NEWARK, Calif., Sept. 22, 2014 (GLOBE NEWSWIRE) -- Revance Therapeutics, Inc. (Nasdaq:RVNC), a biopharmaceutical company developing botulinum toxin products for use in aesthetic and therapeutic indications, today announced Azita Nejad has been named its Vice President of Quality. In connection with her employment, the Compensation Committee of the Revance Board of Directors granted an inducement award pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
Ms. Nejad's 25 years of experience spans all aspects quality assurance and compliance, including the development and commercialization of biopharmaceuticals resulting from her tenure at Gilead, CV Therapeutics, and Nektar as well as a former consultant to Revance. She has both hands-on and management experience in validation and GMP inspection readiness across multiple active pharmaceutical ingredients and dosage forms and in-depth knowledge of U.S. and international regulations. She has been instrumental in gaining marketing applications approval and/or commercialization of several marketed products such as Sovaldi®, Stribild®, Complera®, Viread® Oral Powder, Ranexa®, and Retin-A Micro®. Ms. Nejad holds a BS in Chemistry from University of Colorado.
Ms. Nejad's employment with Revance began today, September 22, 2014, and her inducement awards consist of a stock option to purchase 22,000 shares of Revance common stock and 4,000 shares of restricted Revance common stock. Ms. Nejad's options will vest over a period of four years, with 25% vesting on September 22, 2015, and the balance vesting each month over the remaining three years. Her restricted stock also vests over a period of four years, with 25% vesting annually. These awards are subject to the terms and conditions of Revance's 2014 Inducement Plan. These awards are effective today, and the exercise price of the options will be today's closing price of Revance common stock on the NASDAQ Global Market. These awards were granted as an inducement material to Ms. Nejad's employment pursuant to Rule 5635(b)(4) of the NASDAQ Listing Rules.
About Revance Therapeutics, Inc.
Revance is a specialty biopharmaceutical company focused on the development, manufacturing and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications. Revance is leveraging its proprietary portfolio of botulinum toxin compounds combined with its patented TransMTS® peptide delivery system to address unmet needs in the large and growing aesthetic and therapeutic botulinum toxin market. Revance's proprietary TransMTS® technology enables transcutaneous delivery of botulinum toxin A, eliminating the need for injections. Revance's lead product candidate, RT001, is a topical formulation of botulinum toxin type A, which has the potential to be the first commercially-available non-injectable dose form. RT001 is being evaluated in a broad clinical program that includes aesthetic indications such as crow's feet lines (wrinkles around the eyes) and therapeutic indications such as hyperhidrosis (excessive sweating) and migraine headache. Revance's second product candidate is RT002, a novel injectable formulation of botulinum toxin type A designed to be more targeted and longer lasting than currently available botulinum toxin injectable products.
"Revance Therapeutics", TransMTS® and the Revance logo are registered trademarks of Revance Therapeutics, Inc. Other company and product names may be trademarks of their respective owners.
For more information, please visit: www.revance.com.