AEON Biopharma and Priveterra have announced the arrangement of up to $125 million in financing for their proposed business combination. The funding includes $50 million from existing and new AEON investors, as well as cash from Priveterra's trust account. This funding will allow AEON to continue its development of a botulinum toxin complex for the treatment of medical conditions, including migraines. The business combination is expected to close in July.
The $125 million in funding also includes up to $75 million from forward purchase agreements with third-party financing providers. This additional funding will support AEON's ongoing research and development efforts.
AEON licenses ABP-450, its botulinum toxin complex, from Daewoong Pharmaceutical Co., which provides exclusive development and distribution rights for certain territories.
AEON is focused on developing ABP-450 for various medical