Onabotulinumtoxin A

- AEON and Daewoong Pharmaceutical have executed definitive documentation to exchange $15 million of notes plus accrued interest into new equity, $1.5 million of new notes due 2030, and a cash-exercise warrant for 8 million shares of common stock – - Exchange remains subject to shareholder approval - IRVINE, Calif., Dec. 15, 2025 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE American: AEON), a biopharmaceutical company seeking accelerated and full-label U.S. market entry by developing ABP-450 (prabotulinumtoxinA) as a BOTOX (onabotulinumtoxinA) biosimilar, today announced that the Company and Daewoong Pharmaceutical (“Daewoong”) have entered into a definitive agreement to exchange the Company’s $15 million of convertible notes plus accrued interest into new equity, $1.5 million of new notes due 2030, and a cash-exercise warrant for 8 million shares of common stock, on the same terms as the warrants in the private placement financing announced in November 2025 (the “Exchange”). The cash-exercise warrants, if exercised, represent over $8 million in potential additional cash proceeds to AEON. “We are pleased to report the signing of definitive documentation for our exchange of Daewoong’s existing AEON-issued debt,” said Rob Bancroft, President & Chief Executive Officer of AEON. “While the transaction remains subject to a shareholder vote, this is an impotant step forward in deleveraging the company and we believe sets the stage for continued progress for our ABP-450 biosimiliar strategy in 2026.” Previously, AEON and Daewoong entered into a binding term sheet contemplating the Exchange. The parties have now completed the definitive documentation for the Exchange, which documentation aligns with the terms agreed upon in the binding term sheet. The consummation of the Exchange remains subject to stockholder approval. The Exchange will result in the elimination of more than 90% of AEON’s outstanding debt, strengthen Daewoong’s long-term strategic alignment with the Company and the Company’s stockholders, and transform AEON’s capital structure. About the U.S. Biosimilar Pathway The U.S. Food and Drug Administration (“FDA”) regulates biosimilars under the Public Health Service Act’s 351(k) pathway, which require developers to demonstrate that a proposed product is highly similar to an approved reference biologic with no clinically meaningful differences in safety, purity, or potency. Analytical similarity is the scientific foundation of this process, representing the most critical and data-intensive phase of development. Once analytical comparability across key quality attributes is established, subsequent FDA interactions focus on confirming whether any residual uncertainty requires limited clinical evaluation. About AEON Biopharma AEON Biopharma is a biopharmaceutical company seeking accelerated and full-label access to the U.S. therapeutic neurotoxin market via biosimilarity to BOTOX. The U.S. therapeutic neurotoxin market exceeds $3.0 billion annually, representing a major opportunity for biosimilar entry. The Company’s lead asset is ABP-450 for debilitating medical conditions. ABP-450 is the same botulinum toxin complex currently approved and marketed for cosmetic indications by Evolus, Inc. under the name Jeuveau®. ABP-450 is manufactured by Daewoong Pharmaceutical 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 India, Mexico, and the Philippines. 