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Aquavit Files IND for a New Botulinum Toxin With Microchannel Technology™ for Palmar Hyperhidrosis

NEW YORK, March 18, 2023 /PRNewswire/ -- Aquavit Holdings has submitted to FDA an IND for its DTX-024, for the treatment of palmar hyperhidrosis using its patented microchannel technology™. DTX-024 is a highly purified and clinically tested injectable neuromodulator derived from neurotoxins produced by Clostridium botulinum.

Alongside Aquavit's biosimilar program for its botulinum toxin, this will be the first in the world, indicated for palmar hyperhidrosis, approved by FDA.

Aquavit has been investing in proprietary delivery technologies and related intellectual property for botulinum toxin. This is a strategic move that puts them ahead of the curve in the fast-growing multi-billion-dollar botulinum toxin market.

To effectively execute the strategy, Aquavit has recently bolstered its executive team with seasoned veterans from the industry and the academia.

Dr. David Crean, PhD, MBA has been named Chief Financial Officer of Aquavit Holdings. He has buy- and sell-side expertise in mergers & acquisitions (M&A), partnering and investments within the life sciences and healthcare sectors working within strategic biopharmaceutical companies, private equity, investment banking and venture capital. He commenced his career within biopharmaceutical companies more than 30 years ago, most notably at Allergan, an Abbvie Company, where he lead deal execution for both technology, product, and company acquisitions and divestitures across a broad range of therapeutic areas and business units including injectable and topical medical aesthetics, dermatology, neurology, and ophthalmology. He serves on several boards including both public and private companies and has been awarded numerous recognitions including San Diego's 500 Most Influential people for the past four years (2019 -2022), 2020 Top Thought Leaders by Axial, M&A Advisor of the Year in 2019, and the 2018 Healthcare Hero Award.

Dr. Crean holds FINRA Series 79 and Series 63 licenses and is a Registered Investment Banking Representative of BA Securities LLC, Member FINRA SIPC.

Dr. Churlsu Kwon, MD. PhD. MPH., has been named Chief Medical Officer. He is a trained neurosurgeon and neuroscientist who brings a wealth of experience and knowledge to scientific developments, drug development and approval, and new drug discovery. He holds his degrees from University of Oxford and Harvard Medical School and currently holds an academic position at Columbia Medical School.

With Aquavit's proven track record of developing and launching global brands, such as AQUAGOLD®, the company has demonstrated their ability to successfully bring innovative products to market. With their deep knowledge of botulinum toxin and extensive network of physicians, Aquavit is well-positioned to make a significant impact in the industry.

"The neurotoxin market is expanding rapidly, with increasing demand for innovative products and personalized treatment plans. There is currently no FDA approval for palmar hyperhidrosis and through our novel route of administration we will be able to offer new solutions to meet the evolving needs of patients in pathologies that are extremely debilitating. The provision of access for this population is a step in the right direction towards improving their health and well-being. " Churl-Su Kwon, CMO Aquavit.

About Aquavit Aquavit is an innovative healthcare company that provides a comprehensive range of proprietary pharmaceutical, biotech and medical device technologies. Aquavit focuses on personalized medicine to improve patients' health, maximize the efficiency of our medical community, and support the pharmacoeconomics of payers.

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