Navigation Links
Hurel Receives $9.2 Million Series A Funding From Spring Mountain Capital
Date:4/3/2013

NORTH BRUNSWICK, N.J., April 3, 2013 /PRNewswire/ -- Hurel Corporation ("Hurel"), a world-leading provider of advanced artificial tissue constructs and microfluidic cell-based assay platforms that improve the predictive reliability and over-all efficiency of pre-clinical drug development, today announced that Spring Mountain Capital has organized and closed a $9.2 million Series A private equity financing facility for the Company.  Funds from the financing will support the commercial launch of Hurel's current products, the continued research and development of its technologies and future products, and other general corporate purposes.   Spring Mountain , operating through its SMC Select Co-Investment Fund I, L.P., is the lead investor; Spring Mountain also organized co-investment participations by several other private investor entities.

"This investment reflects our belief in Hurel's management, its scientific leadership, and its product strength," said Spring Mountain 's Managing Partner Avi Faliks, Ph.D.   "Hurel has assembled a talented business team and a core group of scientists who are leaders in the fields of artificial tissue constructs and microfluidics.  Together, they have created products that are technologically sophisticated yet, in their simplicity, geared for industrial use.  Spring Mountain 's focus is finding companies with game-changing business propositions, which often do not fit neatly into established product, market, or investment categories.   We think that Hurel, with its potential to reduce clinical trial failures, speed time-to-market, and dramatically reduce the cost of new medicines, is such a company."

Hurel CEO Robert Freedman said, " Spring Mountain 's investment provides the capital to enable us to fully execute our business plans and make a direct impact in the marketplace.  Hurel's suite of artificial tissue and microfluidic products, which are based on cultures of actual, living cells, are aimed at transforming the way pre-clinical drug discovery is conducted, reducing drug-makers' and regulators' reliance on problematic animal tests, and improving the success rate of drug candidates that advance to clinical trials.  We are gratified to have such an insightful, experienced, and supportive capital partner as Spring Mountain behind us." 

About Hurel

Hurel Corporation, based in North Brunswick, NJ and Beverly Hills, CA, is a world-leading provider of advanced artificial tissue constructs and microfluidic cell-based assay platforms that are used by major pharmaceutical research organizations  in pre-clinical drug development, as well as in the toxicological testing of industrial materials and consumer products. 

About Spring Mountain Capital

Founded in 2001 and located in New York, New York, Spring Mountain Capital, LP is a private investment management firm that focuses on alternative asset investing and offers investors a wide range of strategies designed to produce attractive risk adjusted returns. SMC has a dynamic and opportunistic mindset with a client oriented focus that drives it toward providing investors with intelligent and sophisticated investment opportunities. Based on its extensive network of personal and professional relationships, SMC is constantly searching for insightful investments from a wide range of sources. For further information, please go to www.springmountaincapital.com.

 


'/>"/>
SOURCE Hurel Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. PAREXEL Chief Operating Officer Dr. Mark A. Goldberg Receives Special Recognition Award
2. Leica Biosystems Receives FDA Approval for the Fully Automated Bond Oracle™ HER2 IHC System on the Leica BOND-MAX
3. Nephros Receives 510(k) Clearance for Hemodiafiltration System
4. ProUroCare Medical Receives FDA Clearance for ProUroScan Elasticity Imaging System
5. BONESUPPORT Receives Red Herring 2012 Top 100 Europe Award
6. Diabecline Antibiotic Receives Edison Award for Best New Pharmaceutical Product
7. Lexicon Receives Funding for Phase 2 Clinical Trial of LX4211 in Type 1 Diabetes
8. Alexza Receives Complete Response Letter for Adasuve™ NDA
9. Ventana Receives FDA Clearance for p53 (DO-7) Image Analysis and Digital Read Applications
10. Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
11. New Chronic Wound Treatment Device Receives Award from Veterans Healthcare Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 24, 2016  Arkis BioSciences, a leading innovator ... more durable cerebrospinal fluid treatments, today announced it ... funding is led by Innova Memphis, followed by ... private investors.  Arkis, new financing will accelerate the ... market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Dialysis Devices Global Market - Forecast to 2022" report ... is the treatment method for the patients with kidney failure, ... and excess fluid from the patient,s blood and thus the ... sodium, potassium and chloride in balance. Increasing ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, and ... in the eye of the beholder, according to experts who offered insights and commentary ... of Managed Care. For the full issue, click here . , For the ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the largest ... as the Medical Director of its new Mesquite-Samuell Farm facility. , “We are ... Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that ... chosen by their peers for this recognition are considered among the top 2 percent ... special honors as members of this year’s Legal Elite Hall of Fame: Miami ...
Breaking Medicine News(10 mins):