Newton, Massachusetts -- Biotechnology company Alcresta has raised $50 million in new equity investment, according to an SEC regulatory filing.
Alcresta is developing a proprietary enzyme-based platform that it says "supports a broad pipeline of products, with an initial focus on pancreatic insufficiency."
Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.
A total of nine investors participated in the offering, which included security sold in connection with the conversion of convertible promissory notes.
Alcresta's CEO is Daniel Tasse, who was previously chairman and CEO of Ikaria from 2008 until its sale for $2.3 billion to Mallinckrodt in April 2015.