Mylan, Revance Announce License Agreement For Proposed Biosimilar To BOTOX

(RTTNews) - Mylan N.V. (MYL) and Revance Therapeutics, Inc. (RVNC) announced a global collaboration and license agreement for the development and commercialization of a proposed biosimilar to BOTOX (onabotulinumtoxinA). BOTOX is the market-leading neuromodulator approved for the treatment of multiple indications and usage in the United States with additional approvals globally.

The companies plan to work together to gain regulatory approval in the development of the biosimilar product, and commercialize the product in the U.S., Europe and applicable markets throughout the rest of the world. The collaboration includes an upfront payment of $25 million to Revance, with contingent milestone payments upon achievement of additional clinical, regulatory and sales targets, plus sales royalties in all relevant markets.

BOTOX is a registered trademark of Allergan, Inc.