10:25 AM EST, 01/06/2025 (MT Newswires) -- Revance Therapeutics ( RVNC ) has received a new buyout proposal from Swiss medical aesthetics firm Teoxane Laboratories, which is offering to acquire the US-based biotechnology company for $3.60 per share in cash, topping a prior bid from Crown Laboratories of $3.10 per share.

RVNC shares were up almost 16% in recent trading.

Revance and privately-held Crown Laboratories agreed in August to a deal valued at around $924 million that would have paid $6.66 for each Revance share, also in cash. The bid was revised last month after Teoxane moved to cancel its exclusive distribution agreement with Revance, citing terms of the Crown acquisition proposal.

Teoxane currently owns about 6.2% of Revance's outstanding shares. Teoxane said it believes it can clear regulatory reviews and close a transaction quickly given the companies' existing partnership.

Revance Chief Executive Mark Foley said Monday through a spokesperson that he had no comment at this time regarding the Teoxane offer. Crown Laboratories did not immediately respond to a request for comment Monday from MT Newswires.

Price: 3.58, Change: +0.49, Percent Change: +15.86