Alcresta Receives New Innovative Technology Contract From Vizient, Inc. For Relizorb (Immobilized LIPASE) Cartridge

WARREN, N.J.--(BUSINESS WIRE)--Alcresta Therapeutics, Inc. announced RELiZORB has received an Innovative Technology contract from Vizient, Inc. the largest member-driven health care performance improvement company in the country. The awarded contract, effective Sept. 1, 2017, was based on a recommendation of RELiZORB by hospital members who serve on one of Vizient’s member-led councils. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organization’s care delivery and business model.

RELiZORB is the only external digestive enzyme cartridge designed to mimic the normal pancreatic function of lipase. RELiZORB is indicated for use in pediatric patients (ages 5 years and above) and adult patients to hydrolyze fats while receiving enteral nutrition. RELiZORB significantly increases fat absorption by breaking down fats found in enteral nutrition formulas, leading to an increased availability of critical calories and important healthy fats that may otherwise pass through the body unabsorbed. A recent clinical publication in the Journal of Pediatric Gastroenterology and Nutrition demonstrated the efficacy and safety of RELiZORB use in correcting deficiencies of healthy fats that are often observed in patients receiving enteral nutrition

“RELiZORB is a significant development for patients requiring enteral nutrition who suffer from the devastating consequences of malnutrition and fat malabsorption commonly seen in tube fed patients with Cystic Fibrosis, Gastric Cancers, Pancreatitis, and other serious diseases. Alcresta Therapeutics is proud and excited to have been awarded this contract and looks forward to providing Vizient’s diverse membership and customer base enhanced savings for RELiZORB,” stated Daniel Tassé, Chief Executive Officer at Alcresta Therapeutics, Inc.

“Due to the number of products and services being released and marketed as ‘innovative’, member hospitals truly value the thorough innovative technology review process in place at Vizient to help them identify products worth further evaluation at their own facilities,” said Debbie Archer, director of procurement and leader of Vizient’s Innovative Technology program for suppliers. “After a full review of RELiZORB, Vizient’s member council agreed this solution offers unique and incremental benefit over other products available on the market today, and recommended it for an Innovative Technology contract. We are pleased to award this new contract to Alcresta Therapeutics.

Vizient, Inc. represents the combined strengths of the organizations formerly known as VHA Inc., University Health System Consortium, Novation and MedAssets’ Spend and Clinical Resource Management. Since 2003, nearly 2200 new and innovative products and technologies have been submitted through the Vizient Innovative Technology program. Vizient works with member-led councils and task forces to identify and review potentially innovative products. If it is determined that a product is innovative, a contract may be awarded outside of Vizient’s competitive bid cycle.

About Alcresta® Therapeutics, Inc.

Alcresta Therapeutics, Inc. is dedicated to developing and commercializing novel enzyme-based products designed to treat gastrointestinal disorders and rare diseases. The company uses its proprietary technology platform to support a broad pipeline of products, with an initial focus on pancreatic insufficiency, which results in malabsorption common in cystic fibrosis, digestive cancers, premature birth and other serious diseases.

The Alcresta Therapeutics, Inc. management team has extensive experience in pharmaceutical and nutritional product development. The Corporate office is based in Warren, NJ and is backed by top-tier investors; Athyrium Capital Management, Bessemer Venture Partners, Frazier Healthcare and Third Rock Ventures. More information can be found at www.alcresta.com.