Boston Financial & Equity announced it closed a $500,000 equipment lease for a biotechnology company in Boston. The equipment lease is for a fermentation system.

The company was founded by a group of Harvard and MIT Ph.D. students in 2008. To date the company has raised $5 million from local “smart” angels, and has received more than $500,000 in grant revenue. The company has met with more than 100 companies in several industries that have expressed interest in the company’s approach for “synthetic biology” products. The company has been outsourcing many of its processes and is now bringing them in-house.