Members of Anges Québec and the Anges Québec Capital fund invest over $1.8 M in the 2nd round of financing of handyem
(Quebec, December 4th, 2014) – For a second time since its launch in 2011, handyem receives a major investment by members of Anges Québec and the Anges Québec Capital fund to support the marketing of its portable flow cytometer. Led by angel Jean-François Grenon, 23 members of the network invested $1,345,000 in this Quebec City life science company. The Anges Québec Capital fund injected $500,000, and a few private investors also contributed for over $150,000. With a $750,000 investment, Desjardins Venture Capital Inc. completed this $2,750,000 round of financing.
Handyem has developed the HPC-100, a portable flow cytometer for the analytical measurement of biological samples. Easy to use, and as accurate as current cytometers used in centralized laboratories, the HPC-100 offers life science researchers great autonomy. Its small size, lightweight, lower cost and robust design, which is not affected by vibrations, make it the ideal tool to analyze samples outside the usual settings of cytometry. According to angel investor Jean-François Grenon, there is no doubt that the technology developed by handyem has the potential to be a game-changer in terms of cytometry: “With a transportable, user-friendly tool that gives users direct and immediate access to analysis results, the handyem cytometer revolutionizes the way things are done and opens the field of possibilities for researchers, while improving research performance.”
Alain Chandonnet, President and CEO of handyem, said: “We are pleased to count on the support and trust of angel investors and the Anges Québec Capital fund to enter the second phase of our roll-out. Thanks to this second round of financing, we can continue to improve our line of innovative products and our efforts to expand and consolidate the distribution network that we have already started to implement. This will allow us to increase the geographical coverage of the commercial roll-out of the HPC-100 portable flow cytometer. “
“This investment file recommended by the members of Anges Québec satisfied all our selection criteria hands down,” said Robert Talbot, Vice-President of Investment of the Anges Québec Capital Fund, “by adding financing that reinforces the financing from angel members of the network, we hope to give this young Quebec life sciences company an even greater momentum.”
About Jean-François Grenon
Jean-François Grenon has over 33 years of experience in the technology sector in the United States, Europe and Canada. He has designed and launched various innovative technical products and services on the global market, created several SMEs and has executed numerous mergers and acquisitions. As the head of Innova Corporation, he took the company public (NASDAQ) in 1997 and merged it with Digital Microwave Corporation in 1998, creating the world’s no 1 supplier of radio links to cellular networks. Jean-François has a degree in electrical engineering from the École Polytechnique and has an MBA from the Harvard Business School.
About Anges Québec
Anges Québec is a network of 160 private investors that finds, finances and coaches innovative Quebec companies with high growth potential. In this capacity, Anges Québec works with a number of key Québec organizations interested in the development and growth of technological innovations. So far, Anges Québec members have invested and reinvested in 57 promising businesses at the seed and startup phases.
About the Anges Québec Capital Fund
Anges Québec Capital is an investment fund set up to invest alongside the members of Anges Québec. Sponsored primarily by Investissement Québec, the fund supports the angels who invest in innovative Quebec businesses in the seed or startup phase. The joint efforts by the angels and Investissement Québec result in over $30M made available to entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably growth their business.
handyem designs and fabricates an analytical instrument platform dedicated to life science researchers by combining the fundamental principles of cytometry to a revolutionary optical fiber microfluidic technology. With compact, affordable and easy-to-use instruments, handyem is a young company gathering passionate multidisciplinary specialists to democratize cytometry. Our vision is to simplify and generalize the use of cytometry, a powerful yet centralized analytical tool, with the ultimate goal of providing non-experts with cell-based and bead-based assays capabilities. And what drives handyem forward is the prospect of efficient yet simple decentralized screening and diagnostics in line with the advent of personalized medicine.
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