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.
About Altacor
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.
Contacts:
Esperante BV
Dean Slagel
Managing Director
Tel: +44-(0)7796-017-725
e-mail: dslagel@esperanteventures.com
Altacor
Dr Fran
Crawford
Chief Executive Officer
Tel: +44-(0)1223-421411
e-mail: fran.crawford@altacor-pharma.com