Halo Labs Completes $6M Series C Growth Financing

Rhea-AI Summary

Halo Labs, a company specializing in life science instrumentation, has successfully raised $6M in series C financing, led by Agilent Technologies. This funding will be utilized to enhance the commercialization of the Aura™ platform, expand manufacturing capacity, and develop new products targeting pharmaceutical researchers. CEO Rick Gordon expressed that this funding reflects the success of their aggressive growth strategy, noting that their instruments are now widely adopted by major biopharmaceutical firms. The Aura platform combines multiple assays into one instrument, expediting the development of new therapies.

Positive

• Raised $6M in series C financing, indicating strong investor confidence.
• Partnership with Agilent Technologies may enhance growth and innovation.
• Funding will facilitate continued commercialization of the Aura™ platform.
• Aura instruments are widely adopted by major biopharmaceutical companies, solidifying market position.

Negative

• None.

BURLINGAME, Calif., July 11, 2022 /PRNewswire/ -- Halo Labs, a leading life science instrumentation company announced it has raised $6M in series C financing. The round was led by Agilent Technologies Inc. and includes participation from existing investors Research Corporation Technologies, Broad Oak Capital Partners, BioAdvance, and members of the Board of Directors and senior management.

"We are excited to have Agilent as a partner in this journey as we scale our business in some exciting new directions."

This new funding will be used for continued commercialization of Halo Labs' Aura™ platform, increasing manufacturing capacity and developing innovative new products to meet the current and new needs of pharmaceutical researchers.

"For the past two years, Halo Labs has deployed an aggressive growth strategy and has raised the bar for innovation in our market," said Rick Gordon, CEO of Halo Labs. "The fact that we were able to close on a funding round in the current economic environment demonstrates the success of that strategy. Our instruments have been adopted by virtually every major biopharmaceutical company and are now one of the leading tools in cell and gene therapy. With this capital, we will continue our current trajectory and scale our business in some exciting new directions. We are excited to have Agilent as a partner in that journey."

First launched in 2017, Aura from Halo Labs has disrupted pharmaceutical product development by combining multiple stability, quality, and safety assays into one instrument. Now available in six different models, representing tools specific for different therapeutic modalities and development stages, Aura instruments give pharmaceutical scientists access to an unprecedented amount of data in a matter of minutes, allowing for new therapies to move from the lab to the clinic faster and more safely.

About Halo Labs

Halo Labs in Burlingame, CA is a venture-backed scientific instrumentation and consumable company that commercializes high throughput aggregate, visible and subvisible particle analysis for biopharmaceutical formulation, stability, and product quality control using state-of-the-art custom optics and image processing techniques. Researchers around the globe depend on Halo Labs for unprecedented insights into aggregates and subvisible particles present in their drug products via optical imaging on membranes. For more information, visit www.halolabs.com.

About Agilent

Agilent Technologies Inc. (NYSE: A) is a global leader in the life sciences, diagnostics, and applied chemical markets, delivering insight and innovation that advance the quality of life. Agilent's full range of solutions includes instruments, software, services, and expertise that provide trusted answers to our customers' most challenging questions. The company generated revenue of $6.32 billion in fiscal 2021 and employs 17,000 people worldwide. Agilent's Early-Stage Partnerships program (ESP) works with startup companies to provide them with support and industry partnerships while providing strategic long-term value to Agilent. Information about Agilent is available at www.agilent.com.

Contact 
Halo Labs
Steven Le
Director of Marketing 
info@halolabs.com

Aura is a trademark of Halo Labs in the United States. All rights reserved.

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SOURCE Halo Labs

FAQ

What is the significance of Halo Labs raising $6M in series C financing?

The $6M raised in series C financing indicates strong investor confidence and will support Halo Labs' growth and product development.

Which company led the series C financing for Halo Labs?

Agilent Technologies led the series C financing round for Halo Labs.

What will Halo Labs use the $6M funding for?

Halo Labs plans to use the funding for commercialization of the Aura™ platform, increasing manufacturing capacity, and developing innovative products.

How has the Aura™ platform impacted pharmaceutical research?

The Aura™ platform has disrupted pharmaceutical product development by combining multiple assays into one instrument, enabling quicker and safer development of new therapies.

When was the series C financing for Halo Labs completed?

The series C financing for Halo Labs was completed on July 11, 2022.