Water Street's Partnership with Leading Medical Products Company Leads to FDA Approval of First Presentation of Bivalirudin in Frozen Premixed Ready-to-Use Formulation

CHICAGO, Jan. 22, 2018 /PRNewswire/ -- Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that its development partnership with a leading medical products company has resulted in the U.S. Food and Drug Administration (FDA) approval of cardiovascular medication Bivalirudin in 0.9 percent Sodium Chloride Injection (bivalirudin). It is the first presentation of bivalirudin in a frozen, premixed, ready-to-use formulation.

The approval of bivalirudin marks the fifth drug product successfully developed by Water Street's company, Celerity Pharmaceuticals, LLC. Celerity both funded and led the development and approval of bivalirudin through its strategic partnership with the medical products company. Following FDA approval of bivalirudin, Celerity transferred ownership to its partner, which will commercially launch the new product in the United States.

"We are honored that our partner entrusted us to develop this new presentation of bivalirudin ? the first in the United States and the only available in a frozen premixed solution," said Al Heller, operating partner with Water Street and chairman of Celerity. "We look forward to continuing to work together to advance our partner's goal of engaging its innovative technologies with medicines that help simplify drug preparation and help bolster clinician efficiency."

About Water Street

Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading health care companies on its investments including Johnson & Johnson, Medtronic, Smith & Nephew and Walgreen Co. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit waterstreet.com.

SOURCE Water Street Healthcare Partners