Published on April 2, 2013 at 8:24 AM
Revance Therapeutics, Inc. (Revance), a privately held specialty biopharmaceutical company developing novel botulinum toxin products for use in aesthetic and therapeutic indications, today announced that it has raised $33 million of its Series E growth financing. In addition, Revance announced the conversion of $71 million in convertible debt into the Series E preferred stock. This closing of the financing included significant investment from new investors as well as participation from existing institutional investors.
“We are pleased to welcome new shareholders to Revance as we continue our lead Phase 3 program, and are grateful for the ongoing support from our existing investors”
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.
"We are pleased to welcome new shareholders to Revance as we continue our lead Phase 3 program, and are grateful for the ongoing support from our existing investors," said Dan Browne, President and Chief Executive Officer of Revance. "We plan to utilize these funds to further expand our clinical trials that are underway and advance the development of our product candidates, RT001 and RT002."
SOURCE Revance Therapeutics, Inc.