Revance out-licenses its Botox rival in China
US biotech firm Revance Therapeutics (Nasdaq: RVNC) saw its shares leap 19.5% to $24.91 by close of trading Tuesday, after it announced a licensing deal for its Botox rival (RT002 and some positive new clinical data for the investigational compound.
Revance has entered into a license agreement with a wholly-owned subsidiary of Fosun Pharma (HK: 02196) with the exclusive rights to develop and commercialize Revance’s proprietary daxibotulinumtoxinA for Injection (RT002) in mainland China, Hong Kong and Macau (the Territory).
RT002 is a novel, long-lasting neuromodulator in development for the treatment of aesthetic conditions, including glabellar and upper facial lines, and neuroscience conditions including cervical dystonia, plantar fasciitis, adult upper limb spasticity and chronic migraine.
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