Strathspey Crown's Alphaeon Acquires Toxin Developer Evolus, Inc.

October 4, 2013

Strathspey Crown Holdings, LLC has acquired Evolus, Inc. of Santa Barbara, California for an undisclosed amount. As part of the transaction, Strathspey Crown's wholly-owned subsidiary, Alphaeon Corporation, has received the exclusive license to market, in both the US and several international markets, an advanced Botulinum toxin Type A neurotoxin developed by Daewoong Pharmaceutical Co., Ltd. (Seoul, South Korea), the leading South Korean pharmaceutical manufacturer. The Botulinum toxin Type A product will be marketed by Alphaeon under the brand name Evosyal. The exclusive license also includes certain rights associated with future neurotoxin developments by Daewoong Pharmaceutical.  
Strathspey Crown Chairman and Alphaeon Chief Executive Officer Robert E. Grant said, "Following extensive scientific and clinical review spanning several months, we are excited to acquire Evolus and have their team of expert neurotoxin scientists and clinicians join us to lead advances within the lifestyle healthcare industry. Evosyal represents the state of the art in both consistent manufacturability and potency as a 900 kDa neurotoxin molecular complex with high purity, both of which we believe will aid in achieving precise, predictable and long-lasting patient outcomes. Furthermore, we are pleased to partner with such a strong and reputable pharmaceutical company in Daewoong and look forward to a bright future together."  
Alphaeon Chief Medical Officer Ira Lawrence, MD, said, "Daewoong's reputation as a leader in R&D and its commitment to state-of-the-art manufacturing methods within a compliant quality system make it an excellent partner for Alphaeon. Our team is seeking the best lifestyle healthcare products to bring to market and Evosyal has demonstrated an excellent safety and efficacy profile as well as high purity.”
Evolus CEO J. Christopher Marmo, PhD, stated, "Our mission of advancing technology in aesthetic medicine is a perfect match for Alphaeon's emphasis on driving patient outcomes and experiences in lifestyle healthcare. We look forward to proceeding with the regulatory process to gain relevant approvals necessary to market Evosyal."  
Alphaeon's licensing of Evosyal marks the second major licensing transaction since the launch of Alphaeon in July 2013. In August 2013, Alphaeon acquired exclusive U.S. license to Teoxane Laboratories' full portfolio of next-generation Hyaluronic Acid (HA)-based dermal fillers and cosmeceutical products, marketed as Teosyal®. Pending approval by the U.S. Food and Drug Administration (FDA) and relevant international regulatory authorities, Evosyal and Teosyal will be marketed side by side both in the U.S. and internationally. Presently, Teosyal is a leading dermal filler in Europe and widely recognized for its smooth and long-lasting results.

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