Revance Therapeutics Expands Leadership Team, Appointing Todd Zavodnick Chief Commercial Officer & President, Aesthetics & Th...
August 01 2017 - 4:05PM
Business Wire
Revance Therapeutics, Inc. (NASDAQ:RVNC), a biotechnology
company developing botulinum toxin products for use in treating
aesthetic and therapeutic conditions, today announced the expansion
of its executive leadership team with the appointment of Todd
Zavodnick as Chief Commercial Officer and President, Aesthetics
& Therapeutics. Mr. Zavodnick will report to President and
Chief Executive Officer, Dan Browne, and will lead the company’s
commercial operations along with the launch of DaxibotulinumtoxinA
for Injection (RT002), Revance’s innovative lead drug candidate,
with the potential to offer best-in-class aesthetic and therapeutic
outcomes including higher response rates and longer duration of
effect.
“Todd brings an exemplary track record gained through his global
leadership roles at ZELTIQ, Galderma and Alcon, showing significant
capability to spearhead both domestic and international
organizations in creating world-class aesthetic and therapeutic
product franchises,” said Revance President and Chief Executive
Officer, Dan Browne. “He has proven skills in leading commercial
organizations, building brand loyalty and driving both revenues and
profitability, all while fostering a high-performing organization.
We are pleased to have an experienced industry leader joining our
executive team who can build a strong commercial infrastructure
commensurate with the breakthrough potential of RT002.”
Mr. Zavodnick joins Revance from ZELTIQ* Aesthetics, Inc.,
developer and marketer of the #1 non-invasive fat-reduction
procedure known as CoolSculpting*, where he was President of
International prior to the company’s acquisition by Allergan plc on
April 28, 2017. Under his leadership, ZELTIQ’s international net
revenues grew double digits from the time he joined ZELTIQ through
the company sale. Previously, he served in leadership roles at
Galderma Laboratories, most recently as President and General
Manager, North America generating $1.2 billion in sales and earlier
led the integration of the Valeant aesthetics business into
Galderma. Prior to this, Mr. Zavodnick managed a successful 14-year
career at Alcon Laboratories in a series of ascending sales and
marketing positions both domestically and internationally,
ultimately serving as President of Alcon China and Mongolia.
Mr. Zavodnick holds a Master of Business Administration from The
University of Texas at Dallas and a Bachelor of Science in Pharmacy
from Rutgers University. He currently serves on the Board of
Directors for NovaBay Pharmaceuticals (NYSE: NBY), Inc. and the
Children’s Skin Disease Foundation.
“Revance has worked diligently to assemble a robust and
expanding set of clinical data to support the differentiation of
RT002 injectable, most importantly high response rates, long
duration of effect, and a better patient experience than current
commercially available products,” said Mr. Zavodnick. “Based on my
global experience, and speaking with many physicians skilled in the
use of today’s short-acting neurotoxins, I truly believe RT002 has
the potential to disrupt the neuromodulator market. This requires a
new approach and new thinking on commercialization, and I am very
excited to work with an innovative team laser-focused on physician
perspectives and improving patient satisfaction. I am looking
forward to the opportunity to build a powerful new global
neuromodulator brand for Revance.”
In connection with Mr. Zavodnick’s employment agreement as Chief
Commercial Officer of Revance, the Compensation Committee of
Revance’s Board of Directors has approved the grant of inducement
awards pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules. Mr.
Zavodnick’s inducement awards consist of a stock option to purchase
35,000 shares of Revance common stock and 95,000 shares of
restricted Revance common stock. Mr. Zavodnick’s options will vest
over a period of four years, with 25% vesting beginning on his
first day of employment with Revance, anticipated to be September
18, 2018, and the balance vesting each month over the remaining
three years. Mr. Zavodnick’s restricted stock will vest over a
period of four years starting October 15, 2018, with 25% vesting
annually. These awards are subject to the terms and conditions of
Revance's Amended and Restated 2014 Inducement Plan, as adopted by
the Revance Board of Directors on December 11, 2015. These awards
are effective on Mr. Zavodnick’s first day of employment with
Revance, and the exercise price of the options will be closing
price of Revance common stock on the NASDAQ Global Market on that
date.
About Revance Therapeutics, Inc.
Revance, a Silicon Valley-based biotechnology company, is
committed to the advancement of remarkable science. The company is
developing a portfolio of products for aesthetic medicine and
underserved therapeutic specialties, including dermatology,
orthopedics and neurology. Revance's science is based upon a
proprietary peptide technology, which when combined with active
drug molecules, may help address current unmet needs. Revance's
initial focus is on developing daxibotulinumtoxinA, the company's
highly purified botulinum toxin, for a broad spectrum of aesthetic
and therapeutic indications, including facial wrinkles and muscle
movement disorders.
The company's lead drug candidate, DaxibotulinumtoxinA for
Injection (RT002), is currently in development for the treatment of
glabellar lines, cervical dystonia and plantar fasciitis with the
potential to be the first long-acting neuromodulator. The company
holds worldwide rights for all indications of RT002 injectable and
RT001 topical and the pharmaceutical uses of its proprietary
peptide technology platform. More information on Revance may be
found at www.revance.com.
"Revance Therapeutics" and the Revance logo are registered
trademarks of Revance Therapeutics, Inc.
*ZELTIQ and CoolSculpting are registered trademarks of ZELTIQ
Aesthetics, Inc.
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Investors:Revance TherapeuticsJeanie
Herbert, 714-325-3584jherbert@revance.comorBurns McClellanAmi
Bavishi, 212-213-0006abavishi@burnsmc.comorTrade Media:Nadine Tosk,
504-453-8344nadinepr@gmail.com
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