole cost
and discretion of the Company, and shall use commercially reasonable efforts to
develop and, if approved, commercialize such topical products. Pursuant to the
Topical License Agreement, a joint development committee consisting of one
representative from each party reviews the progress of the development plan for
the licensed topical products.

The Company made a $0.5 million cash payment to In4Derm in connection with the
exercise of the Topical BETi Option. Pursuant to the Topical License Agreement,
the Company has agreed to make cash payments of up to an aggregate of $15.75
million upon the achievement of specified clinical development and regulatory
approval milestones with respect to each licensed topical product in the U.S.
In4Derm is entitled to additional milestones upon the achievement of regulatory
approvals in certain jurisdictions outside the U.S. In addition, with respect to
any products the Company commercializes under the
Topical License Agreement, the Company will pay tiered royalties to In4Derm on
net sales of such licensed products by the Company, its affiliates, or
sublicensees, of 5%, 7.5% and 10% based on tiered annual net sales bands subject
to specified reductions. The Company is obligated to pay royalties until the
later of (1) the tenth anniversary of the first commercial sale of the relevant
licensed product, (2) the expiration of the last valid claim of the licensed
patent rights covering such licensed product in such country and (3) the
expiration of regulatory exclusivity for the relevant licensed product in the
relevant
country, on a licensed product-by-licensed product and country-by-country basis.

Oral BETi Program



Under the terms of the Option Agreement, the Oral BETi Option expires upon the
earlier of (i) 14 days following the delivery of an agreed data package and
selection of a lead NCE candidate by In4Derm and (ii) June 30, 2022. The Company
expects to exercise the Oral BETi Option following the selection of a lead
candidate for the program. Upon exercise of the exclusive Oral BETi Option, the
parties will sign a license agreement (the "Oral License Agreement") and the
Company will pay In4Derm a $4.0 million cash payment. The Oral License Agreement
will include cash payments payable to In4Derm of up to an aggregate of $43.75
million upon the achievement of specified clinical development and regulatory
approval milestones with respect to each licensed oral product in the U.S.
In4Derm is entitled to additional milestones upon the achievement of regulatory
approvals in certain jurisdictions outside the U.S. In addition, with respect to
any products the Company commercializes under the Oral License Agreement, the
Company will pay tiered royalties to In4Derm on net sales of such licensed
products by the Company, its affiliates, or sublicensees, of 5%, 7.5% and 10%
based on tiered annual net sales bands subject to specified reductions.

The foregoing descriptions of the Option Agreement and the Topical License
Agreement do not purport to be complete and are qualified in their entirety by
reference to the complete text of the Option Agreement and Topical License
Agreement, copies of which will be filed with the Company's Quarterly Report on
Form 10-Q for the period ending September 30, 2021. The terms of the Oral
License Agreement and a copy thereof will be filed once the parties execute
definitive documentation.


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Item 2.02 Results of Operations and Financial Condition.
On August 12, 2021, VYNE Therapeutics Inc. issued a press release announcing its
financial results for the quarter ended June 30, 2021. The press release is
being furnished as Exhibit 99.1.
The information in Item 2.02 of this Form 8-K and Exhibit 99.1 attached hereto
shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that Section, or incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, except as
shall be expressly set forth by specific reference in such a filing.
Item 7.01 Regulation FD Disclosure.
On August 12, 2021, the Company issued a press release entitled "VYNE
Therapeutics Announces Licensing of BET Inhibitor Platform for
Immuno-Inflammatory Conditions with In4Derm Limited." A copy of the Company's
press release is being furnished as Exhibit 99.2 to this Form 8-K.
In addition, members of management of the Company will begin using the slides
attached as Exhibit 99.3 to this report in connection with investor meetings.

The information in this Item 7.01 and Exhibits 99.2 and 99.3 hereto is being
furnished and shall not be deemed "filed" for purposes of Section 18 of the
Exchange Act, or otherwise subject to the liability of that section, nor shall
they be deemed incorporated by reference in any of the Company's filings under
the Securities Act of 1933, as amended, or the Exchange Act, except as expressly
set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being furnished herewith.
Exhibit No.           Description

99.1                    Press release, dated August 12, 2021.

                        Press release entitled "VYNE Therapeutics Announces Licensing of BET Inhibitor
99.2                  Platform for Immuno-Inflammatory Conditions with In4Derm Limited."

99.3                    Slides discussing Bromodomain and Extra-Terminal Domain inhibitors.

104                   Cover Page Interactive Data File (embedded within the

Inline XBRL document)

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