Halo Labs Secures $5.6M Series B Funding to Accelerate Commercialization of Horizon® Subvisible Particle Analyzer

On December 28, 2018, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Halo Labs, a life sciences instrumentation company based in San Francisco, had secured $5.6 million in Series B financing.

This round of financing was led by Research Corporation Technologies (RCT). The funds will be used to support the commercialization of Halo Labs’ promising HorizonA® subvisible particle analyzer and to continue expanding the company’s product portfolio.

Previously, the company completed a total of six funding rounds, raising an aggregate amount of $875,000. Notably, its $50,000 seed round on January 30, 2014, was provided by Ben Franklin Technology Partners of Southeastern Pennsylvania.

Halo Labs’ instrument performs high-throughput quantum visible particle analysis using volumes as low as 25 μL. “This system enables biopharmaceutical researchers to measure protein aggregates and other particles in hundreds of formulation candidates during early-stage development, when only small sample quantities are available. It completes this analysis in a fraction of the time required by competing products, helping researchers maximize efficiency and stabilize formulation conditions as rapidly as possible,” said Chad Souvignier, Vice President at RCT.

“Horizon’s market share is impressive, with procurement by many large biopharmaceutical companies. The company has a unique ability to understand and develop products that meet the needs of biological researchers. We are excited about Halo Labs’ product line and the market potential of Horizon instruments.” Other supporters include BroadOak Capital Partners, BioAdvance, Ben Franklin Technology Partners of Southeastern Pennsylvania, top industry executive Paul McEwan, and other existing employees, they stated.

Halo Labs CEO Robert Wicke stated, “This funding will allow us to continue building momentum for the Horizon platform and keep pace with product demand as we recruit talent and advance the development of next-generation products.”

Halo Labs also announced the appointment of Dr. Joseph Keegan as Executive Chairman of the Board. Dr. Keegan brings more than 30 years of executive experience in the life sciences industry. As the former CEO of FortéBio and Molecular Devices, he facilitated over $2 billion in export revenue and has extensive experience in the commercialization of biopharmaceutical instruments. Dr. Keegan has served on multiple boards, including those of Bio-Techne, Interpace Diagnostics, and Labcyte.

“As one of Halo Labs’ earliest supporters and a member of its Board of Directors, I am delighted to see this talented team grow into the strong organization it is today. I truly look forward to engaging more directly with the team and supporting its future commercialization efforts,” said Dr. Keegan upon succeeding Dr. David Erickson as Executive Chairman.

Halo Labs commercializes biopharmaceutical analytical instruments. The company was named “2012 Philadelphia Life Sciences Startup of the Year.” Halo Labs is backed by venture capital firms including Research Corporation Technologies, BroadOak Capital Partners, BioAdvance, and Ben Franklin Technology Partners. Its flagship product, HorizonA®, enables high-throughput, low-volume subvisible particle analysis for the first time and has received small business grants from NIST and the FDA.

Research Corporation Technologies (RCT), based in Tucson, Arizona, is a technology investment and management firm that provides early-stage development funding for promising biomedical companies and technologies. RCT focuses on investing in technologies originating from universities and research institutions worldwide.