ALPHAEON Corporation Completes Reorganization to Simplify Corporate Structure

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–ALPHAEON Corporation (“ALPHAEON”), today announced that it has completed a reorganization aimed at simplifying its corporate structure. As a result of this reorganization, the company split into two business units, each retaining the same shareholding base that was in place prior to this split.

ALPHAEON has been renamed AEON Biopharma, Inc. (“AEON”), which will now focus on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, as a therapeutic application for medical conditions debilitating.

A second unit, Alphaeon1 LLC, will allow ALPHAEON stockholders to continue to own the approximately 8.7 million shares of Evolus Inc. (NASDAQ:EOLS) previously held by ALPHAEON, subject to applicable law restrictions. securities on resales by affiliates for six months under Section 144.

Rick Taketa, Lead Independent Director of AEON’s Board of Directors and also a Director of Alphaeon1 LLC, said, “We are delighted to see Evolus’ strong market penetration in 2019 and are excited about the prospects for future of Evolus. We continue to have a positive view of the long-term potential of the position held in Evolus for our shareholders. As such, we have been looking for a way for our shareholders to continue to retain a significant stake in Evolus, as we operationally focus on the critical phase of AEON’s development. Evolus and AEON have always operated independently, and this action now makes the separation of therapeutic and aesthetic applications of the neurotoxin clearer and clearer.

About AEON Biopharma, Inc.

AEON Biopharma, Inc. (formerly known as ALPHAEON Corporation) is focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, for debilitating medical conditions.

Statements contained in this press release that are not a description of historical facts are forward-looking statements and can be identified by the use of words that refer to future events or circumstances such as “expect”, “have intend to”, “plan”, “anticipate”, “believe” and “will”, among others. Because these statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements made by AEON in this press release are based solely on information currently available to it and speak only as of the date such statement is made. AEON undertakes no obligation to update publicly any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.