(CORRECTION: Changed title to remove reference to the creation of a cancer pill and change enzyme based mixture information to products that help cancer patients in their nutritional needs.)
Alcresta announced that it has secured US$10 million from its Series B equity financing. The investors include existing partners Third Rock Ventures, Frazier Healthcare, and Bessemer Ventures. The group of investors also provided Alcresta with a like-sized investments in its Series A equity financing in 2012. The lastest round of investments raised the total amount of financing to US$20 million.
The funds should allow Alcresta to introduce its products to pharmacy shelves and hospitals by next year after it wins necessary approvals from the FDA.
Alcresta is creating an alternative therapy for cancer patients. Certain cancer patients cannot cope with chemotherapy especially if the body is not healthy enough. These patients have no choice but to start using a feeding tube just to stabilize bodyweight. Other patients might take a significant amount of porcine pancreatic enzyme pills just to make certain that the body system is getting the vital nutrients it needs to function.
Alcresta is producing a line of products that provides innovative enzyme based products that help cancer patients in their nutritional needs in order to improve health and manage the disease.
"These people need more calories simply to go through chemotherapy or radiotherapy, not to mention other things, and they cannot do that, because they do not get this machinery. We have a simple solution to restore this machinery which is lost or otherwise not fully developed," Alexey Margolin, CEO of Alcresta, explained.
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