We are advising Teoxane on the proposed acquisition

Davis Polk is advising Teoxane SA in connection with its proposal to the board of directors of Revance Therapeutics, Inc. to acquire Revance for $3.60 per share in cash. This offer represents a 16% premium over the $3.10 per share price outlined in Revance’s amended and restated merger agreement with Crown Laboratories, Inc., announced on December 9, 2024. Teoxane currently owns 6.2% of Revance’s outstanding common stock. Closing the transaction would be subject to any applicable regulatory approvals.

Teoxane, headquartered in Geneva, Switzerland, is an independent, privately held leader in the global medical aesthetics industry. The company’s dermal fillers, developed with its proprietary RHA technology, are available in more than 90 countries. With a workforce of over 600 employees worldwide, Teoxane is recognized as a leader in innovation, boasting 15 formulations and over 180 patent titles related to hyaluronic acid.

Based in Nashville, Tennessee, Revance is a biotechnology company setting the new standard in healthcare with innovative aesthetic and therapeutic offerings that elevate patient and physician experiences.

The Davis Polk corporate team includes partner Marc O. Williams, Derek Dostal and Pedro J. Bermeo and associate F. Adam Abulawi. Partner Scott M. Herrig is providing finance advice. Partner David R. Bauer is providing intellectual property advice. Partner Adam Kaminsky is providing executive compensation advice. Partner Michael Mollerus is providing tax advice. Partner Andrew Ditchfield is providing litigation advice. Partner Ronan P. Harty is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices. 

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