Strathspey Crown Holdings LLC has acquired Evolus Inc of Santa Barbara, California. As part of the transaction, Strathspey Crown’s wholly owned subsidiary, ALPHAEON Corporation has received the exclusive license to market the botulinum toxin Type A product EVOSYAL in both the US and several international markets.
If approved, EVOSYAL™ will compete directly with Botox Cosmetic, Dysport, and Xeomin.
The new toxin was developed by Daewoong Pharmaceutical Co, Ltd in Seoul, South Korea. The exclusive license also includes certain rights associated with future neurotoxin developments by Daewoong Pharmaceutical.
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 US license to TEOXANE Laboratories’ full portfolio of next-generation Hyaluronic acid (HA)-based dermal fillers and cosmeceutical products.
If approved, EVOSYAL and TEOSYAL will be marketed side by side both in the US and internationally.
The American Society of Plastic Surgeons partnered with Strathspey Crown Holdings LLC earlier this year to provide additional capital to members so they have the resources to compete with cosmetic surgery franchises.