Revance Therapeutics, Inc., a Newark, California-based specialty biopharmaceutical company developing novel botulinum toxin products for use in aesthetic and therapeutic indications, raised $33m in Series E growth financing.
Revance also converted $71m in convertible debt into the Series E preferred stock.
The closing included investment from Essex Woodlands, NovaQuest Pharma Opportunities Fund, Delphi Ventures, Vivo Ventures, Technology Partners, Shepherd Ventures, Bio*One Capital and Pac-Link Ventures, Palo Alto Fund and other institutional investors.
Led by Dan Browne, President and CEO, Revance has developed a platform technology, TransMTS®, that enables local, targeted delivery of botulinum toxin and other potent macromolecules across skin without patches, needles or other invasive procedures.
The proceeds of the financing will be used to support US Phase 3 trials for the topical delivery of botulinum toxin type A to reduce the severity of crow’s feet wrinkles, as well as to support other neuromodulation clinical studies.