AEON Biopharma Appoints Industry Veteran Rob Bancroft as Chief Executive Officer

IRVINE, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. ("AEON" or the "Company") (NYSE:AEON), a clinical-stage biopharmaceutical company focused on developing a botulinum toxin complex for the treatment of multiple therapeutic indications, announced today the appointment of Rob Bancroft as President and Chief Executive Officer, effective April 29, 2025. Mr. Bancroft will also join AEON's Board of Directors.

"We are excited to welcome Rob as the new President and Chief Executive Officer of AEON. He is an exceptional leader who brings a wealth of experience in the therapeutic toxin industry, and a strong track record of building value through the execution of well-defined strategies," commented Mr. Jost Fischer, Chairman of the AEON Board and Interim President and Chief Executive Officer. "Rob is uniquely positioned to hit the ground running and lead the rest of the AEON team as we continue to advance our ABP-450 program along the planned 351(k) biosimilar regulatory pathway. We believe this strategy could bring ABP-450 to the U.S. market for all of BOTOX's currently approved and future therapeutic indications under a single FDA approval."

"I am excited to join the AEON team and work towards delivering on ABP-450's tremendous potential as a biosimilar that shares the exact same 900kDa molecular weight as BOTOX. If approved, we believe ABP-450 could offer a scientifically validated and clinically comparable alternative to BOTOX, creating additional choice for physicians, helping expand access to care for patients who face cost-related barriers, and supporting broader system affordability," stated Mr. Bancroft. "We are looking forward to announcing the results of our Biosimilar BPD Type 2a meeting with the FDA, which is anticipated in the second half of 2025, and next steps in the development program for ABP-450."

Mr. Bancroft brings over 25 years of leadership experience in the life sciences industry, spanning biopharmaceuticals, medical devices, and healthcare technology. Prior to joining AEON, he served as General Manager of the Therapeutics business at Revance Therapeutics, where he led the launch of Daxxify^® in cervical dystonia with a novel strategy that prioritized expert endorsement, payer coverage, and reimbursement infrastructure ahead of broader investment - driving strong early adoption and differentiated positioning in the $3B botulinum toxin therapeutics market. Previously, Mr. Bancroft was President of Smith & Nephew's Biotherapeutics division, following the $782M acquisition of Healthpoint Biotherapeutics, where he orchestrated a strategic turnaround that led to four consecutive years of accelerating growth. He also served as Chief Executive Officer of QMENTA, a neuroimaging SaaS startup, where he guided the company through the COVID-19 pandemic and led a successful post-seed funding round. Earlier in his career, Mr. Bancroft held senior leadership roles at Allergan, where he was responsible for global strategy and U.S. commercialization of BOTOX^® in multiple therapeutic indications. Mr. Bancroft earned his B.S. in Biology from Indiana University and his M.B.A. from the University of Southern California.

About AEON Biopharma

AEON is a clinical stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, or ABP-450, for debilitating medical conditions, with an initial focus on the neurosciences market. ABP-450 is the same botulinum toxin complex that is currently approved and marketed for cosmetic indications by Evolus under the name Jeuveau. ABP-450 is manufactured by Daewoong in compliance with current Good Manufacturing Practice, or cGMP, in a facility that has been approved by the U.S. Food and Drug Administration, Health Canada and European Medicines Agency. The product is approved as a biosimilar in Mexico and India. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. The Company has built a highly experienced management team with specific experience in biopharmaceutical and botulinum toxin development and commercialization. To learn more about AEON, visit www.aeonbiopharma.com.

Forward-Looking Statements

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or AEON's future financial or operating performance. For example, statements regarding meetings with the FDA, the timing of primary comparative analytical studies, and potential determination that ABP-450 is highly similar to the reference product for currently approved and future therapeutic indications are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "plan", "possible", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "continue" or "could", or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by AEON and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against AEON or others; (ii) AEON's future capital requirements; (iii) AEON's ability to raise financing in the future; (iv) AEON's ability to maintain the cash balance required to work through our Biosimilar BPD Type 2a meeting with the FDA; (v) AEON's ability to continue to meet continued stock exchange listing standards; (vi) the possibility that AEON may be adversely affected by other economic, business, regulatory, and/or competitive factors; (vii) AEON's ability to progress along a 351(k) biosimiliar pathway to allow ABP-450 to be approved as a biosimilar to BOTOX under a single FDA approval; (viii) the outcomes from any meetings or discussions with regulatory authorities; and (ix) other risks and uncertainties set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov.

Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. AEON does not undertake any duty to update these forward-looking statements.

Contacts

Investor Contact:

Corey Davis, Ph.D.

LifeSci Advisors

+1 212 915 2577

[email protected]

Source: AEON Biopharma