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We partner with the
world’s premier healthcare corporations to achieve more new product approvals.

Capstone advances our corporate partners' goals of bringing more new healthcare products to market, quickly and efficiently. We lead product development, manage regulatory services and achieve timely approval of new healthcare products on our clients' behalf. Our unique partnership model enables our clients to expand their product development portfolio without increasing their operating expenses.

Company History

Capstone is the parent company of Celerity Pharmaceuticals, Gage Development and Balmoral Medical, which support the development work that we conduct on behalf of our clients. Capstone is also the parent company of Long Grove Pharmaceuticals. Long Grove develops complex generic products through the ANDA regulatory pathway, as well as proprietary products through the 505(b)(2) regulatory pathway. Founded in 2013, Capstone is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry.


Dan Robins, PhD,

Dan Robins has more than 25 years of pharmaceutical industry experience focused principally on research and development. He is the former vice president of global development for Mylan, where he was responsible for injectable products. His former business, Bioniche Pharma, where he led research and development in Ireland, was acquired by Mylan in 2010. Prior to Bioniche Pharma, Dan was vice president of product development for Abraxis BioScience (formerly American Pharmaceutical Partners Inc.) He also held leadership positions at Barr Laboratories, Inc. and scientific roles at Schering-Plough Research Institute, Mallinckrodt Veterinary and Pentech Pharmaceuticals. Dan received master’s and doctorate degrees in chemistry from The Ohio State University, and his master’s degree in business administration from New York University. He earned his bachelor’s degree from LaSalle University.

Al Heller,

Al Heller is the former president and CEO of American Pharmaceutical Partners Inc. (APPI), a leading manufacturer of multi-source and branded injectable pharmaceutical products. He also was senior vice president and president of Global Renal Operations for Baxter International, where he led global operations for the Renal and Transfusion Therapies divisions, global manufacturing and the Office of the Chief Scientific Officer. Al began his career at G.D. Searle. During his 23 years with the company, he was promoted to numerous positions, including co-president and COO, and executive vice president and president of Searle Operations. Al currently serves as an operating partner with Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry. He received his bachelor’s degree from the University of Illinois, Chicago, and his master’s degree in business administration from DePaul University.

Ellen Hoffing,
Chief Business Officer

Ellen Hoffing has more than 30 years of pharmaceutical, diagnostics, and healthcare consumer products industry experience in general management, portfolio and strategic planning, marketing and finance. Most recently, she served on the board of directors of Perrigo Co. Plc and provided consulting services in the public and private healthcare sectors. Ellen served as the COO at Neos Therapeutics, and as Chairman and CEO of a diagnostic and early-stage drug development company in the Alzheimer’s space. She started her career at Searle and served on the management team. Ellen also held executive management roles at Baxter, American Pharmaceutical Partners Inc. and Merisant. She received her bachelor’s degree in accounting from the University of Illinois, and her master’s degree in business administration from Northwestern’s Kellogg School of Management.

Peter Karas,
Chief Commercial Officer

Peter Karas brings to Capstone more than 25 years of commercial leadership experience in the pharmaceutical industry. He has spearheaded business development, marketing, and sales operations for a range of global organizations with particular expertise in specialty injectable drugs, medical devices, and IV therapy. Prior to joining Capstone, Peter served as vice president of global business development for Xellia Pharmaceuticals, where he built the company’s sales organization and established its U.S. commercial infrastructure. He also secured numerous opportunities for Xellia to market and distribute new product portfolios. Previously, Peter was vice president of marketing of U.S. Medication Delivery for Baxter. He also held senior positions with Fresenius Kabi, Amsino International, and Hospira, Inc. Peter began his career as a product manager and marketing analyst with Abbott Laboratories. He earned his bachelor’s degree from Augustana College and did coursework at Loyola University Graduate School of Business. Peter also completed a Mandarin Chinese program at Anhui University in Hefei, China and speaks Mandarin Chinese.

Peter Strothman,

Peter Strothman has spent his career investing in the healthcare and private equity industries. He invests and creates value in companies specializing in life sciences, specialty pharmaceutical products and services, and general healthcare products and outsourced services. As a partner with Water Street, Peter has built a leading group of pharmaceutical companies. Prior to joining Water Street, Peter was a principal with JLL Partners, where he focused exclusively on healthcare investments. He began his career in the Global Mergers and Acquisitions group of Lehman Brothers. Peter received a bachelor’s degree in economics from Harvard University.


Capstone is the parent company of Celerity Pharmaceuticals, Gage Development, Long Grove Pharmaceuticals and Balmoral Medical. If you are interested in learning more about Capstone, please email us at info@capstonedevservices.com.