Revance Raises $25M in Series D Financing
Published On January 4, 2010 |
Revance Therapeutics, Inc., a Newark, CA-based biopharmaceutical company, announced the first $25m closing of a $35m Series D financing.
The round was led by Essex Woodlands Health Ventures Fund VIII. The financing included returning investors Essex Woodlands Fund V, Vivo Ventures, Technology Partners, Shepherd Ventures, Palo Alto Investors, Bio*One Capital and Pac-Link Ventures.
The total Series D financing is expected to reach $35m with the participation of new investors and close in approximately ninety days.
In conjunction with the financing, Ron Eastman, Managing Director at Essex Woodlands, will join the Revance Board of Directors.
Revance has developed a proprietary technology that enables delivery of large macromolecules across skin. Their lead product, RT001, a Botulinum Toxin Type A Topical Gel designed to reduce crow’s feet wrinkles by temporarily relaxing the muscles around the eye, has demonstrated safety and statistically significant efficacy in Phase 2 clinical trials.
The funds will enable the company to take RT001 to Phase 3 studies, as well as expand its RT001′s program internationally.