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Healthcare-focused investment firm Strathspey Crown Holdings LLC has acquired Evolus Inc. in Santa Barbara for an undisclosed amount.
Newport Beach-based Strathspey Crown was formed last year to invest in medical device makers and other healthcare technology companies that provide “lifestyle healthcare” services, such as cosmetic surgery and implants.
Evolus, also a startup established last year, has a team of scientists and clinicians engaged in research and development of neurotoxins, chemical compounds that target the nervous system. The company’s aim is to “advance technology in aesthetic medicine,” according to Chief Executive Christopher Marmo.
Evolus earlier this week formed a partnership with South Korea-based drug manufacturer Daewoong Pharmaceutical Co. to run clinical tests of the company’s botulinum toxin product and manage regulatory approvals in the U.S. and international markets.
The acquisition gives Strathspey Crown’s wholly owned subsidiary, Alphaeon Corp., the exclusive right to market Daewoong’s botulinum toxin in the U.S. and certain other countries, pending approvals. Alphaeon will market it under the name Evosyal.
Alphaeon was established in July and is headed by Chief Executive Robert Grant, who also serves as chairman of Strathspey Crown.
Grant formerly was chief executive of the surgical division of Bausch & Lomb Inc. in Aliso Viejo. He also served as president of the aesthetics division of Irvine-based drug maker Allergan In