20.12.2023 14:48:18
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Evolus Partners With Symatese To Distribute Dermal Fillers In Europe
(RTTNews) - Evolus, Inc. (EOLS) on Wednesday announced that it has partnered with Symatese to distribute four unique dermal fillers under the brand name Estyme, that are in late-stage development, with anticipated regulatory clearances in the second half of 2024, in the United Kingdom and Europe.
This is the second agreement between Evolus and Symatese this year, with the first obtaining exclusive distribution rights to the same product line in the U.S. under the brand name Evolysse.
The company plans to commence commercialization of the approved product lines in 2025, with subsequent product launches in 2026 and 2027.
The Evolysse/Estyme fillers portfolio will allow Evolus to offer a complete range of filler solutions to cover mid-face, nasolabial folds, and lip indications in Europe and an eye product line in the U.S.
In exchange for the exclusive distribution rights in the United Kingdom and Europe, Evolus will issue 610,000 shares of the company's common stock to Symatese, and will also pay Symatese a mid-single-digit royalty based on net sales and a transfer price for the product. Symatese will be responsible for developing the products, including clinical studies, product testing, and the conduct of regulatory activities required to obtain and maintain all necessary regulatory approvals.
The initial agreement is for a term of 15 years, with automatic five-year renewal provisions.
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