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Halo Labs Raises $5.6M in Series B Financing Round Led by RCT


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 ?nancing 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
1/2/2019 Halo Labs Raises $5.6M in Series B Financing Round
https://www.prnewswire.com/news-releases/halo-labs-raises-5-6m-in-series-b-financing-round-300769254.html 2/2
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’
?agship product, the Horizon®, enables for the ?rst 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
About RCT
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
Robert Wicke
SOURCE Halo Labs
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