Date: Jul 31, 2013 Source: bizjournals (
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Ben Franklin Technology Partners of Southeastern Pennsylvania said Wednesday it has gotten approval from its board of directors to provide $1.89 million in funding to 10 early-stage companies.
The biggest investment, $500,000, is slated for Dynamis Skin Science Inc., a Jenkintown, Pa., company that develops and markets topical skin health and anti-aging products that use a meglumine-based substance it calls Supplamine.
The next largest investment, $250,000, was approved for ZSX Medical LLC, the King of Prussia, Pa., maker of biodegradable clips used for internal closure in minimally invasive surgeries. Ben Franklin previously committed $50,000 from its Technology Commercialization Fund to ZSX for an early test of the company's ZipStitch technology.
Three companies were approved for $200,000 investments. Luxtech LLC, which makes light-emitting-diode modules for lighting fixture manufacturers, and QLIDA Diagnostics, which is developing a portable device for detecting proteins associated with cancer and cardiovascular disease, are based in Philadelphia. AboutOne, which provides an online household-organization system, is based in Paoli, Pa. Ben Franklin previously commited $100,000 to it.
Powerlytics was approved for a $150,000 investment. The Philadelphia company uses federal data to offer financial benchmarking services, market-sizing information and business-research products. Ben Franklin previously committed $150,000 to it.
QR Pharma Inc. of Berwyn, Pa., was approved for a $140,000 investment. It's a specialized pharmaceutical company that is developing treatments for Alzheimer's, Parkinson's and other neurodegenerative disorders. Ben Franklin previously committed $610,000 to it.
MVP Interactive LLC was approved for a $125,000 investment. The Philadelphia company has developed interactive experiences for venues, such as a gaming wall that allows sports fans to compete in virtual home-run derbies and soccer shoot-outs and post their scores on social networks.
Orion Fleet Intelligence, which previously received $100,000 from Ben Franklin, was approved for a $75,000 investment. The Conshocken, Pa., company uses GPS technology and telematics to provide business-intelligence services to companies with fleet operations and their insurance carriers and brokers.
Finally, RMH Sciences LLC of Doylestown, Pa., was approved for a $50,000 investment from Ben Franklin's Technology Commercialization Fund. The company aims to commercialize antibiotics discovered by Dr. Harvey Rubin, the associate dean for student affairs in the University of Pennsylvania's Perelman School of Medicine, and will use the money to help move lab research into the beginning stages of drug development. Last year, it received an investment from BioAdvance.
