Revance Expands Botulinum Toxin Assets by Acquiring Intellectual Property (IP) Portfolio
June 02 2016 - 6:13PM
- Portfolio covers diverse and novel indications,
compositions and formulations -
Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology company
developing botulinum toxin products for use in aesthetic and
therapeutic indications, today announced that it expanded its
botulinum toxin-related assets by acquiring a portfolio of
botulinum toxin-related patents and patent applications. The
portfolio, acquired from Botulinum Toxin Research Associates, Inc.
(BTRX), of Quincy Massachusetts, covers novel formulations and
diverse therapeutic indications, including inflammation, pain,
neurological and mood/depression. With the acquisition of more than
70 additional patents and patent applications, Revance’s patent
portfolio now exceeds 330, and is one of the largest patent
portfolios in the neuromodulation field. Terms of the acquisition
include a $2 million upfront payment to BTRX, plus potential
milestone payments on future sales and other clinical and
regulatory events.
“Acquiring BTRX’s patent portfolio enhances our ability to
develop and commercialize new indications for Revance’s unique
daxibotulinumtoxinA product candidates,” said Dan Browne, President
and Chief Executive Officer of Revance. “It’s worth noting that Dr.
Gary Borodic has been a major contributor to BTRX, and has been
instrumental in demonstrating the clinical effectiveness of
botulinum toxin and greatly enhancing the understanding of its
mechanism of action. Dr. Borodic is a Surgeon in Ophthalmology at
the Massachusetts Eye and Ear Infirmary and an Assistant Professor
at the Harvard Medical School. He has been a member of the American
Society of Ophthalmic Plastic and Reconstructive Surgeons for over
25 years.”
“Revance is quickly advancing one of the most differentiated and
versatile pipelines of neurotoxin drug product candidates for
advancing patient care,” Dr. Borodic commented. “Revance has the
potential to transform and substantially broaden the use of
botulinum toxin. I am pleased the company shares my long-standing
passion and commitment to develop new uses for the neurotoxin
platform.”
About Revance Therapeutics, Inc. Revance, a
Silicon Valley-based biotechnology company, is committed to the
advancement of remarkable science. The company is developing
a portfolio of products for aesthetic medicine and underserved
therapeutic specialties, including dermatology and neurology.
Revance's trajectory to commercial success begins with the
company's novel and proprietary TransMTS® carrier-peptide delivery
system, which is uniquely designed to target and transport
macromolecules to their desired location.
Revance's journey to market starts with the neurotoxin
daxibotulinumtoxinA, the company's highly purified botulinum toxin
type A. The TransMTS technology is used in the delivery of
botulinum toxin through two novel drug product candidates:
DaxibotulinumtoxinA Topical Gel (RT001) which permits needle-free
application, and DaxibotulinumtoxinA for Injection (RT002), which
is designed to enable targeted administration and long-lasting
effect.
Revance is developing RT001 and RT002 for a broad spectrum of
aesthetic and therapeutic indications, including facial wrinkles,
excessive sweating and muscle movement disorders. The company holds
worldwide rights for all indications of RT001, RT002 and the
TransMTS technology platform. Beyond botulinum toxin, Revance
believes the TransMTS technology can be applied to transdermal,
mid-dermal, or deep tissue delivery of a variety of other
macromolecules. More information on Revance can be found at
www.revance.com.
"Revance Therapeutics", TransMTS®, "Remarkable Science Changes
Everything", and the Revance logo are registered trademarks of
Revance Therapeutics, Inc.
A link to the Revance R&D Pipeline can be found
here http://www.globenewswire.com/NewsRoom/AttachmentNg/823d637f-d5eb-4526-bb7e-940da820a349
Forward Looking Statements This press release
contains forward-looking statements, including statements related
to the BTRX IP portfolio, its potential impact on Revance
Therapeutics' business and development treatment indications and
product candidates, the process and timing of, and Revance
Therapeutics' ability to complete, current and anticipated future
clinical development of our investigational drug product
candidates, including but not limited to initiation and design of
clinical studies for current and future indications, related
results and reporting of such results; statements about our
business strategy, timeline and other goals and market for our
anticipated products, plans and prospects; and statements about our
ability to obtain regulatory approval; and potential benefits of
our drug product candidates and our technologies.
Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from our expectations. These risks and uncertainties include, but
are not limited to: the outcome, cost, and timing of our product
development activities and clinical trials; the uncertain clinical
development process, including the risk that clinical trials may
not have an effective design or generate positive results; our
ability to obtain and maintain regulatory approval of our drug
product candidates; our ability to obtain funding for our
operations; our plans to research, develop, and commercialize our
drug product candidates; our ability to achieve market acceptance
of our drug product candidates; unanticipated costs or delays in
research, development, and commercialization efforts; the
applicability of clinical study results to actual outcomes; the
size and growth potential of the markets for our drug product
candidates; our ability to successfully commercialize our drug
product candidates and the timing of commercialization activities;
the rate and degree of market acceptance of our drug product
candidates; our ability to develop sales and marketing
capabilities; the accuracy of our estimates regarding expenses,
future revenues, capital requirements and needs for financing; our
ability to continue obtaining and maintaining intellectual property
protection for our drug product candidates; and other risks.
Detailed information regarding factors that may cause actual
results to differ materially from the results expressed or implied
by statements in this press release may be found in Revance's
periodic filings with the Securities and Exchange
Commission (the "SEC"), including factors described in the
section entitled "Risk Factors" of our annual report on Form 10-K
filed March 4, 2016 and quarterly report on Form 10-Q filed
May 10, 2016. These forward-looking statements speak only as of the
date hereof. Revance disclaims any obligation to update these
forward-looking statements.
Contacts
Investors:
Revance Therapeutics
Jeanie Herbert
(714) 325-3584
jherbert@revance.com
Burns McClellan
Ami Bavishi
(212)213-0006
abavishi@burnsmc.com
Trade Media:
Nadine Tosk
(504) 453-8344
nadinepr@gmail.com
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