The acquisition adds Daxxify wrinkle treatment and the RHA Collection of dermal fillers to Crown Laboratories’ portfolio.

Summary:
Crown Laboratories has acquired Revance Therapeutics, adding Daxxify, an injectable wrinkle treatment, and the RHA Collection of dermal fillers to its portfolio. Revance’s common stock will be delisted from NASDAQ as part of the transaction. The companies announced the merger agreement last August. The acquisition expands Crown’s portfolio, which includes aesthetic and skincare brands such as SkinPen, PanOxyl, Blue Lizard, and StriVectin. Crown will continue Revance’s partnership with Teoxane SA for the US distribution of RHA dermal fillers.

Key Takeaways:

  • Crown Acquires Revance – The acquisition adds Daxxify and the RHA Collection to Crown Laboratories’ offerings.
  • Revance Stock Delisted – Revance’s common stock will be removed from NASDAQ and deregistered under federal securities regulations.
  • Business Operations Remain Unchanged – Crown will continue Revance’s partnership with Teoxane SA for US distribution of dermal fillers.

Crown Laboratories Inc, a privately held global skincare company, has acquired Revance Therapeutics Inc, a biotechnology company specializing in aesthetic and therapeutic offerings whose portfolio includes Daxxify for injection and the RHA Collection of dermal fillers. 

RHA technology is proprietary to and manufactured in Switzerland by Teoxane SA. Revance is an independent distributor of Teoxane SA for the RHA Collection of dermal fillers for US distribution. Revance had also partnered with Viatris Inc to develop a biosimilar to onabotulinumtoxinA, commonly known as Botox, for injection and Shanghai Fosun Pharmaceutical to commercialize Daxxify in China.

“We are excited to officially welcome Revance to the Crown family. This acquisition strengthens our leadership position and enhances our ability to deliver innovative solutions to customers, with what we believe is a comprehensive portfolio that represents the three pillars of facial aesthetics—relax, restore, and regenerate—and we will support these offerings with a highly trained and experienced sales force,” says Jeff Bedard, founder and chief executive officer of Crown, in a release. “We are well-positioned to become a global leader in the aesthetics and skincare industry and will leverage our combined resources to create long-term value for our stakeholders.”

Acquisition Brings Together Aesthetic and Skincare Brands

The companies announced they entered into a merger agreement last August, stating that the combination would provide an opportunity to create “a leading, innovative, high-growth aesthetics and skincare company,” with the combined company’s brands including Daxxify (toxin), the RHA Collection (filler), SkinPen (microneedling), PanOxyl (acne), Blue Lizard (sunscreen), and StriVectin (anti-aging).

According to a statement on Revance’s website, “The newly combined portfolio allows you, our practice partners, to achieve dynamic results and drive high patient satisfaction, growing your business through our differentiated brands and unwavering support.” The statement notes that all processes, support, and representation for each company remain the same until further notice. “We commit to clear communication and providing support throughout this process and will share more details as we have more information to share,” the statement reads.

Revance’s common stock will be delisted from the NASDAQ Global Select Market and deregistered under the Securities Exchange Act of 1934, as amended.

“We are thrilled to celebrate the successful completion of this transaction and to commence the integration of two innovative companies that we believe will create a leading player in the dynamic skincare and aesthetics markets,” says co-founders and managing partners Andrew Goldman and David Solomon of Hildred Capital, Crown’s parent company. “Crown remains committed to providing healthcare providers and aesthetic practices with outstanding science-based products. We are excited to bring together Revance’s and Crown’s aesthetic offerings, and we look forward to continuing Revance’s relationship with Teoxane to grow the RHA Collection by Teoxane in the US market.”

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