83.9 F
Laguna Hills
Tuesday, Jul 8, 2025
-Advertisement-

Aeon Biopharma Gets $25M

Aeon Biopharma Inc., a Newport Beach-based therapeutics developer, said it received a $25 million investment from Daewoong Pharmaceutical Co.

The capital comes in the form of a 5-year, 3% convertible note that will automatically convert into 9.99% of the firm’s common stock immediately prior to an initial public offering, the company said.

Aeon Biopharma is developing a botulinum toxin for the treatment of cervical dystonia, a condition that causes involuntary muscle contractions and often leads to significant pain and mobility challenges in patients.

It is led by Chief Executive Marc Forth, a former senior vice president at Allergan.

The firm was formally established in January, when Newport Beach-based Alphaeon Corp. split its business into two units. Alphaeon1 LLC, the second business unit, holds about 8.7 million shares in Newport Beach aesthetics maker Evolus Inc.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Would you like to subscribe to Orange County Business Journal?

One-Year for Only $99

  • Unlimited access to OCBJ.com
  • Daily OCBJ Updates delivered via email each weekday morning
  • Journal issues in both print and digital format
  • The annual Book of Lists: industry of Orange County's leading companies
  • Special Features: OC's Wealthiest, OC 500, Best Places to Work, Charity Event Guide, and many more!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-