Irvine-based Evolus Inc. (Nasdaq: EOLS), a medical aesthetics company that went public this year, continues to build out its management team under the direction of new Chief Executive David Moatazedi.
“Ramping up an organization from no commercial infrastructure all the way through to a place where [it’s the] premier aesthetic company is a process,” Moatazedi said last month after the company’s latest earnings results.
In the latest change to the executive team, it announced a new role for Chief Medical Officer Rui Avelar last month.
In addition to the CMO role, he will serve as head of research and development. The firm is seeking Food and Drug Administration approval for its first product—DWP-450, an injectable neurotoxin that targets moderate to severe frown lines.
The drug is designed to produce a similar cosmetic effect to Botox’s.
“We are committed to building out a world-class aesthetic portfolio,” Moatazedi said. “We believe DWP-450 is the anchor brand that [we] can build around.”
Evolus plans a spring launch of DWP-450, and is doing plenty of prep work on the operational side of its business to get ready for the kickoff, Moatazedi said on the company’s earnings call.
“We remain focused on building out our disruptive commercial plan and expanding our sales and marketing management team through the remainder of 2018,” he said.
The aesthetics medicine company announced last week that FDA accepted the resubmission of its drug candidate and has assigned a Feb. 2, 2019 action date.
Evolus said in May that it received a complete response letter regarding its neurotoxin. The deficiencies cited by FDA “were isolated to items related to chemistry, manufacturing and controls processes” and not related to “clinical, non-clinical or safety matters,” according to company press releases.
That’s good news for local employees at Allergan PLC, whose Irvine campus has had several rounds of job cuts since it was acquired in 2015 by New Jersey-based Actavis.
Evolus has grabbed a number of former executives from the local campus of Allergan—the maker of Botox—as it’s built its team.
Hires from Allergan include Moatazedi, who joined the company about three months ago. He was previously Allergan’s senior vice president of medical aesthetics and Actavis’ top local executive at the time of his departure.
In July, Evolus hired Michael Jafar as chief marketing officer. He also came from Allergan, last serving as vice president of medical aesthetics, and overseeing Juvederm Voluma’s launch.
Avelar was previously chief medical officer of Alphaeon Corp. and before that, Allergan.