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. 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 expected meetings with the FDA or the expected benefits of AEON’s previously announced PIPE transaction 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" or "continue", 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 ) the ability of the Company to obtain stockholder approval for the Exchange and the ability of the Company to satisfy other closing conditions; and 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. No Offer or Solicitation This press release shall not constitute a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release is not intended to nor does it constitute an offer to sell or purchase, nor a solicitation of an offer to sell, buy or subscribe for any securities, nor is it a solicitation of any vote in any jurisdiction pursuant to the proposed exchange transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. Additional Information and Where to Find It This press release may be deemed to be solicitation material in respect of obtaining stockholder approval in connection with the Exchange. In connection with obtaining stockholder approval, the Company expects to file a proxy statement on Schedule 14A and other relevant materials with the SEC. This press release does not constitute a solicitation of any vote or approval. SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY ALL RELEVANT DOCUMENTS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED WITH THE SEC, INCLUDING THE COMPANY’S PROXY STATEMENT, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE EXCHANGE AGREEMENT AND THE TRANSACTIONS CONTEMPLATED THEREBY, INCLUDING THE EXCHANGE. Copies of the proxy statement and other relevant materials and any other documents filed by the Company with the SEC may be obtained free of charge at the SEC’s website, at www.sec.gov. In addition, stockholders may obtain free copies of the proxy statement and other relevant materials through the website maintained by the SEC at http://www.sec.gov. or by directing a request to: AEON Biopharma, Inc., 5 Park Plaza, Suite 1750, Irvine, CA 92614 or via email at investor.relations@aeonbiopharma.com. Participants in the Solicitation The Company and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in respect of the stockholder approval needed for the Exchange. Information about the directors and executive officers of the Company is set forth in the Company's Schedule 14A filed with the SEC on April 29, 2025. Other information regarding the persons who may be deemed participants in the proxy solicitations in connection with the Exchange, and a description of any interests that they have in the Exchange, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Stockholders, potential investors and other interested persons should read the proxy statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. Contacts Investor Contact: Laurence Watts New Street Investor Relations +1 619 916 7620 laurence@newstreetir.com Source: AEON Biopharma

