Medicis Pharmaceutical agreed to pay Revance Therapeutics $10 million upfront and up to $94 million in milestones for worldwide licensing rights to a preclinical botox therapy that may help erase wrinkles for longer periods than currently used injections.
In a release, the companies note that RT002 is an investigational, injectable neurotoxin that integrates Revance's botulinum toxin type A molecule with the TransMTS peptide technology. Preclinical data suggest that the TransMTS technology may enhance delivery of the drug to the target, which may help it work for a longer period with an improved safety profile. The botox market is expected to hit $1.4 billion in 2013. Revance recently posted positive data from a Phase IIb study of RT001, a new therapy for crow's feet wrinkles.
"As a market leader in aesthetic medicine, we are committed to providing our physicians with innovative and advanced technologies which can enhance the overall experience of their patients," says Medicis CEO Jonah Shacknai. "Additionally, we continue to be excited about our recent entrance into the botulinum toxin market, and look forward to furthering our strong collaborative relationship with our partners at Ipsen."
- check out the Medicis release