Continuing to promote the development and layout of medical cosmetology Fosun Pharma Industrial Entered a License Agreement with Revance Therapeutics
On 5 December 2018, Shanghai Fosun Pharmaceutical (Group) Co., Ltd (“Fosun Pharma” or “Company”, stock code: 600196.SH, 02196.HK) announced that Shanghai Fosun Pharmaceutical Industrial Development Co., Ltd. (hereinafter “Fosun Pharma Industrial”), a wholly-owned subsidiary of the Company, has been granted a license by Revance Therapeutics, Inc. (hereinafter “Revance”) to exclusively commercialize (excluding manufacture, the same below) DaxibotulinumtoxinA for Injection (RT002), a botulinum toxin type A (hereinafter “RT002” or the “Product”) in the Field (i.e. aesthetic indications and therapeutic indications) in mainland China, Hong Kong and Macau.
Fosun Pharma Industrial shall pay Revance up to US$ 88 million license fees and make the corresponding sales milestone payments in accordance with the agreement.
Founded in 1999, Revance focuses on the research, development, production and commercialization of new botulinum toxin products for a variety of aesthetic and therapeutic indications.
RT002 is an injectable drug containing highly purified botulinum toxin type A (DaxibotulinumtoxinA) and is the only neuromodulator using a Revance proprietary stabilizing excipient peptide technology in its formulation, which results in high efficacy, long duration and provides two-year product stability requiring no refrigeration. Pre-clinical and clinical studies have shown that the Product can be used for aesthetic indications, such as eliminating moderate to severe glabellar lines; and therapeutic indications, such as cervical dystonia.
As of the date hereof, there are no products containing DaxibotulinumtoxinA (a botulinum toxin type A) marketed within China (excluding Hong Kong, Macao and Taiwan, the same below).
According to the latest data of IQVIA CHPA (provided by IQVIA, which is the world’s leading provider of professional information and strategic consulting services in the medical and healthcare industry), the sales of botulinum toxin type A for injection in China amounted to about RMB 234 million in 2017.
"Fosun Pharma is one of the leading healthcare companies in China, with the expertise and access to reach both the aesthetics and therapeutic markets. We see Fosun Pharma as an ideal partner to commercialize RT002 in the fast-growing Chinese market for neuromodulators, " said Dan Browne, president and chief executive officer at Revance. In fact, Fosun Pharma already has a growing portfolio of products in facial aesthetics where we plan to gain the first approval for RT002, backed by assets in a broad range of important therapeutics indications. We look forward to working with the Fosun Pharma team on the clinical, regulatory and commercial pathways to introduce RT002 in this important, developing geography."
"We are pleased to partner with Revance to bring a truly next generation neuromodulator to China," said Yifang Wu, president and chief executive officer of Fosun Pharma, the parent company of Fosun Pharma Industrial. "At Fosun Pharma, our values are based on the care for life, innovation, excellence and sustained partnership. Revance shares those values. The safety profile, high response rates and long duration of effect provides consumers and patients with an improved experience and gives us the confidence that RT002 will be a highly effective neuromodulator treatment."
About Revance Therapeutics, Inc.
Revance Therapeutics is an emerging Silicon Valley biotechnology leader developing neuromodulators for the treatment of aesthetic and therapeutic conditions. Revance uses a unique proprietary, stabilizing excipient peptide technology to create novel, differentiated therapies. The company’s lead compound, DaxibotulinumtoxinA for Injection (RT002), is in clinical development for a broad range of aesthetic and therapeutic indications, including glabellar lines, cervical dystonia, plantar fasciitis, upper limb spasticity and chronic migraine. RT002 has the potential to be the first long-acting neuromodulator. The company is advancing a robust pipeline of injectable and topical formulations of daxibotulinumtoxinA. More information on Revance may be found at www.revance.com.
Fosun Pharma Industrial shall pay Revance up to US$ 88 million license fees and make the corresponding sales milestone payments in accordance with the agreement.
Founded in 1999, Revance focuses on the research, development, production and commercialization of new botulinum toxin products for a variety of aesthetic and therapeutic indications.
RT002 is an injectable drug containing highly purified botulinum toxin type A (DaxibotulinumtoxinA) and is the only neuromodulator using a Revance proprietary stabilizing excipient peptide technology in its formulation, which results in high efficacy, long duration and provides two-year product stability requiring no refrigeration. Pre-clinical and clinical studies have shown that the Product can be used for aesthetic indications, such as eliminating moderate to severe glabellar lines; and therapeutic indications, such as cervical dystonia.
As of the date hereof, there are no products containing DaxibotulinumtoxinA (a botulinum toxin type A) marketed within China (excluding Hong Kong, Macao and Taiwan, the same below).
According to the latest data of IQVIA CHPA (provided by IQVIA, which is the world’s leading provider of professional information and strategic consulting services in the medical and healthcare industry), the sales of botulinum toxin type A for injection in China amounted to about RMB 234 million in 2017.
"Fosun Pharma is one of the leading healthcare companies in China, with the expertise and access to reach both the aesthetics and therapeutic markets. We see Fosun Pharma as an ideal partner to commercialize RT002 in the fast-growing Chinese market for neuromodulators, " said Dan Browne, president and chief executive officer at Revance. In fact, Fosun Pharma already has a growing portfolio of products in facial aesthetics where we plan to gain the first approval for RT002, backed by assets in a broad range of important therapeutics indications. We look forward to working with the Fosun Pharma team on the clinical, regulatory and commercial pathways to introduce RT002 in this important, developing geography."
"We are pleased to partner with Revance to bring a truly next generation neuromodulator to China," said Yifang Wu, president and chief executive officer of Fosun Pharma, the parent company of Fosun Pharma Industrial. "At Fosun Pharma, our values are based on the care for life, innovation, excellence and sustained partnership. Revance shares those values. The safety profile, high response rates and long duration of effect provides consumers and patients with an improved experience and gives us the confidence that RT002 will be a highly effective neuromodulator treatment."
About Revance Therapeutics, Inc.
Revance Therapeutics is an emerging Silicon Valley biotechnology leader developing neuromodulators for the treatment of aesthetic and therapeutic conditions. Revance uses a unique proprietary, stabilizing excipient peptide technology to create novel, differentiated therapies. The company’s lead compound, DaxibotulinumtoxinA for Injection (RT002), is in clinical development for a broad range of aesthetic and therapeutic indications, including glabellar lines, cervical dystonia, plantar fasciitis, upper limb spasticity and chronic migraine. RT002 has the potential to be the first long-acting neuromodulator. The company is advancing a robust pipeline of injectable and topical formulations of daxibotulinumtoxinA. More information on Revance may be found at www.revance.com.