MOUNTAIN VIEW, Calif.--(Business Wire)--
Revance Therapeutics, Inc. ("Revance") today announced the
completion of an additional $8 million investment to the Series C
financing that was completed in December 2007. The expansion led by
Bio*One Capital brings the total Series C to $51.2 million. The
financing included returning investors, Essex Woodlands Healthcare
Ventures, Vivo Ventures, Technology Partners, Shepherd Ventures, Palo
Alto Investors, and new investors, Medicis Pharmaceutical Corporation,
Bio*One Capital and Pac-Link Ventures.
"We are very pleased to complete this Series C financing with
additional participation from Bio*One Capital and Pac-Link Ventures,"
said Dan Browne, President & Chief Executive Officer of Revance. "The
additional investment capital from the financing, as well as the
BioMed Realty Trust transaction announced last month, will allow
Revance to expand its botulinum toxin clinical programs and product
pipeline. We believe the application of botulinum toxin type A without
an injection using Revance's MTS technology, as well as the
development of new botulinum toxin molecules, will be of interest
globally and play a major role in the development of new non-invasive
treatment alternatives."
In addition to the financing, Revance and Bio*One Capital will
explore opportunities to establish operations in Asia for the purpose
of developing and commercializing aesthetic medicine products based on
Revance's proprietary MTS drug delivery technology. Revance will
examine the potential of certain therapeutic agents and MTS delivery
to address other large unmet needs within aesthetic and therapeutic
dermatology.
"We are excited by the key differentiating advantages of Revance's
MTS technology," said Swee-Yeok Chu, Chief Executive of Bio*One
Capital. "We believe that these will give the company a competitive
edge when developing new products for the large and growing Asian
markets for aesthetic medicines."
About Revance
Revance Therapeutics, Inc. ("Revance") is a privately held
specialty biopharmaceutical company focused on developing innovative
products in the aesthetic medicine category. Revance has developed a
platform technology allowing non-invasive transcutaneous delivery of
botulinum toxin molecules and other potent macromolecules across skin
and barrier membranes. This novel technology enables local, targeted
drug delivery without patches, needles or other invasive procedures.
Revance has exclusive worldwide rights to novel botulinum toxin type A
proteins for use worldwide across topical and injectable dose forms
and all cosmetic and therapeutic indications. Revance has
clinical-stage programs in facial aesthetics and hyperhidrosis, and
preclinical programs in hyperpigmentation and acne, and our
over-the-counter skin care brand RELASTIN(TM).
About Bio*One Capital Pte Ltd
Bio*One Capital is a leading, dedicated biomedical sciences
investment management company in Asia with a worldwide presence.
Bio*One Capital's investments are focused on promising global
biomedical companies where Bio*One Capital can play a value adding
role in bridging and supporting companies' growth strategies in Asia.
Through its extensive networks, Bio*One Capital facilitates partnering
and collaborative opportunities to help its portfolio companies grow
into sustainable and successful ventures. For more information, please
visit http://www.bio1capital.com.
RELASTIN is a trademark of Revance Therapeutics, Inc.
Revance Therapeutics, Inc.
Niquette Hunt, 650-230-4500
VP of Marketing and Business Development
Copyright Business Wire 2008
