Hamilton Thorne Raises $2.2M

Wade Roush11/10/09

Beverly, MA-based Hamilton Thorne, which makes laser equipment used in stem-cell research labs and fertility clinics, has raised $2.2 million in a private stock placement and debt conversion deal, according to an announcement released last week. A the same time, the company, which recently completed a merger with Ottawa, Ontario-based Calotto Capital, will soon be listed on the TSX Venture Exchange, a Canadian stock exchanged headquartered in Calgary, Alberta. Meg Spencer, Hamilton Thorne’s CEO, said in a press release that joining the TSX will give the company—which had previously raised about $13 million in venture backing from Brook Venture Partners and StarLake Capital—access to “a larger pool of capital to further advance our commercialization strategy.”

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.