Ben Franklin Technology Partners invests $2 million in regional companies
Summary
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. 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. 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.
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