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Linden Capital Partners Acquires Alcresta Therapeutics, Inc. | ||
By: PR Newswire Association LLC. - 12 Mar 2024 | Back to overview list |
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CHICAGO and WALTHAM, Mass., March 12, 2024 /PRNewswire/ -- Linden Capital Partners ("Linden"), a Chicago-based private equity firm focused exclusively on the healthcare industry, announced today the completion of its acquisition of Alcresta Therapeutics, Inc. ( "Alcresta"), a leader in commercializing novel enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases, from Athyrium Capital, Bessemer Venture Partners, Frazier Healthcare Partners, and HealthQuest Capital. HealthQuest Capital subsequently re-invested in Alcresta and will continue as a minority shareholder and board member. Alcresta recently announced 510(k) clearance of its next-generation RELiZORB® (iMMOBILIZED LIPASE) cartridge by the Center for Devices and Radiological Health (CDRH) of the U.S. Food and Drug Administration (FDA). The next-generation RELiZORB device was developed to address the enteral nutrition needs of a wider population of patients living with rare diseases and is expected to launch in Q2 2024. To support Alcresta's growth in the coming years, Linden has assembled a Board of Directors that brings considerable expertise in healthcare, product launches, and commercial execution. The new Board will work closely with the Alcresta team to drive ever improving outcomes for patients and healthcare providers. Ron Labrum, industry veteran and Operating Partner at Linden, who will join Alcresta as Chairman of the Board of Directors, said "I am very excited to join the Alcresta team to support the continuing growth of the company. Alcresta's rapid progress has made a meaningful difference for patients living with rare diseases that struggle with fat malabsorption. Linden feels very fortunate to partner with Alcresta as it prepares for new levels of momentum and success in the years ahead." "We are grateful to the team of investors, led by Athyrium Capital, that brought significant value creation to Alcresta and guided the sale to Linden," Alcresta CEO Daniel Orlando said, adding, "We have been very impressed with Linden's thoughtful investment approach as we finalize launch plans for the next generation RELiZORB and accelerate R&D efforts for an iteration to treat enterally fed patients in the NICU. We anticipate considerable growth in the years to come and appreciate the added strategic planning and investment expertise Linden and the new Board bring to Alcresta." About Linden Capital Partners About Athyrium Capital Management About HealthQuest Capital About Alcresta Therapeutics, Inc. Media Contact:
View original content:https://www.prnewswire.com/news-releases/linden-capital-partners-acquires-alcresta-therapeutics-inc-302086718.html SOURCE Alcresta Therapeutics, Inc. |
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