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BennuBio Expands Albuquerque, New Mexico, Operations

09/06/2018
BennuBio, Inc. will receive a Catalyst Fund investment of $1.5 million from Tramway Venture Partners, Cottonwood Technology Fund and Sun Mountain Capital to assist the firm in developing high throughput flow cytometers in Albuquerque, New Mexico.

"This investment is a critical step of growth for BennuBio as it will enable us to develop our robust flow cytometry instrumentation platform for market entry in 2019," said Steven W. Graves, CEO & President of BennuBio, Inc. "It also brings leaders with proven experience in developing New Mexico technology companies to our Board of Directors in the form of Waneta Tuttle, David Blivin, and Sally Corning."

BennuBio is the third New Mexico startup to receive Catalyst Fund investment, which leverages private investment for early stage startups, anchoring them in New Mexico, according to Governor Susana Martinez’s office.

"Once again, I'm proud to say that we're helping a local, high-tech company expand, right here in New Mexico," said Governor Susana Martinez. "Since 2011 we've created new tools to help our homegrown, high-tech companies thrive and now we're seeing incredible results. With tools like these in place we will continue to see our homegrown companies continue to thrive for years to come."

"BennuBio is a unique, homegrown company with lots of potential for growth," said Economic Development Secretary Matt Geisel. "With investment from the Catalyst Fund, we are able to provide access to capital and help anchor companies like BennuBio.”

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