Cambrooke Foods, Inc. Announces Series A Financing, Led by Galen Partners
AYER, Mass., March 8, 2011 /PRNewswire/ -- Cambrooke Foods ("Cambrooke"), a leading provider of high quality Specialty Medical Foods to those born with inborn errors of metabolism, announced today that it closed its recent Series A financing led by Galen Partners, a leading healthcare growth equity firm. Cambrooke chose to partner with Galen Partners to both accelerate its organic growth rate and fund specific product-category acquisition opportunities.
As parents of two children with Phenylketonuria ("PKU"), David and Lynn Paolella founded and built their company with a unique passion and hold their products to the highest standard. Over the past 10 years, Cambrooke has developed a reputation as a provider of premium low protein foods and formula products to over 60,000 sufferers worldwide. Cambrooke has launched several new formula products over the past few years, the most recent of which, BetterMilk™ is based on a proprietary formulation of, glycomacropeptide (GMP), licensed from the University of Wisconsin. First in PKU's 50 year treatment history, BetterMilk™ represents the first intact protein used in dietary management of this disorder. Clinical studies have shown improved patient outcomes using GMP based protein over traditional therapeutic options. Cambrooke plans to launch several new products this year and is actively assessing new in-licensing and product acquisition candidates.
"Galen has gained recognition as a leading healthcare private equity investor by practicing a philosophy we call collaborative capital," said Zubeen Shroff, managing director at Galen Partners. "Cambrooke Foods founders have exhibited tremendous foresight, passion and leadership in building their Company. Cambrooke has reached a scale and is on a growth trajectory similar to many of our most successful portfolio companies at the time of investment. We look forward to working with management leveraging our experience, relationships and strategies to help Cambrooke achieve continued success."
"Cambrooke was founded based on a mission of serving the community of those requiring dietary therapy. To this day, that spirit is behind every product we launch and every business decision we make. We look forward to continue in this spirit as we accelerate our trajectory through our collaboration with Galen Partners." said David Paolella, Chief Executive Officer, Cambrooke Foods.
About CAMBROOKE FOODS
Cambrooke Foods manufactures innovative clinical nutrition products for patients who require specialized "diet for life" therapies. Founded in 2000 by the parents of two children with classical PKU, Cambrooke Foods' first mission is to serve the community of those requiring dietary therapy. The company is currently focused on providing a line of glycomacropeptide (GMP) based products for people diagnosed with IEPM. The first product in this line, BetterMilk™ GMP, has been extremely well received in the marketplace.
About GALEN PARTNERS
Galen Partners is a leading healthcare private equity investment firm based in Stamford, Conn. The firm focuses on growth equity investments in healthcare technology-enabled services, medical devices and specialty pharmaceutical companies. With nearly $1 billion under management raised through five funds, Galen has invested in more than 70 companies since 1990. The firm continues a tradition of strategic collaboration and partnership with its portfolio company management teams to build healthcare market leaders. Please visit Galen's Web site at http://www.galen.com.
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SOURCE Cambrooke Foods, Inc.