Uncategorized
Investing / Philadelphia

Ben Franklin Technology Partners invests $2 million in regional companies

Ben Franklin Technology Partners of Southeastern Pennsylvania announced yesterday plans to invest $2.05 million in 11 companies in and around Philadelphia. The regional partner of the statewide economic development network bought $750,000 worth of three Philadelphia companies and spent the rest on eight groups in the ‘burbs. In a struggling economy, that’s good news. Technology […]

Ben Franklin Technology Partners of Southeastern Pennsylvania announced yesterday plans to invest $2.05 million in 11 companies in and around Philadelphia.
The regional partner of the statewide economic development network bought $750,000 worth of three Philadelphia companies and spent the rest on eight groups in the ‘burbs.
In a struggling economy, that’s good news. Technology companies funded by BFTP boosted the gross state product by an estimated $9.3 billion from 2002 to 2006, according to a study released by the Pennsylvania Economy League last month.
The largest investment was $400,000 for BioNanomatrix, a University City developer of analytic and imaging platforms that aim to reduce the time and cost used to analyze DNA. BioNanomatrix has previously received $250,000 from BFTP.
The other two Philly BFTP investments were $250,000 in Niiki Pharma, which develops cancer treatment drugs and is based in the same University City building as BioNanomatrix, and $75,000 in Larger than Life Prints, a Center City company that sells large-scale, reusable wall decals from customer images. Niiki Pharma has previously scored a $500,000 BFTP investment.
Two suburban companies received $250,000 investments: West Chester-based digital audio networking manufacturer Aviom and Onconova Therapeutics, a Newtown developer of cancer treatment products that has scored another $250,000 investment in the past.
The 11 companies listed by size of the investment from BFTP:

  1. BioNanomatrix, University City — $400,000
  2. Niiki Pharma, University City – $250,000
  3. Aviom, West Chester – $250,000
  4. Onconova Therapeutics, Newtown – $250,000
  5. Versify Solutions, of Chadds Ford, which provides products and services for power traders and power generation managers – $200,000
  6. Healthy Humans, of Wayne, which helps people with chronic illnesses develop plans to improve their health – $150,000
  7. Syandus, of Exton, which develops medical simulations to help doctors better learn to diagnose and manage diseases – $150,000
  8. Apptastics, of Fort Washington, which consults companies on social media as a marketing tool – $125,000
  9. Spectrum Devices, of Hatfield, which makes silicon radio-frequency power transmitters – $120,000
  10. PayParade, of Fort Washington, which helps retailers use social media to drive Web traffic – $75,000
  11. Larger than Life, Center City – $75,000
Companies: Ben Franklin Technology Partners / BioNanomatrix / Larger Than Life Prints
Engagement

Join the conversation!

Find news, events, jobs and people who share your interests on Technical.ly's open community Slack

Trending

How venture capital is changing, and why it matters

Why the DOJ chose New Jersey for the Apple antitrust lawsuit

Philadelphia healthcare nonprofit wields AI to find new uses for old drugs

This Philly founder is making generational wealth building more accessible

Technically Media