Revance Therapeutics Inc announces the signing of a US distribution agreement with Teoxane SA, making Revance the exclusive commercialization partner of the Swiss company’s Resilient Hyaluronic Acid (RHA) technology.
Under the distribution agreement, Revance will gain immediate and exclusive rights to commercialize Teoxane’s RHA line of fillers in the US, starting with the US Food and Drug Administration (FDA)-approved RHA 2, RHA 3, and RHA 4 products, which include lidocaine, it notes in a media release.
The RHA line provides physicians with a broad range of uniquely designed gels for individualized treatment in the face. It was designed using a patented crosslinking method that preserves the hyaluronic acid network for correction of moderate-to-severe dynamic facial wrinkles and folds. The formulation optimizes strength, stretch and tissue integration.
The agreement also includes a fourth product, RHA 1, currently in clinical trials in the US with FDA approval anticipated in 2021, and includes an ongoing collaboration with Teoxane SA for a robust pipeline of additional indications and next-generation dermal filler technologies. Additionally, the agreement contains a right of first negotiation to access Teoxane’s novel cosmeceutical line that incorporates its propriety RHA technology.
In consideration for the US distribution rights for all of the above mentioned, Revance has agreed to issue 2.5 million shares of Revance common stock to Teoxane SA, the release explains.
“This is a transformational deal for Revance, giving us access to the fast-growing, billion-dollar US dermal filler market, with a line of highly differentiated fillers that are complementary to our first and only, long-lasting neuromodulator,” says Mark Foley, President and Chief Executive Officer of Revance.
“Valérie Taupin is a pioneer in the dermal filler market, and her company, Teoxane SA, is dedicated to creating new innovations and providing high-quality HA products to the aesthetic market. Importantly, both these RHA fillers and DAXI have the potential to deliver unique customer experiences. This deal provides commercial synergies, organizational leverage and fast-tracks the build-out of our sales organization. It also creates a broad foundation from which to launch DAXI upon anticipated approval later this year.”
“We are eager to introduce US physicians and consumers to our exciting, highly differentiated RHA range of dermal fillers,” states Valérie Taupin, Founder and Chief Executive Officer of Teoxane SA, in the release.
“The combination of our RHA filler range with Revance’s cutting-edge neuromodulator, DAXI, will create a premium facial injectable portfolio that we believe will be unrivaled in the industry. Teoxane SA and Revance have a shared passion for innovation, quality and excellence in aesthetic results.”
Revance has begun the build-out of a US commercial organization and is targeting the introduction of the Teoxane RHA fillers in the second quarter of 2020, followed by the launch of DAXI, upon regulatory approval, in the second half of 2020.
According to Dustin Sjuts, Chief Commercial Officer, Aesthetics and Therapeutics, “We’re excited to partner with Teoxane SA to launch this innovative Swiss technology in the US. Their next-generation, novel filler portfolio, sold in combination with DAXI, will position Revance as the premium brand in the US aesthetics facial injectable market.”
[Source: Revance Therapeutics Inc]