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Venture trio re-invest in medical nutrion business Alcresta through $10m round

22 Jul 2013

Life TechnologiesBessemer Venture Partners, Frazier Healthcare and Third Rock Ventures have re-upped their investment in medical nutrition company Alcresta by leading a $10m financing round.

The Series B funding will be used to advance regulatory filings, commercial planning and other preparation for an expected 2014 launch of the company’s lead nutritional product, it said.

Alcresta aims to develop innovative enzyme-based products which battle acute conditions or chronic diseases.

Bessemer partner Stephen Kraus said, “We believe Alcresta has the potential to bring to the market an entirely new class of products for those in need of novel options to help the digestion and absorption of key nutrients that are critical to good health.

“The team has made tremendous advances in the development of its platform and programs and is entering the next phase of growth to commercialize its lead product.

“With this progress and the team’s proven ability to translate promising development programs into successful commercial products, we are confident that Alcresta is positioned to drive real value creation and have a significant market impact.”

Alcresta said the demand for high-quality nutritional products was driving the growth of a $36bn global market for adult and infant nutritional drinks.

It said the global market was expected to expand to more than $50bn by 2016, primarily due to global demographic growth and awareness of the critical role proper nutritional care plays in the management of acute conditions and chronic diseases in the adult population.

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