Revance Therapeutics develops novel botulinum toxin products and a TransMTS® delivery platform intended to enable local, targeted transdermal delivery without needles. Its lead investigational product, RT001 topical gel, is in U.S. Phase 3 trials for crow’s feet and in Phase 2 for hyperhidrosis and chronic migraine. RT002 is an injectable neurotoxin combining Revance’s purified botulinum toxin with TransMTS peptide technology and is in Phase 1/2 trials. The company plans to use recently raised proceeds to support its U.S. Phase 3 RT001 program and other neuromodulation clinical studies. Revance states the financing will further expand ongoing clinical trials and advance development of RT001 and RT002. The company is privately held and is conducting multiple clinical programs concurrently. Revance Therapeutics is a privately held specialty biopharmaceutical company that developed the TransMTS™ platform to enable local, targeted delivery of large macromolecules across skin. Its lead investigational product, RT001 Botulinum Toxin Type A Topical Gel, demonstrated safety and statistically significant efficacy in Phase 2 clinical trials. Revance is also developing RT002, a next‑generation injectable botulinum toxin that integrates the TransMTS technology to improve onset of action, increase duration of effect, and limit diffusion away from the treatment site. The company manufactures and holds exclusive, worldwide rights to a family of purified, well‑characterized botulinum toxin molecules that could be used across a range of therapeutic indications, including migraine and rhinitis. Revance plans to advance both its topical and injectable neuromodulation pipeline across aesthetic and therapeutic categories through further late‑stage development. A $45 million financing announced concurrently with the press release will support those development efforts. Revance Therapeutics has developed a proprietary technology that enables delivery of large macromolecules across skin. Its lead product, RT001, is a Botulinum Toxin Type A topical gel intended to reduce crow’s feet by temporarily relaxing muscles around the eye. RT001 demonstrated safety and statistically significant efficacy in Phase 2 clinical trials. The company announced a first $25M closing of a Series D financing (targeting $35M total) to fund next steps. Proceeds are intended to enable RT001’s advancement into Phase 3 studies and to support international expansion of the RT001 program. In conjunction with the financing, Ron Eastman of Essex Woodlands will join Revance’s board of directors. Revance Therapeutics is developing a topical formulation of botulinum toxin type A intended to deliver Botox-like results without injections. The company is also testing its TransMTS technology to enable large botulinum molecules to cross the skin. Revance aims to address low adoption of injected Botox—only about 10% of the targeted market (approximately 25 million women) has used it—citing health concerns and discomfort as barriers. The newly raised capital will advance the lead topical compound through clinical-stage trials. Revance is Mountain View, Calif.–based and has raised $64 million to date from a range of contributors. Its current financing adds venture debt to its funding mix to support near-term clinical development.

Total raised

$182M

Funding rounds

5

Latest round

Series E

Latest activity

Apr 2013