|By PR Newswire||
|August 1, 2014 04:30 AM EDT||
CAMBRIDGE, England, August 1, 2014 /PRNewswire/ --
Esperante, the private, Netherlands-based life science investment company is pleased to announce that it has completed the acquisition of Altacor Limited, a specialty ophthalmology company. Financial terms were not disclosed.
Esperante is the investment arm of the C&P Group, a global, privately owned group of life science businesses including Nordic Pharma, a fully-integrated, pan-European pharmaceutical and services company, PolyPeptide Laboratories, a global peptide bulk drug actives producer and Euro-Diagnostica, a European-based immunology in vitro diagnostics business.
Under Esperante's stewardship Altacor will continue to operate as a specialty ophthalmology company and expects to grow its revenues and market presence significantly by:
- expanding its commercial business and specifically the market share of its existing portfolio of Clinitas® products for dry eye, the blepharitis range (Blephakit®) and ocular supplements (Eyebar®) extending its geographic sales reach;
- adding to the marketing portfolio by the acquisition and in-licensing of novel ophthalmic therapies and surgical devices;
- adding to the marketing portfolio by advancing its current pipeline which is focused on fast to market, repositioned and orphan products; and
- leveraging opportunities within Esperante and its sister companies.
Dean Slagel, Managing Director of Esperante said, "Esperante has been a minority investor in Altacor for the past 5 years and we are now very excited to be acquiring the entire business to propel Altacor's promising product and pipeline product portfolio towards an ever more successful and profitable level. We look forward to achieving these objectives in close collaboration with Altacor's well-proven management team."
Dr Fran Crawford, CEO of Altacor added, "We are extremely pleased that Altacor has been acquired by Esperante and that it plans to pursue and expand the company's existing strategy within a holding group that has a successful track record in building European businesses. I am also delighted that our staff will all remain in position and will continue to drive product sales and pipeline development in the company's chosen markets."
Altacor were advised in this transaction by Longcross Advisers LLP.
Altacor is a specialty ophthalmology company with a portfolio of marketed and development pharmaceutical products. The Company differentiates its development products primarily through formulation or reprofiling existing compounds with established clinical activity and systemic safety.
Altacor has eight products marketed in the UK and Ireland (Clinitas®, Clinitas® range, Blepharitis range and ocular supplements) which are commercialised through its own sales and marketing organisation and network.
Clinitas and Clinitas GEL are prescription products for the treatment of moderate dry eye. The Clinitas® range, comprising Clinitas Hydrate® and Clinitas Soothe® are also for treating the major causes of dry eye, and are sold to the retail market via pharmacists and opticians.
The Blepharitis range loosens and removes Meibomian secretions, which underlie blepharitis.
Altacor is also present in the area of ocular supplements. EyeBar® is an innovative chocolate bar containing the well-established AREDS2 formula for the maintenance of healthy vision. The AREDs studies have shown that the combination of metals (zinc/copper), vitamins (Vitamin C and E) and macular pigments slows the progression of dry age related macular degeneration (AMD).
About Esperante BV
Esperante is a privately held investment company focussed on investing in therapeutics, in vitro diagnostics and selected medical device companies principally in Europe and North America. Esperante currently has a portfolio of 18 companies.
e-mail: [email protected]
Dr Fran Crawford
Chief Executive Officer
e-mail: [email protected]
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