Evolus (EOLS)

[DewDiligence]

EOLS licenses dermal-filler line for $18M plus royalties on eventual sales:

https://www.businesswire.com/news/home/20230509006122/en

Evolus…today announced it has entered into a definitive agreement to be the exclusive U.S. distributor of a line of five unique dermal fillers currently in late-stage development.

…Symatese is a privately held French company that designs, engineers and manufactures regenerative medical solutions based on its innovative technology platforms. Symatese has a unique and combined expertise in the field of hyaluronic acid and injection systems and is well known for the development of the latest generation of Restylane products in the United States…

…beginning with the expected launch of the first two indications in the first half of 2025, followed by a third in 2026 and two more in 2027… the Evolysse portfolio will offer a complete range of filler solutions to cover the spectrum of indications including mid-face, nasolabial folds, lips and eyes.

…In consideration for the exclusive U.S. distribution rights, Evolus will pay Symatese a total of €16.2 million (approximately $17.8 million based on current foreign exchange rates) including an upfront payment of €4.1 million and €12.1 million of additional payments beginning in June 2025. Evolus will also pay Symatese a mid-single-digit royalty based on net sales and a transfer price for the product. The two companies will share responsibility for expenses related to the registration process for the two planned product launches in 2027.

EOLS expects the dermal filler line to generate $200M of sales in 2028.