SANTA BARBARA, Calif., May 16, 2013 /PRNewswire-iReach/ -- Active Life Scientific, Inc., a life science research and diagnostic tools company, today announced a $500K Follow On Series A round of financing. The round was filled by new and existing investors, including follow on investment by members of Tech Coast Angels, the largest angel investment group in the country.
Active Life is developing next generation medical tools to cost effectively address the growing problem of degenerating and stiffening tissues - a leading cause of frailty. The company's technology, Reference Point Indentation (RPI), is the latest breakthrough from world-renowned inventor Dr. Paul Hansma. Active Life's products are currently being sold to scientists and are under development for physicians to directly measure tissue physical properties inside a living body. Previous to RPI, similar tests required an invasive biopsy and destructive testing in an advanced laboratory, and as a result were rarely performed.
"Tech Coast Angels are confident in our reinvestment into Active Life and the vast potential of the Company," stated Mike Panesis, Vice Chair of the Tech Coast Angels (TCA) and President of TCA's Central Coast Network. "The platform nature of their technology is extremely interesting. The technology fills important needs in numerous markets including life science, medicine, animal science, consumer products, and more."
"Modern medicine is successfully extending the duration of life to new levels. At Active Life, we are focused on extending and improving quality of life," stated Davis Brimer, Active Life's Chief Executive Officer. "We are honored to pursue this goal with the support of top-notch, sophisticated investors."
About Active Life
Active Life Scientific, Inc. develops life science research and diagnostic tools with previously impossible ability to quantify physical properties of tissues without the need for an invasive biopsy. Frailty and diseases linked to degenerating or stiffening tissues, or tissue physical properties, are currently assessed using surrogate endpoints. Active Life's Reference Point Indentation introduces an unrivaled direct, in vivo measure of tissue physical properties. The Company's products are based on world renowned inventor Dr. Paul Hansma's latest breakthrough, Reference Point Indentation.
About Tech Coast Angels
Tech Coast Angels is an angel investor network in the United States and one of the leading sources of funding to early-stage companies in Southern California. Since its inception in 1997, TCA members have focused on building valuable companies, personally invested nearly $119 million and helped portfolio companies attract more than $1.4 billion in additional capital, mostly from venture capital firms. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 250 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara, and the Inland Empire.
Media Contact: Davis Brimer, Active Life Scientific, Inc., +1.805.770.2600 x101, firstname.lastname@example.org
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SOURCE Active Life Scientific, Inc.