Biotech Values

[DewDiligence]

Re: RVNC European partner for Daxi

I didn't realize…Teoxane had right of first negotiation for Daxi in territories [where] they had commercial operation.

Right of first negotiation doesn’t mean that much in practice—RVNC could legally turn down a deal with Teoxane and ink an equivalent deal with another party as long as they talked to Teoxane first.

Nevertheless, Teoxane is a logical European partner for Daxi insofar as they have a commercial presence in the largest European countries and they have a competitive dermal-filler line (their own) for bundling.