IRVINE, Calif., May 5, 2017 /PRNewswire/ -- ALPHAEON Corporation (www.alphaeon.com) announced completion of a private placement of Secured Convertible Notes in a financing transaction led by existing investor Dental Innovations BVBA alongside Sailing Capital, Longitude Capital Management Co., LLC and other current investors. In addition to the funds provided at closing, future tranches of financing are subject to regulatory milestones related to its DWP-450 (Botulinum toxin Type A) product candidate for the treatment of adult patients with glabellar lines, also known as frown lines between the eyebrows. Specific terms of the transaction were not disclosed.
ALPHAEON Chief Executive Officer Murthy Simhambhatla said, "We are excited that our existing investors have reinforced their confidence and support for ALPHAEON through a financing program that we believe puts us in a good position to fund the company through FDA approval of our DWP-450 product candidate."
ALPHAEON Chairwoman and Co-Owner of Dental Innovations, Simone Blank said, "We are very pleased with the progress the company has made including the on-target completion of the DWP-450 Phase III trials. We are confident in management's ability to continue to advance the DWP-450 program with the next step being the submission of the Biologics License Application to the FDA."
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About ALPHAEON Corporation
ALPHAEON Corporation is a privately held company focused on bringing highly innovative products and services to the aesthetics market. ALPHAEON's lead product candidate is DWP-450, a Botulinum toxin Type A for the treatment of glabellar lines. For more information, please visit www.alphaeon.com.
About Dental Innovations BVBA
Dental Innovations is a privately held investment company located in Belgium. One of its focus areas is innovative healthcare solutions.
About Sailing Capital
Founded in 2012, Sailing Capital, with offices in Hong Kong and Shanghai, is a global private equity firm affiliated with Shanghai International Group ("SIG"), the financial holding arm of the Shanghai Municipal Government. In addition to SIG, Sailing's LPs also include some of the most successful and influential companies in China. Sailing is actively deploying capital from its inaugural fund, primarily in growth equity and buyout investments outside of China. Sailing invests across all industries and has a strong focus on technology, healthcare, and consumer sectors. Sailing seeks to enhance investment returns by leveraging unique corporate and government relationships in China and abroad.
About Longitude Venture Partners
Longitude Capital is a private investment firm that focuses on venture growth investments in leading healthcare companies. Founded in 2006, Longitude has offices in Menlo Park, CA and Greenwich, CT. The firm builds balanced healthcare portfolios focused on creating value in special situations, including acquisitions, spin outs, PIPEs, and structured transactions, as well as traditional venture and growth equity. Longitude most recently raised $525 million for its third fund, Longitude Venture Partners III, L.P. For more information, please visit www.longitudecapital.com.
ALPHAEON PRESS CONTACTS:
September Riharb, Vice President, Marketing
Jeff Plumer, Vice President, Legal
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SOURCE ALPHAEON Corporation