Boston Financial & Equity closed a $350,000 lease line with a company that is developing a bench top system to address the acute need in biologic product development and manufacturing.

The system will provide real-time, rapid and direct characterizations of proteins.

The California-based company was founded in 2015. Still in a design & research phase, it has no revenue and is backed by angel investors.

The company currently has eight months of cash, and is in talks with a large drug company to implement a beta system. It’s first drawdown was for a much needed mass spec system.