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Hurel® Corporation Completes Investment from Johnston Associates

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Hurel Corporation has announced that Johnston Associates, Inc. of Princeton, New Jersey (“JAI”) has become a participating investor in the Company’s Series A-3 Preferred Stock financing. Hurel’s lead private equity investor, Spring Mountain Capital, LP, of New York, led the A-3 round.

“Johnston Associates is pleased to invest in Hurel, which is about to emerge as the leader in cell-based liver models,” Robert F. Johnston, JAI’s Managing Partner, said. “Hurel’s products have the capacity to improve and ultimately transform how preclinical drug discovery and general chemical testing are carried out. I’m looking forward to working with Hurel’s talented management team as they extend the commercial reach of their products and their company.”

Hurel CEO Robert Freedman commented, “As a founder of multiple, major biotech companies, Bob Johnston brings Hurel an immense resource of knowledge upon which we will be able to draw. It’s an honor and a pleasure to welcome Bob to Hurel’s investor family.”