在全球生物制药的巨擘阵营中，艾伯维（AbbVie）的名字始终与“创新”和“转型”紧密相连。这家从雅培公司独立出来仅十余年的企业，曾凭借一款传奇药物“修美乐”（Humira）蝉联全球“药王”宝座十余年，深刻塑造了行业格局。然而，真正的巨头并非诞生于单一的成功，而在于穿越周期的能力。当修美乐的专利壁垒最终被打破，销售额如预期般断崖式下滑时，整个行业都在审视：艾伯维是否会随之坠落？2025年最新出炉的财务数据，给出了一个清晰而有力的否定答案。艾伯维非但没有陷入困境，反而上演了一场教科书级的战略接力，以多元化的增长引擎，开启了后“药王”时代的强劲新篇章。一、财务透视：穿越“专利悬崖”后的稳健增长2025年，艾伯维向市场交出了一份超越预期的中期成绩单，用实际业绩证明了其战略转型的有效性。根据公司公布的2025年第二季度及上半年财报，其增长曲线稳健而清晰。2025年第二季度，公司实现净收入154.2亿美元，较去年同期增长6.6%，超出市场预期近4亿美元。更能反映盈利质量的指标——调整后稀释每股收益达到2.97美元，同样高于市场预期。纵观整个2025年上半年，公司总营收达到287.66亿美元，同比增长7.4%。基于上半年的强劲表现，管理层信心十足地将2025年全年的调整后每股收益指引，从原来的11.67-11.87美元上调至11.88-12.08美元。这份成绩单的含金量，在于其增长是在核心支柱产品销售额骤降的背景下实现的。曾经贡献超200亿美元年收入的“现金奶牛”修美乐，因专利到期和生物类似药的激烈冲击，其2025年上半年的全球销售额同比暴跌54.7%，仅录得23.01亿美元。然而，如此巨大的收入“窟窿”已被迅速填补。推动增长的核心动力，来自于公司成功培育的新一代产品组合，以及神经科学等新兴业务的出色表现，这标志着艾伯维已成功穿越了医药行业最令人畏惧的“专利悬崖”。二、产品矩阵：新一代“双子星”领衔的多引擎格局艾伯维的成功转型，绝非依赖运气，而是其前瞻性研发和精准市场布局的必然结果。公司的产品管线已从过去修美乐“一枝独秀”，进化为由免疫学、神经科学、肿瘤学、美学等多领域驱动的“群星闪耀”格局。1.免疫学：“双子星”完成完美接力免疫学业务始终是艾伯维的基石，2025年上半年贡献了138.95亿美元收入，占总营收的近一半。其中，新一代“免疫双子星”——Skyrizi（利生奇珠单抗）和Rinvoq（乌帕替尼）——已毫无争议地成为公司的新增长支柱。Skyrizi：这款靶向IL-23的单抗药物表现尤为惊艳。2025年上半年销售额高达78亿美元，同比激增约69%。其增长动力来源于在斑块状银屑病、银屑病关节炎以及克罗恩病等多个重要适应症上的快速放量。凭借卓越的临床数据和一年仅需给药四次的便捷性，Skyrizi正从竞争对手中夺取大量市场份额，其2025年全年销售额预期已被上调至171亿美元。有分析预测，它有望在2026年突破200亿美元销售额大关，成为新的“药王”候选者。Rinvoq：作为一款口服JAK1抑制剂，Rinvoq凭借其广泛的适应症覆盖和优异的疗效同步高增，上半年销售额达到37亿美元。公司为其规划了清晰的“三波”适应症拓展战略，已从类风湿关节炎扩展至特应性皮炎、溃疡性结肠炎等领域，并最新获批用于治疗巨细胞动脉炎（GCA），持续开拓市场边界。2.神经科学：快速崛起的第二增长曲线神经科学是艾伯维近年来增长最快的业务板块之一，2025年上半年收入达49.65亿美元，同比增长超过20%。该领域已形成了丰富的产品组合：Vraylar（卡利拉嗪）：用于治疗精神分裂症和双相情感障碍，是目前的拳头产品，上半年销售额16.65亿美元。偏头痛产品线：包括Ubrelvy和Qulipta，分别针对急性偏头痛和预防性治疗，两者上半年均实现了超过30%的高速增长，展现出巨大潜力。3.肿瘤学及其他：创新与收购并进在肿瘤领域，艾伯维在维护老产品（如BTK抑制剂Imbruvica和Bcl-2抑制剂Venclexta）市场的同时，正通过积极的业务发展（BD）和收购引入前沿疗法。例如：通过收购获得的FRαADC药物Elahere，上半年销售额增长75.5%，达到3.38亿美元。公司首款自研ADC药物Teliso-V也于2025年获批上市，瞄准c-Met靶点。此外，在美容（保妥适等）和眼科领域，艾伯维也拥有稳定的业务布局，共同构成了其多元化的收入来源。为了更直观地展示其核心产品线的表现，下表汇总了2025年上半年部分关键产品的业绩：三、竞争优势：构筑穿越周期的深厚“护城河”艾伯维能够实现平滑过渡并持续增长，源于其构建了一套难以被复制的系统性竞争优势，即深厚的企业“护城河”。首先，是前瞻性的研发与管线布局能力。艾伯维的“双子星”接力并非临阵磨枪。早在修美乐如日中天的2016年前后，公司就已前瞻性地布局了Skyrizi和Rinvoq的研发。这种“在晴天修屋顶”的战略远见，确保了当旧产品的专利浪潮褪去时，新产品已准备好扬帆起航。这种能力，建立在对疾病机理的深刻理解和对临床需求变迁的精准把握之上。其次，是卓越的产品生命周期管理（LCM）与专利策略。修美乐在美国市场维持长达20年的市场独占期，远超通常的10年专利保护期，这本身就是一项商业传奇。公司通过围绕制剂、制造方法和使用方法构建复杂的专利网，极大地延长了产品的商业价值周期。这套成熟的策略也被应用于新产品的开发中，例如Skyrizi的可注射剂型本身就构成了额外的技术壁垒。再者，是“敢于亮剑”的临床开发与商业化实力。艾伯维的新药上市往往伴随着直接针对市场领先产品的“头对头”临床试验。例如，Skyrizi在银屑病和克罗恩病领域分别通过临床试验，证明了其疗效优于当时的市场主流药物。这种以硬数据直面竞争的方式，能迅速建立临床专家和市场的认可，为快速抢占市场铺平道路。最后，是高效的外部创新整合能力。除了内部研发，艾伯维始终保持开放的姿态，通过授权引进（License-in）和收购（M&A）来快速扩充管线。2025年上半年，公司就达成了多达10笔业务发展交易，积极布局三特异性抗体等前沿技术。例如，年初与先声药业就一款多发性骨髓瘤三抗药物达成的许可协议，潜在价值超过10亿美元。这种“自主研发+外部引进”的双轮驱动模式，确保了其创新引擎永不熄火。四、中国战略：从“在中国”到“与中国共同创新”对于艾伯维而言，中国早已超越了一个重要销售市场的范畴，更是其全球创新网络中不可或缺的战略支点。公司正践行着从“在中国，为中国”到“在中国，为全球”的深度本土化承诺。深化本土医疗生态合作是艾伯维中国战略的鲜明特征。公司积极携手中国医学界，推动诊疗标准的升级。例如，2025年3月，艾伯维联合近300位跨领域权威专家，发起“免疫介导炎症性疾病（IMID）多学科合作倡议”，旨在打破科室壁垒，为中国数量庞大的慢性免疫疾病患者构建更高效、以患者为中心的诊疗模式。这类举措不仅造福患者，也深化了公司与本土医疗体系的融合。将中国纳入全球研发核心是另一关键举措。目前，中国已参与了艾伯维全球85%的多中心三期临床试验，多项研究已进入关键阶段。这意味着，中国患者能更早地用上全球创新药，而中国的研究数据和临床经验也能直接反哺全球药品研发。投资中国生物科技前沿，则是艾伯维链接中国创新源头的直接方式。2024年，艾伯维达成的全球合作协议中，有17%是与中国企业合作的。其中最引人注目的包括以17.1亿美元与明济生物合作开发下一代炎症性肠病（IBD）疗法，以及此前提到的与先声药业就三抗药物SIM0500达成的超10亿美元许可协议。这些交易并非简单的产品引进，而是真正意义上与中国创新力量共同开发，让“中国智造”的新药有机会走向全球市场。