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Aeon Biopharma Raises $30 Million From Insiders

Aug 03, 2022•almost 3 years ago

Amount Raised

$30 Million

IrvineTherapeuticsBiotechnologyHealth Care

Description

AEON Biopharma, Inc. (“AEON” or the “Company”), a private clinical-stage biopharmaceutical company focused on the development of its proprietary botulinum toxin complex ABP-450 (prabotulinumtoxinA) injection for therapeutic indications, today announced that a group of existing stockholders have invested an additional $30 million into AEON in the form of an unsecured convertible note, bringing the total insider investment into the Company to $54.5 million since December 2021.

Company Information

Company

AEON

Location

Irvine, California, United States

About

The active part of the botulinum toxin is the 150 kDa component, and the remaining 750 kDa of the complex is made up of accessory proteins that the Company believes help with the function of the active portion of the botulinum toxin. AEON licenses ABP-450 from Daewoong Pharmaceutical Co., which provides AEON exclusive development and distribution rights for therapeutic indications in certain territories, including the United States, Canada and the EU, among other international territories. About AEON Biopharma AEON is a clinical stage biopharmaceutical company focused on developing ABP-450 (prabotulinumtoxinA) injection for the treatment of debilitating medical conditions with an initial focus on the neurology and gastroenterology markets.

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