NEWARK, Calif., March 14, 2016 (GLOBE NEWSWIRE) -- Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology company developing botulinum toxin products for use in aesthetic and therapeutic indications, today announced a key addition to its leadership team with the appointment of Roman G. Rubio, MD, MBA, as Senior Vice President of Clinical Development, effective immediately. Dr. Rubio will report to Chief Operating Officer Abhay Joshi, and will lead the company’s clinical development team, focusing on further accelerating the advancement of Revance’s neurotoxin development programs.
"Dr. Rubio played key leadership roles in the successful development and approval of several ophthalmic indications for Genentech’s Lucentis* (ranibizumab injection) and has led teams that managed line extensions, created market strategies, and generated disease and product education initiatives,” said Revance President and Chief Executive Officer, Dan Browne. "Dr. Rubio is a published investigator with extensive biologic drug development experience managing early- and late-stage product development, clinical development, medical affairs, and physician relations. We are pleased to add a seasoned drug developer with a proven track record for all phases of product development to our senior management team."
Dr. Rubio comes to Revance from Avalanche Biotechnologies, Inc., where he was Senior Vice President of Translational Medicine. Prior to Avalanche, Dr. Rubio served more than 11 years at Genentech, Inc., ascending through a number of clinical and development management roles to Global Head of Ophthalmology.
Dr. Rubio has an MBA in Health Care Management and Finance from The Wharton School, University of Pennsylvania, and received his Doctor of Medicine from University of California, San Francisco. He completed a Master of Science, Health and Medical Sciences from the University of California, Berkeley, and has a Bachelor of Science, Biological Sciences from the University of Notre Dame.
“The Revance team is focused on advancing its clinical trials in a number of aesthetic and therapeutic indications that have the potential to significantly improve the lives of patients," said Dr. Rubio. "With the RT001 topical Phase 3 program underway and the Phase 3 program for RT002 injectable slated to begin later this year, I am excited to drive forward the clinical development efforts that can potentially lead to regulatory approvals and commercial launch within just a few years."
In connection with Dr. Rubio's employment agreement as Senior Vice President of Clinical Development of Revance, the Compensation Committee of Revance’s Board of Directors granted an inducement award pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules. Dr. Rubio’s inducement awards consist of a stock option to purchase 110,000 shares of Revance common stock and 15,000 shares of restricted Revance common stock. Dr. Rubio's options will vest over a period of four years, with 25% vesting on March 14, 2017, and the balance vesting each month over the remaining three years. Dr. Rubio's restricted stock will vest over a period of four years starting April 15, 2016, with 25% vesting annually. These awards are subject to the terms and conditions of Revance's Amended and Restated 2014 Inducement Plan, as adopted by the Revance Board of Directors on December 11, 2015. These awards are effective on March 14, 2016, Dr. Rubio’s first day of employment with Revance, and the exercise price of the options will be today's closing price of Revance common stock on the NASDAQ Global Market.
About Revance Therapeutics, Inc.
Revance, a Silicon Valley-based biotechnology company, is committed to the advancement of remarkable science. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s trajectory to commercial success begins with the company’s novel and proprietary TransMTS® carrier-peptide delivery system, which is uniquely designed to target and transport macromolecules to their desired location.
Revance’s journey to market starts with the neurotoxin daxibotulinumtoxinA, the company’s highly purified botulinum toxin type A. The TransMTS technology is used in the delivery of botulinum toxin through two novel drug product candidates: DaxibotulinumtoxinA Topical Gel (RT001) that permits needle-free application, and DaxibotulinumtoxinA for Injection (RT002), which is designed to enable targeted administration and long-lasting effect. Revance is developing RT001 and RT002 for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles, excessive sweating and muscle movement disorders. The company holds worldwide rights for all indications of RT001, RT002 and the TransMTS technology platform. Beyond botulinum toxin, Revance expects the TransMTS technology can be applied to transdermal, mid-dermal or deep tissue delivery of a variety of other macromolecules. More information on Revance can be found at www.revance.com.
"Revance Therapeutics", TransMTS®, “Remarkable Science Changes Everything”, and the Revance logo are registered trademarks of Revance Therapeutics, Inc.
*Lucentis is a registered trademark of Genentech, a member of the Roche Group
Forward Looking Statements
This press release contains forward-looking statements, including statements related to Revance Therapeutics’ investigational drug product candidates, including but not limited to statements about our business strategy, clinical development, timeline and other goals and market for our anticipated products, plans and prospects and statements about potential benefits of our drug product candidates and our technologies.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include, but are not limited to: the outcome, cost, and timing of our product development activities and clinical trials; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; our ability to obtain and maintain regulatory approval of our drug product candidates; our ability to obtain funding for our operations; our plans to research, develop, and commercialize our drug product candidates; our ability to achieve market acceptance of our drug product candidates; unanticipated costs or delays in research, development, and commercialization efforts; the applicability of clinical study results to actual outcomes; the size and growth potential of the markets for our drug product candidates; our ability to successfully commercialize our drug product candidates and the timing of commercialization activities; the rate and degree of market acceptance of our drug product candidates; our ability to develop sales and marketing capabilities; the accuracy of our estimates regarding expenses, future revenues, capital requirements and needs for financing; our ability to continue obtaining and maintaining intellectual property protection for our drug product candidates; and other risks. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in Revance's periodic filings with the Securities and Exchange Commission (the "SEC"), including factors described in the section entitled "Risk Factors" of our annual report on Form 10-K filed March 4, 2016. These forward-looking statements speak only as of the date hereof. Revance disclaims any obligation to update these forward-looking statements.
Contacts
Investors:
Revance Therapeutics, Inc.
Jeanie Herbert
(714) 325-3584
jherbert@revance.com
Trade Media:
Nadine Tosk
(504) 453-8344
nadinepr@gmail.com
