Tech company has a buyer

Quad Technologies, a competitor in the 2013 Rice Business Plan Competition, has been acquired by Bio-Techne.

Quad’s Quickgel technology is used to harvest and multiply specific types of white blood cells from whole blood. Being more effective and less expensive, the product will enhance blood processing for cancer immunotherapy, according to the investment fund backing the company. Its acquisition by Bio-Techne, a Nasdaq-traded company with technology for scientists and clinicians, will help to more quickly deploy Quad’s Quickgel technology, the investment fund said.

Northeastern University students pitched Quad during the Rice competition five years ago. They caught the attention of Texas Halo Fund I, an early stage investment fund sponsored by the Houston Angel Network, a group of wealthy investors. The fund invested $339,000 in Quad over four funding rounds.