Governor Lee, Commissioner Rolfe Announce Revance Therapeutics to Relocate Global Headquarters to Nashville

Rhea-AI Summary

Revance Therapeutics (NASDAQ: RVNC) will relocate its headquarters from Newark, California, to Nashville, Tennessee, investing over $10 million and creating approximately 150 jobs over the next five years. The new headquarters will feature a training and education center for employees and healthcare providers. Revance is known for its innovative aesthetic and therapeutic products, including the investigational neuromodulator DaxibotulinumtoxinA for Injection, currently under FDA review. This move marks a significant expansion for the company, promising growth and innovation in Nashville.

Positive

• Relocation to Nashville signifies a strategic move enhancing corporate growth.
• Investment of over $10 million expected to create approximately 150 new jobs.
• New headquarters will include a training center, boosting employee and healthcare provider education.
• Revance's investigational product DaxibotulinumtoxinA is under FDA review, indicating potential future revenue growth.

Negative

• None.

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Revance Therapeutics (NASDAQ: RVNC) officials announced today that the company will relocate its headquarters from Silicon Valley’s Newark, California, to Nashville, Tennessee.

Nashville Skyline (Photo: Business Wire)

As part of the relocation, the biotechnology company will invest more than $10 million and create nearly 150 jobs over the next five years in addition to the company’s more than 450 employees currently located in its California offices and throughout the U.S.

The new headquarters will include a training and education center where employees, healthcare providers, consumers and patients can learn about the latest innovations in the company’s aesthetics, therapeutics and financial technology (fintech) products and services.

Revance Therapeutics is a biotechnology company focused on innovative aesthetic and therapeutic offerings, including its next-generation, investigational neuromodulator product, DaxibotulinumtoxinA for Injection. DaxibotulinumtoxinA for Injection is currently under review with the U.S. Food and Drug Administration (FDA) for glabellar (frown) lines and is being evaluated in other aesthetics and therapeutic indications, including cervical dystonia and adult upper limb spasticity.

Revance has launched a unique portfolio of premium products and services for aesthetics practices, including the exclusive RHA® Collection of dermal fillers, the first and only range of FDA-approved fillers for correction of dynamic facial wrinkles and folds, and HintMD, a fintech platform that offers integrated smart payment, subscription and loyalty services.

Since 2015, TNECD has supported nearly 80 economic development projects in Davidson County, resulting in more than 23,500 job commitments and approximately $2.3 billion in capital investment.

QUOTES

“Any time a business chooses to relocate to Tennessee, it means growth for our economy and new opportunities for our residents. As governor, one of my priorities is ensuring high quality jobs from committed companies, and Revance Therapeutics is doing just that. I welcome them to our state and wish them great success.” – Gov. Bill Lee

“We are pleased to welcome another West Coast, California-based company to Tennessee. Revance Therapeutics is on the cutting edge of biotechnology and will be an asset to Nashville’s business landscape. We thank the company for choosing Tennessee for this project and for creating 150 new jobs in Davidson County.” – TNECD Commissioner Bob Rolfe

“We are thrilled to be relocating our corporate headquarters to Nashville as the area will provide the foundation for our new, world-class training and education center and growth initiatives going forward. Nashville is one of the top business growth areas in the U.S. offering an educated, diverse and growing population along with a favorable tax and policy environment for companies like ours, making it an ideal, centralized location for Revance’s future growth. We anticipate our corporate relocation to be part of an increased investment in Nashville from other biotechnology and healthcare companies, as innovation and growth defines the city.” – Mark J. Foley, president and CEO of Revance

“TVA and Nashville Electric Service congratulate Revance Therapeutics on its decision to locate its headquarters in Nashville. Helping to foster quality job opportunities and investment in the Valley is fundamental to TVA’s mission of service and we are proud to partner with Nashville Area Chamber of Commerce and Tennessee Department of Economic and Community Development to help further that mission and celebrate this announcement.” – John Bradley, TVA senior vice president of Economic Development

“Nashville has become a hub for innovation in healthcare and Revance will be an excellent addition to this community’s culture and our regional healthcare portfolio.” – Sen. Brenda Gilmore (D-Nashville)

“We are very excited about the arrival of Revance Therapeutics to Nashville and Davidson County. The prospect of nearly 150 new biotech jobs coming to the area is going to be a great shot in the arm to the local economy. Thanks to the people at Revance, local officials and TNECD for working together to make this happen.” – Rep. Harold M. Love, Jr. (D-Nashville)

About Revance Therapeutics, Inc.

Revance Therapeutics, Inc. is a biotechnology company focused on innovative aesthetic and

FAQ

What is the significance of Revance Therapeutics relocating to Nashville?

Revance Therapeutics' relocation to Nashville represents a strategic expansion, promising economic growth and job creation in the area.

How much is Revance investing in the Nashville headquarters?

Revance Therapeutics is investing over $10 million in its Nashville headquarters.

What new jobs will Revance create in Nashville?

Revance Therapeutics plans to create approximately 150 new jobs over the next five years as part of its relocation.

What products is Revance Therapeutics known for?

Revance Therapeutics is recognized for its innovative aesthetic and therapeutic products, including DaxibotulinumtoxinA, which is currently under FDA review.

What future projects does Revance have in Nashville?

Revance plans to establish a training and education center at its new Nashville headquarters to support employees and healthcare providers.