SAN FRANCISCO, Dec. 20, 2018 /PRNewswire/ -- Halo Labs, a life science instrumentation company developing tools for biologics researchers, today announced it has closed a $5.6M Series B financing round led by Research Corporation Technologies (RCT). The funding will be used to support the promising commercialization of Halo Labs' Horizon® subvisible particle analysis instrument and the continued development of the company's product pipeline.
The Horizon instrument performs high-throughput subvisible particle analysis using volumes as low as 25 µL. "This system allows biologics researchers to measure protein aggregates and other particles in hundreds of formulation candidates early in development when only small amounts of sample are available. It completes this analysis in a fraction of the time of its competitors, helping researchers get to the most stable formulation conditions as quickly possible," said Chad Souvignier, Vice President of RCT. "Market adoption of the Horizon instrument is impressive, including purchases by many marquee biopharma companies. The company has a unique ability to understand and develop products to meet the needs of biologics researchers. We are excited about Halo Labs' pipeline and the market potential of the Horizon instrument." Additional backers included BroadOak Capital Partners, BioAdvance, the BenFranklin Technology Partners of South Eastern Pennsylvania, top level industry executive Paul McEwan, and other current employees.
"These funds will let us continue building momentum for the Horizon platform and keep pace with product demand as we hire and move forward into next-generation product development," said Robert Wicke, CEO of Halo Labs.
Halo Labs also announced that Dr. Joseph Keegan has been named Executive Chairman of the Board of Directors. Dr. Keegan brings over 30 years of executive experience in the life sciences industry to the company. As a former CEO of FortéBio and Molecular Devices, he generated over $2 billion in exit value and has an extensive track record in commercializing biopharmaceutical instrumentation. Dr. Keegan sits on several boards including Bio-Techne, Interpace Diagnostics and Labcyte. "As one of the earliest backers and board members of Halo Labs, I have been thrilled to see this talented team grow into the very strong organization they are today. I'm really looking forward to being more directly involved with the team and supporting future commercialization efforts." Dr. Keegan replaces Dr. David Erickson in the executive chairman role.
About Halo Labs
Halo Labs commercializes biopharmaceutical analysis instrumentation. The company was named Philadelphia Life Science Startup of 2012. Halo Labs is venture-backed by Research Corporation Technologies, BroadOak Capital Partners, BioAdvance, and the Ben Franklin Technology Partners. Halo Labs' flagship product, the Horizon®, enables for the first time high-throughput, low-volume subvisible particle analysis and is funded by prestigious small business grants from NIST and the FDA. For more information, please visit www.halolabs.com
Research Corporation Technologies (RCT) in Tucson, Ariz., is a technology investment and management company that provides early-stage funding and development for promising biomedical companies and technologies. RCT focuses on investing in technology that originated in universities and research institutions worldwide. http://www.rctech.com
SOURCE Halo Labs