NEW YORK, April 14, 2021 /PRNewswire/ -- Aquavit Holdings LLC announced today that it acquired an exclusive license to register, market and commercialize a botulinum toxin (DTX-021) in the United States and Canada.
For several years, Aquavit has been investing in its proprietary delivery technologies and related intellectual property for botulinum toxin and recently proved its efficacy and safety through a clinical study. It also compared and evaluated optimal dosing with three FDA approved botulinum toxins with varying injection depths and widths.
According to a published article by American Society for Dermatologic Surgery (ASDS), the licensed asset DTX-021 showed equivalency on glabellar lines and improvement on periorbital rhytids compared to onabotulinumtoxinA (BOTOX®) in a multicenter, double-blind, randomized, parallel, active-controlled phase III clinical trial. There were no adverse events.
The manufacturing partner is Huons Bio Pharma ("Huons"), a spin-off from the publicly traded South Korean corporation Huons Global Co. Ltd. [KOSDAQ: 084110]
With this deal, Huons will receive sizable milestone payments and royalties in addition to an upfront payment, and become the exclusive supplier of Aquavit's botulinum toxin. Aquavit plans to initiate the registration process by filing an IND with the FDA shortly.
"We are thrilled to partner with Huons for this venture. Together, we will introduce the most innovative botulinum toxin product, and uplift and modernize the treatment paradigm," said Sobin Chang, CEO of Aquavit.
According to The Aesthetic Society and the Global Market Insights, botulinum toxin has been the #1 non-surgical aesthetic procedure since 1999 and is still growing rapidly. The North America botulinum toxin market alone was valued at $3.19B in 2019. With a projected CAGR of 7-9%, the global botulinum toxin market in 2026 is expected to be $8.9B
"Aquavit's proven track record of developing and launching a global brand such as AQUAGOLD®, combined with its knowledge of the botulinum toxin market, and its network of over 20,000 physicians worldwide who use botulinum toxin products, can make a significant impact in the fast growing market with only 4 companies with an FDA approval today," said Marc Toulemonde, Aquavit's board member and an industry leader in top beauty and aesthetic brands.
Aquavit is a high-tech pharmaceutical company that provides a comprehensive range of innovative pharmaceutical, biotech and medical device technologies. Aquavit focuses on personalized medicine to improve patients' health, maximize the efficiency of our medical community, and support the pharmacoeconomics of payers.
Huons Bio Pharma is a recent spin-off of the publicly traded South Korean corporation Huons Global Co. Ltd. [KOSDAQ: 084110]. Huons Global focuses "on supporting the growth of its affiliates' original businesses, managing each company's business portfolio and enhancing brand value". The company was founded in 1965 and is headquartered in Seongnam-si, South Korea. Huons Bio Pharma will promote the group's biopharmaceutical business, such as botulinum toxin, and develop new drugs.
SOURCE Aquavit Pharmaceuticals, Inc.