SOURCE: OBAGI MEDICAL PRODUCTS, INC.

January 24, 2006 10:01 ET

Obagi Medical Products and Revance Therapeutics Announce License Agreement for New, Proprietary Skin Products Targeting Elastin

The Companies Will Collaborate on Commercial Development of Dermatology Products Designed to Enhance Elastin in Skin

LONG BEACH, CA and MOUNTAIN VIEW, CA -- (MARKET WIRE) -- January 24, 2006 -- Obagi Medical Products, Inc. (Obagi), and Revance Therapeutics, Inc. (Revance), announced today that they have entered into an agreement whereby Obagi will license exclusive rights to technology patented by Revance, covering the use of compounds and formulations for the enhancement and regeneration of elastin in human skin. Elastin is the protein in skin that gives it the ability to hold its shape and "snap" back when pulled or stretched. As skin ages and is exposed to the effects of the sun and other external elements, the elastin content in the skin tends to degenerate, contributing to sagging, aged appearance of skin. The Revance technology provides a proprietary topical formulation for aesthetic and functional improvement in skin through augmentation of elastin in the underlying dermis.

"There are many products and procedures on the market today that are aimed at building or regenerating collagen in skin," said Steve Carlson, Obagi Chief Executive Officer. "We are very excited about the opportunity to work with Revance on this new product breakthrough because it will be the first product to effectively address the issue of reduced elastin in aging skin."

The agreement gives Obagi the option for exclusive rights to clinical indications within medical dermatology and plastic surgery markets.

"We have built a compelling preclinical and clinical data set, and a strong intellectual property portfolio targeted at aesthetic and therapeutic dermatology," said Dan Browne, Revance Chief Executive Officer, "and we are pleased to work with Obagi to begin to commercialize this powerful elastin technology to physicians and their patients."

The Companies will work together in order to bring a portfolio of aesthetic skin care products to market, initially focused on the benefits to enhancing elastin in the under-eye areas, which are commonly subject to visible signs of wrinkles and sagging due to the loss of elastin in the underlying dermis as skin ages.

About Obagi Medical Products, Inc.

Obagi, a leader in the physician-dispensed skin care channel, develops and commercializes skin health products for the dermatology, plastic surgery, and related Aesthetic markets. Using its Penetrating Therapeutics™ technologies, Obagi's products are designed to improve penetration of agents across the skin barrier common and visible skin conditions in adult skin such as chloasma, melasma, senile lentigines, acne vulgaris and sun damage. Obagi launched its first skincare system, Obagi Nu-Derm, in 1988; and in 2004 launched the first and only prescription strength Vitamin C and hydroquinone system, Obagi-C Rx. Obagi System products are only available through physicians. Visit www.obagi.com for information.

About Revance Therapeutics, Inc.

Revance Therapeutics is a specialty biopharmaceutical company focused on the discovery, development and commercialization of novel products to treat skin and improve aesthetic appearance. Revance was founded in Palo Alto, California, in 2002 to develop proprietary formulations and transdermal macromolecule delivery systems, including topical delivery of botulinum neurotoxins, which are more effective and safer than currently available injectable treatments. The Company's immediate clinical targets are in areas of aesthetic medicine and therapeutic dermatology.

Contact Information

  • For more information contact:
    Obagi Medical Products, Inc.
    Curtis Cluff
    Corporate Development
    (562) 628-1007
    Email Contact

    Revance Therapeutics
    Dan Browne
    President & CEO
    (650) 230-4500
    Email Contact