Great Point Partners, LLC Beneficial Ownership Filing for Sol-Gel Technologies Ltd.

This filing reports that Great Point Partners, LLC, along with Dr. Jeffrey R. Jay, M.D. and Ms. Lillian Nordahl, has become a beneficial owner of 8.45% of Sol-Gel Technologies Ltd. ordinary shares. The total number of shares beneficially owned is 274,363. This ownership is held through investment management of Biomedical Value Fund, L.P. and Biomedical Offshore Value Fund, Ltd. The reporting persons have a shared power to vote and dispose of these shares. The filing is made in accordance with Rule 13d-1(c) of the Securities Exchange Act of 1934, with the reporting persons certifying that the shares were not acquired or held for the purpose of changing or influencing the control of the issuer.