WARNING: This is a development version of myUMBC. All content should be considered for testing purposes only and could be changed or deleted at any time.
InstantLabs Secures Controlling Investment From Angeon Group
bwtech@UMBC Research and Technology Park
February 27, 2017 at 12:12 PM
INSTANTLABS SECURES CONTROLLING INVESTMENT FROM ANGEON GROUP
BALTIMORE, MD, February 24th, 2017 – InstantLabs Medical Diagnostics Corporation, Inc. (InstantLabs) announced today that it has entered into an agreement for a controlling investment from Angeon Group, LLC (Angeon), an independent, private investment company focused on supporting growth-oriented businesses across a wide range of industries. In connection with the investment, the company will change its name to InstantLabs, Inc., and Joseph E. Gargan, CEO of Angeon, will serve as CEO of InstantLabs and join its Board of Directors. Additionally, Dr. Neil Sharma, InstantLabs' Director of R&D, has been promoted to President.
"Our partnership with Angeon will help accelerate InstantLabs' transformation into a leading diagnostic testing company and advance our mission to provide producers, wholesalers, governments, and industrial partners with the technology to help safeguard businesses and consumers from potential food fraud, harmful pathogens and a variety of environmental hazards," said Neil Sharma, President of InstantLabs.
“We are excited to be partnering with InstantLabs,” said Angeon CEO, Joseph Gargan. “Since its founding in 2008, InstantLabs has developed the only portable, real-time, DNA-based diagnostic system, allowing InstantLabs’ Hunter® system and reagent kits to become an integral part in a variety of testing programs. As it continues to expand its DNA-based test kits for multiple industries, InstantLabs is poised to become a leader in the growing global testing market.”
InstantLabs is a developer and manufacturer of cutting-edge molecular diagnostic testing solutions. The company's breakthrough Hunter® Real-Time PCR device and growing portfolio of test kits offer a fully integrated, easy-to-use, mobile, and affordable solution for rapid on-site DNA-based diagnostics serving multiple industries including food safety, food fraud, and microbiologically influenced corrosion (MIC).
Angeon is an independent, private investment company focused on supporting growth-oriented businesses across a wide range of industries. Angeon provides a unique combination of active strategic partnership and long-term capital to high-potential companies and their management teams.
