Anges Québec, a firm which undertakes early stage technology deals on behalf of a large network of angel investors located in Québec, has contributed to a C$1.7 million investment in Handyem Inc. Anges Québec Capital Fund, a private-public partnership formed in 2012, and other investors also participated in the financing. Québec City-based Handyem designs and manufactures vitro diagnosis instruments for life science researchers.
Anges Québec and the Anges Québec Capital Fund Invest $1M in Handyem and its Portable Cytometer
(Quebec City, January 15th, 2013) – Anges Québec is pleased to announce $1M in financing granted to Handyem, a Quebec company specializing in life sciences. The financing comes from 19 Anges Québec members and the Anges Québec Capital Fund. Of this amount, $680K is from Anges Québec members, including Stéphane Pilette, and $320K from the fund. An additional amount in excess of $700K comes from existing shareholders and new private investors, bringing the current round of financing to $1.7M.
Handyem has developed a portable flow cytometer for life science researchers using a technological platform transferred from the Institut national d’optique (INO) in Quebec City. This compact biological sample analysis instrument, which combines the principles of cytometry with fibre optic-based microfluidic technology, offers the same performance as classical cytometers used in centralized laboratories. However, its compact size and much lower cost make it more accessible. Four times smaller than the most compact models on the market, this portable mini-cytometer gives researchers more freedom by giving them direct access, anytime, anywhere, and without having to wait, thus improving research results.
The Anges Québec and Anges Québec Capital Fund financing will allow handyem to accelerate marketing of its portable flow cytometer on the North American market, while continuing to implement an international distribution network. Alain Chandonnet, President and CEO of handyem, said: “We are very happy to count on the support of Anges Québec and the Anges Québec Capital Fund. These investors who believe in our project are highly experienced entrepreneurs who get directly involved to take our company to the next level, and that’s what we appreciate the most. Beyond the financial aspect, their expertise is a valuable contribution to the handyem team.”
Stéphane Pilette, the angel investor who led the project at Anges Québec, explains his motivation for investing in handyem: “I believe personalized medicine and a faster medical diagnosis at the point of service are the future of health care. Handyem offers an innovative solution that meets this goal. And this young business has an experienced executive at the helm, backed by a solid team. They have an intelligent business plan to take their place in a growing market, and a product that’s beneficial for individuals and society. All of these things convinced me!”
Robert Talbot, Vice-President of Investment of the Anges Québec Capital Fund, added: “The fund’s participation is financial leverage and encouragement for the experienced team of angel investors who decided to concretely back this new start-up business. This completes a critical round of financing for the future of this young company.”
About Anges Quebec
Anges Québec is a network of 115 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising startup companies. In this capacity, Anges Québec works closely with Quebec business leaders in the development and growth of technological innovations.
About Stéphane Pilette
Stéphane Pilette has made a career in R&D and product development with several companies. In 2007, this biomedical engineer co-founded Vimedix with three partners. In 2010, this company specializing in medical simulation solutions for ultrasound imaging was sold to CAE Santé. Stéphane Pilette is currently vice-president of the Estrie section of AMBAQ (Quebec MBA Association); he completed an MBA while heading the Health and Wellbeing sector of Anges Québec.
About Anges Québec Capital
Created in 2012, the Anges Québec Capital Fund totals $30M, of which $20M in funding comes from the government of Quebec, through Investissement Québec, and $10M from the angels. The fund is dedicated to innovative Quebec businesses in the startup phase, giving them a more substantial financial foundation by adding to the investments made by Anges Québec members.
Handyem designs and manufactures in vitro diagnosis instruments for life science researchers by combining the principles of flow cytometry with a revolutionary fibre optic microfluidic technology. Its compact, affordable and simple devices aim to democratize cytometry, a powerful analytical technique, but one operated by experts and previously confined to specialized central laboratories for decades. The handyem vision is to simplify and generalize use of its compact cytometers by non-experts in decentralized clinical diagnosis and screening, in conjunction with the advent of personalized medicine.
For more information, go to www.handyem.com.
For more information about the Anges Québec network, go to www.angesquebec.com
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