Strathspey Crown acquires Evolus
Strathspey Crown, a growth equity firm specializing in lifestyle healthcare, has acquired Evolus of Santa Barbara, Calif., for an undisclosed amount. Strathspey Crown's wholly-owned subsidiary Alphaeon, a lifestyle healthcare company, has received the exclusive license to market, in both the U.S. and several international markets, an advanced Botulinum toxin Type A neurotoxin developed by Daewoong Pharmaceutical, based in Seoul, South Korea. 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.
Robert E. Grant, Strathspey Crown chairman and Alphaeon CEO, said, "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.”
Alphaeon’s licensing of Evosyal marks the second major licensing transaction since the launch of Alphaeon in July. In August, 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 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 dermal filler in Europe.