Friday, October 4, 2013

Evolus Acquired By Strathspey Crown

Santa Barbara-based Evolus, a company producing clinical neurotoxins, has been acquired by private equity investor Strathspey Crown. Financial details of the acquisition were not disclosed. Evolus had been partnered with Korean pharmaceuticals company Daewoong Pharmaceutical to manage clinical tests and regulatory approvals of Daewoong's Botulinum toxin Type A neurotoxin in the United States. The toxin is used widely in cosmetic surgery. According to Strathspey Crown, its subsidiary, ALPHAEON Corporation, has gained an exclusive license to market the neurotoxin in the U.S. and a number of international markets with the acquisition. Evolus had been founded by veterans from Allergan.