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Alcresta Announces Series A Venture Capital Financing

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By: Sean Moloughney

Editor, Nutraceuticals World

Alcresta, Newton, MA, a company developing innovative enzyme-based nutritional products for
infants, adults and patients battling acute or chronic conditions, has announced a $10 million Series A venture capital financing. Proceeds from the financing will support Alcresta in leveraging its existing proprietary platform to discover and develop a broad range of enzyme-based nutritional products and medical devices designed to improve clinical outcomes, enhance quality of life, and reduce health care costs. Alcresta’s Series A venture capital financing was led by venture investors Bessemer Venture Partners, Frazier Healthcare and Third Rock Ventures, and is synergistic with the recent launch and $15 million Series A financing of Allena Pharmaceuticals. The investment introduces a new biotech business model that enables the two wholly independent companies to maintain separate and distinct product pipelines, while sharing resources and leveraging the operational experience and non-systemic protein delivery expertise of the combined management team.

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