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BioNanomatrix Receives $240K NCI Grant, Fresh VC Cash

May 17, 2006

NEW YORK, May 17 (GenomeWeb) - BioNanomatrix today said that it has been awarded a grant from the National Cancer Institute as well as new seed financing from two venture investors, 21 Ventures and Ben Franklin Technology Partners of Southeastern Pennsylvania.

 

BioNanomatrix CEO Michael Boyce-Jacino told GenomeWeb News that the NCI grant is a two-year, $240,000 SBIR Phase I grant for development of a cancer diagnostic prototype.  

 

Boyce-Jacino added that 21 Ventures will provide bridge financing to help support the company until its expected Series A financing closes later this year, while Ben Franklin Technology Partners of Southeastern Pennsylvania has made a seed investment in the company.

 

He declined to provide more information on how much 21 Ventures and Ben Franklin Partners have invested in BioNanomatrix.

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