NMBSA News:

The New Mexico Bioscience Authority (NMBSA) and New Mexico Angels announce they have partnered in a co-investment in a New Mexico bioscience startup company, BennuBio, Inc.

The NMBSA and the NM Angels’ New Mexico Vintage Fund (NMVF) created an LLC partnership for this co-investment. This marks the NMBSA’s first co-investment and a practice that the NMBSA hopes to continue with the goal of growing the economy in New Mexico.

The NMBSA will be seeking funding for a bioscience development fund, which will co-invest into New Mexico based biosciences companies, from the legislature during the 2023 legislative session.

BennuBio, Inc. is a New Mexico company who has vastly advanced flow cytometry technology, which provides the most powerful tool for analysis of cellular populations. BennuBio Inc. has greatly expanded the power of flow cytometry by developing instruments that can use the flow cytometry paradigm to analyze samples regardless of particle size or sample volume.

“We are thrilled about this partnership and this investment,” said Dale Dekker, chair of the New Mexico Bioscience Authority. “It represents a new economic development approach of assisting start-up and early-stage bioscience companies with needed funding to accomplish our goal of creating jobs and diversifying the economy in New Mexico.”

The mission of the NMBSA is to increase awareness and support for New Mexico’s bioscience sector by attracting capital investors, influencing policy, and assisting in infrastructure and business development.  The NMBSA connects all necessary elements of: Research & Development, Technology Transfer, Investment and Funding and Workforce.

“We are proud to be a part of this amazing opportunity to showcase how a public-private partnership can benefit entrepreneurs, start-up and early-stage bioscience businesses here in New Mexico,” said Drew Tulchin, president of the New Mexico Angels. “We look forward to a continued partnership with the New Mexico Bioscience Authority to grow jobs and the economy here in our state.”

The New Mexico Angels’ mission is to provide opportunities where its members can obtain outstanding financial returns by investing in early-stage companies in New Mexico and accelerating them to market leadership. The New Mexico Angels created the New Mexico Vintage Fund (NMVF), which invests in early-stage and high growth local companies.