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.
Read the full article here.