Revance Therapeutics, Inc. has entered into a licenseagreement with Fosun Pharma. Under the terms of the agreement, Fosun Pharmagained exclusive rights to develop and commercialize Revance’s proprietaryDaxibotulinumtoxinA for Injection (RT002) in mainland China, Hong Kong andMacau (the Territory).
Revance will be responsible for manufacturing drug substance and finished drug product for both the clinical and commercial activities in the territory. Fosun Pharma will be accountable for carrying out essential clinical studies, marketing and sales in the territory. Intellectual property will not be transferred.
Fosun Pharma said that this cooperation is conducive to enriching the Group’s product line in the field of medical beauty, and continues to actively support and promote the company’s development and layout in the field of medical beauty.
RT002 is a long-acting neuromodulator developed in theclinical research phase based on Revance’s proprietary technology platform. Its medicinal active ingredient is Daxibotulinumtoxin botulinum toxin type A; itspreparation does not contain anybody. A blood-derived substance or protein of animal origin and capable of maintaining two years of stability without refrigeration.
The results of preclinical and clinical studies that have been completed in the United States indicate that the product can be used for cosmetic indications such as elimination of moderate to severe eyebrow lines; and treatment indications such as cervical dystonia.
Fosun Pharma shall pay up to US$88 million in licensing fees and pay corresponding sales milestones in accordance with the relevant Revance. Up to now, there are no products containing Daxibotulinumtoxin type A botulinum toxin in China (excluding Hong Kong, Macao and Taiwan).
As of December 4, RT002 has completed Phase III clinical studies for moderate to severe eyebrow lines in the United States, as well as a Phase II clinical study of cervical dystonia. At present, there is no product containing botulinum toxin of Daxibotulinumtoxin type A in mainland China. The similar products listed on the botulinum toxin type A include Allerganplc’sBotox type botulinum toxin and Lanzhou Institute of Biological Products Co.
According to the latest data of IQVIA CHPA (provided by IQVIA, the world’s leading provider of professional information and strategic consulting services for the pharmaceutical health industry), the sales amount of Botox A for injection in China in 2017 was approximately RMB 234 million.
Revance’s President and CEO Dan Browne said that China’s medical beauty equipment market is booming. The company is looking forward to work with Fosun Pharma to open RT002 clinical trials, registration approval and business in China.
Fosun Pharma’s President and CEO Wu Yifa said that the company is very honored to cooperate with Revance to bring more efficient, safer and better quality neuromodulation products to domestic consumers and patients. Our product line in the medical and cosmetic field continues to actively support and promote the development and layout in the field of medical beauty, providing more choices for the unmet needs of the market. Fosun Pharma is a wholly-owned subsidiary of ShanghaiFosun Pharmaceutical Industrial Development Co., Ltd. The group is a