Press Release - 6/23/2020
“Red Bear Angel” Funding
$77k Investment for Rollout of HaloFilm™
JUNE 23, 2020
(Ithaca, NY) — Halomine™, a start-up company developing a suite of novel, long-acting, anti-microbial products, today announced that it has received a $77,000 investment from “Red Bear Angels” (“RBA”) to assist the company in preparation for the launch of its first commercial product, HaloFilm™. The investment is an important sign of investor confidence in Halomine’s commercial potential.
“The current COVID-19 pandemic has highlighted for all of us the importance of effective and long-acting disinfecting solutions,” said Maggie Reagan, Director of RBA Community. “We are pleased to support Halomine as it develops this exciting new technology, discovered at Cornell University labs, that has the potential to greatly improve the current standard for anti-microbial coatings. We also look forward to Halomine exploring other application for its novel technology.”
While commonly used chlorine-based disinfectants are highly effective in killing bacteria and viruses on surfaces, they evaporate quickly, leaving surfaces susceptible to nearly immediate recontamination. HaloFilm™ is a revolutionary new “chlorine-extender” that binds with and holds chlorine from a companion disinfectant in place. After applying HaloFilm™ to a surface, simply spray any chlorinated cleaning product to the treated surface and germ-killing protection will last for days or weeks, depending on the activity level of the surface. When germs touch the treated surface, HaloFilm™ releases enough chlorine to kill the germs on the surface, but it continues to hold the rest of the chlorine in place.
“Halomine greatly appreciates the confidence that Red Bear Angels have shown in our innovative technology and long-term business model. The data from our research are clear: HaloFilm™ binds with chlorine molecules to hold chlorine in place on treated surfaces to provide around-the-clock antimicrobial protection in a safe and effective manner that does not damage surfaces or irritate skin. Our technology represents another tool in the way the world protects itself from pathogens. This investment by Red Bear Angels provides great momentum as we prepare to launch HaloFilm™,” said Halomine CEO Ted Eveleth.
Halomine™ is a Cornell University-based company, with technology licensed from Cornell and Auburn University.
Its breakthrough product, HaloFilm™, is seeking to set the new “gold standard” for household and institutional cleaning and disease prevention. Halomine has developed a multi-patented process that creates an antimicrobial surface that can kill germs and pathogens for weeks. This patented process has multiple potential applications, ranging from simple household cleaning to groundbreaking wound dressings that kill germs without sticking to the wound site.
RBA was founded by a group of Cornell Board of Trustee Emeriti and alumni venture capitalists who saw a need to reinforce the connections between great Cornell entrepreneurs and accredited investors who want to advise/invest in them. RBA was first introduced to Halomine in 2019 by the group’s contacts at Cornell Technology Licensing. Halomine later went on to win a pitch contest at the Cornell Entrepreneurship Summit NYC where RBA’s Chairman, Sam Sezak, was a judge. RBA members that participated in the deal have various backgrounds and include a healthcare facility executive and a seasoned biotech and pharmaceutical professional.
Red Bear Angels is an investment group run by Cornell alumni and is independent of any endorsement by or affiliation with Cornell University.
Halomine Inc. was founded by Dr. Mingyu Qiao among others. Dr. Qiao, who serves as Halomine’s CTO, is a former postdoctoral associate whose research in the Department of Biological and Environmental Engineering at the Cornell College of Agriculture and Life Sciences, focused on the synthetic compound known as N-halamine and its real-world applications. Ted Eveleth recently joined as Halomine Inc.’s CEO. Mr. Eveleth, who has guided a number of start-ups through early development, received his MBA from the Cornell SC Johnson College of Business in 1990.
Halomine Inc. previously received funding from The Cornell Technology Acceleration Maturation Fund (CTAM). CTAM is a resource available to the Cornell research community and is managed by the Center for Technology Licensing at Cornell University. The objective of the CTAM Fund is to provide critical funding to advance promising technologies towards key inflection points for commercialization and venture creation.
About Red Bear Angels
Founded by a group of Cornell Board of Trustee Emeriti and alumni venture capitalists, RBA is dedicated to creating a platform for Cornell entrepreneurs to access individual accredited investors who can be most helpful to them and their businesses. The group believes in the emergence of Cornell as an entrepreneurial powerhouse and seeks to assist in the growth of the Cornell entrepreneurial ecosystem.
The RBA team streamlines the process for accredited investors to invest in startups tied to Cornell University and its alumni base. As one of the fastest-growing angel groups, RBA has invested ~9 Million across 26 companies to-date, 50%+ which have increased in value since the firm’s launch.
Members receive access to Red Bear’s differentiated deal flow pipeline and admission to a packed programming schedule of high-profile, intimate social events, primarily in NYC. The membership costs $1,000 annually, and there is no minimum investment requirement.
FOR MORE INFORMATION CONTACT
Greg Howard of Cogent Strategic Communications
Have a question, comment, or inquiry for the Halomine team? We would love to answer them. Simply fill out the form below and a Halomine representative will be in touch shortly.