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Venture capital-backed Revance eyes Nasdaq IPO

3 Jan 2014

stock brokerage market share listedVenture capital-backed biopharmaceutical company Revance Therapeutics is looking to raise $86.25m via an IPO on the Nasdaq exchange.

Cowen and Company and Piper Jaffray are acting as underwriters for the IPO, according to a document filed with US securities regulators.

The company, which is focused on developing products to combat signs of ageing, will trade under the symbol RVNC.

Revance’s backers include Vivo Ventures, Essex Capital, Technology Partners, NovaQuest, Essex Woodlands Health Ventures, Shepherd Ventures, Palo Alto Investors and Pac-Link Ventures.

Revance is developing a gel designed to reduce crow’s feet wrinkles by temporarily relaxing the muscles around the eye.

Unlike procedures that require injections, the company’s RT001 gel is applied by a physician and then wiped off after the procedure.

One of Revance’s backers, NovaQuest, closed a $459m fund in November last year.

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