Strathspey Crown acquires Evolus

Strathspey Crown Holdings has acquired Evolus. No financial terms were disclosed. Also, ALPHAEON Corp., a subsidiary of Strathspey, has received a license to market an advanced Botulinum toxin Type A neurotoxin developed by South Korean-based Daewoong Pharmaceutical Co. The product will be marketed by ALPHAEON under the brand name EVOSYAL.

PRESS RELEASE

October 3, 2013, Newport Beach, CA — Strathspey Crown Holdings LLC, announced today that it has acquired Evolus, Inc. of Santa Barbara, California for an undisclosed amount. As part of the transaction, Strathspey Crown’s wholly-owned subsidiary, ALPHAEON Corporation, has received the exclusive license to market, in both the U.S. and several international markets, an advanced Botulinum toxin Type A neurotoxin developed by Daewoong Pharmaceutical Co., Ltd. (Seoul, South Korea), the leading South Korean pharmaceutical manufacturer. The Botulinum toxin Type A product will be marketed by ALPHAEON under the brand name EVOSYAL. The exclusive license also includes certain rights associated with future neurotoxin developments by Daewoong Pharmaceutical.
Strathspey Crown Chairman and ALPHAEON Chief Executive Officer Robert E. Grant said, “Following extensive scientific and clinical review spanning several months, we are excited to acquire Evolus and have their team of expert neurotoxin scientists and clinicians join us to lead advances within the lifestyle healthcare industry. EVOSYAL represents the state of the art in both consistent manufacturability and potency as a 900 kDa neurotoxin molecular complex with high purity, both of which we believe will aid in achieving precise, predictable and long-lasting patient outcomes. Furthermore, we are pleased to partner with such a strong and reputable pharmaceutical company in Daewoong and look forward to a bright future together.”
ALPHAEON Chief Medical Officer Ira Lawrence, M.D., said, “Daewoong’s reputation as a leader in R&D and its commitment to state-of-the-art manufacturing methods within a compliant quality system make it an excellent partner for ALPHAEON. Our team is seeking the best lifestyle healthcare products to bring to market and EVOSYAL has demonstrated an excellent safety and efficacy profile as well as high purity.”
Evolus CEO J. Christopher Marmo, Ph.D., stated, “Our mission of advancing technology in aesthetic medicine is a perfect match for ALPHAEON’s emphasis on driving patient outcomes and experiences in lifestyle healthcare. We look forward to proceeding with the regulatory process to gain relevant approvals necessary to market EVOSYAL.”
ALPHAEON’s licensing of EVOSYAL marks the second major licensing transaction since the launch of ALPHAEON in July 2013. In August 2013, ALPHAEON acquired exclusive U.S. license to TEOXANE Laboratories’ full portfolio of next-generation Hyaluronic Acid (HA)-based dermal fillers and cosmeceutical products, marketed as TEOSYAL®. Pending approval by the U.S. Food and Drug Administration (FDA) and relevant international regulatory authorities, EVOSYAL and TEOSYAL will be marketed side by side both in the U.S. and internationally. Presently, TEOSYAL is a leading dermal filler in Europe and widely recognized for its smooth and long-lasting results.
About ALPHAEON Corporation
ALPHAEON Corporation is a lifestyle healthcare company committed to partnering with board-certified physician specialists to bring to market and develop highly innovative technologies and services that promote patient wellness, beauty and performance. Ensuring access to leading advancements in lifestyle healthcare, the company fosters deep relationships with leading specialty physicians so patients look their best, feel their best and know they are receiving the best in lifestyle healthcare. For more information, please visit www.alphaeon.com.
About Strathspey Crown
Strathspey Crown is a growth equity firm specializing in lifestyle healthcare. Strathspey Crown uniquely partners with board-certified physician specialists to bring to market highly innovative technologies and services in the self-pay sector. The firm is founded in partnership with physician investors across three key medical specialties: plastic surgery, ophthalmology and dermatology. For more information visit www.strathspeycrown.com.
About Evolus, Inc.
Evolus Inc., founded in 2012, is headquartered in Santa Barbara, California. The company has a robust and experienced R&D team with international neurotoxin manufacturing, clinical and regulatory experience. Key management includes Chief Executive Officer J. Christopher Marmo, Ph.D., who previously led Allergan’s Medical Device R&D organization and was responsible for managing three FDA facial aesthetics clinical trials and obtaining two PMA approvals, and Chief Medical Officer John Gross, M.D., who chairs the Injectable Safety Coalition. On September 30, 2013, Evolus entered a partnership with Daewoong Pharmaceutical, the leading Korean pharmaceutical manufacturer, to manage the clinical tests and regulatory approvals of Daewoong’s neurotoxin in the U.S. and other international markets.