Overview

Raised to Date: Raised: $26,500

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Total Commitments ($USD)

Platform

SeedInvest

Start Date

02/27/2022

Close Date

07/13/2022

Min. Goal

$25,000

Max. Goal

$1,070,000

Min. Investment

$1,000

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF / RegD 506(c)    

Valuation Cap

$15,000,000

Discount

20%

Venture Capital Investors:

Village Global

The Venture Collective

Ben Franklin Technology Partners

Monozukuri Ventures

Backstage Capital

Todd Jackson (First Round Capital)

Peter Moran (DCM)

Rolling Commitments ($USD)

Status

Not Funded

Reporting Date

07/19/2022

Days Remaining

Not Funded

% of Min. Goal

Not Funded

% of Max. Goal

Not Funded

Likelihood of Max

Not Funded

Avg. Daily Raise

$196

Momentum

Not Funded

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Hale Therapeutics

Year Founded

2018

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2C

Margin

Medium

Capital Intensity

Low

Location

Philadelphia, Pennsylvania

Business Type

High Growth

Company Website

Hale Therapeutics, with a valuation of $15 million, is raising funds on SeedInvest. The company has developed its proprietary medical vaporizer and mobile app that helps smokers quit nicotine more easily. The dual-capsule solution of Hale Therapeutics is disrupting current nicotine replacement therapies and is designed to wean people off of nicotine with minimum withdrawal symptoms gradually. Josh Israel founded Hale Therapeutics in July 2018. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for preclinical testing, clinical trials, and GMP manufacturing setup.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$0	$0
COGS	$0	$0
Tax	$0	$0
Net Income	$-641,293	$-430,338

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$757,219	$721,754
Accounts Receivable	$49,551	$68,982
Total Assets	$852,260	$796,426
Short-Term Debt	$1,962,128	$1,265,078
Long-Term Debt	$0	$0
Total Liabilities	$1,962,128	$1,265,078

Financials as of: 02/27/2022

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Hale Therapeutics Founder Josh Israel Is Determined to Help Smokers Quit

Once upon a time, cigarette companies marketed their products with the promises of healing properties and the trustworthy faces of dentists, babies, and Santa Claus. Today the health consequences of smoking tobacco are well known, and most smokers want to quit. But despite modern advancements in medicine and technology, quitting success rates remain dismally low.

Hale Therapeutics is on a mission to help smokers quit with a new method: smoking. The company has created a patented dual-capsule vaporizer that will gradually ease smokers off of nicotine with steps that may be familiar to them. We reached out to co-founder and CEO Josh Israel to learn about the origin of Hale Therapeutics and where the company might go from here.

Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.

Read Founder Interview