AEON Biopharma names Rob Bancroft as new CEO

IRVINE, Calif. - AEON Biopharma, Inc. (NYSE: AEON), a clinical-stage biopharmaceutical company with a market capitalization of $4.27 million, has appointed Rob Bancroft as its new President and Chief Executive Officer, the company announced today. Bancroft, who will assume his new role on April 29, 2025, will also join AEON’s Board of Directors. The appointment comes as the company faces significant challenges, with InvestingPro data showing the stock trading near its 52-week low of $0.38.

The incoming CEO brings over 25 years of experience in the life sciences industry, including a tenure at Revance Therapeutics as General Manager of the Therapeutics business. At Revance, he successfully launched Daxxify® in the treatment of cervical dystonia. Bancroft’s strategic focus on expert endorsement and payer coverage led to strong early adoption in the competitive $3 billion botulinum toxin therapeutics market. According to InvestingPro analysis, AEON’s financial health score currently stands at 1.3, rated as ’Weak’, with 11 additional key insights available to subscribers.

Prior to his role at Revance, Bancroft was President of Smith & Nephew’s Biotherapeutics division, where he accelerated growth following the acquisition of Healthpoint Biotherapeutics. He also served as CEO of QMENTA, a neuroimaging SaaS startup, and held senior leadership roles at Allergan, contributing to the global strategy for BOTOX®.

"We are excited to welcome Rob as the new President and CEO of AEON. He is an exceptional leader with a strong track record of building value through execution of well-defined strategies," stated Mr. Jost Fischer, Chairman of the AEON Board and Interim President and CEO.

Bancroft’s appointment comes at a pivotal time for AEON as the company advances its ABP-450 program. With a current ratio of 0.11 and short-term obligations exceeding liquid assets, the company faces immediate financial challenges. ABP-450, a botulinum toxin complex with the same molecular weight as BOTOX, aims to provide a biosimilar alternative for therapeutic indications. InvestingPro subscribers can access detailed financial metrics and expert analysis to better understand the company’s development trajectory. Bancroft expressed enthusiasm for the potential of ABP-450 to offer a clinically comparable option to BOTOX, which could enhance access to care and support system affordability.

AEON anticipates announcing the results of its Biosimilar BPD Type 2a meeting with the FDA in the second half of 2025, which will inform the next steps in ABP-450’s development. The company holds exclusive rights for the therapeutic use of ABP-450 in multiple territories, including the United States and the European Union.

This news release is based on a press release statement from AEON Biopharma. The company’s forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. With analysts not anticipating profitability this year and an EPS forecast of -$3.35 for FY2025, investors should carefully consider these factors. AEON does not undertake any duty to update these forward-looking statements.

In other recent news, AEON Biopharma, Inc. has announced significant changes to its executive leadership team. Jost Fischer, who was previously the Chairman of the Board, has been appointed as the Interim President and Chief Executive Officer. Jennifer Sy has been promoted to Chief Accounting Officer and principal financial officer. These appointments are part of AEON Biopharma’s strategic efforts to strengthen its management team as the company focuses on developing its pharmaceutical preparations. The company confirmed that there are no familial relationships or related person transactions concerning these appointments. Jennifer Sy, who has an extensive background in finance and accounting, previously served as Vice President, Corporate Controller at AEON Biopharma. Her base salary has been increased from $245,000 to $275,000 with her promotion. The leadership changes were detailed in the company’s latest 8-K filing with the Securities and Exchange Commission.

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