State-backed seed fund Ben Franklin Technology Partners hopes to spur the creation of more than 100 jobs in the region’s life sciences field after receiving a $633,555 grant from the U.S. Department of Commerce’s Economic Development Administration.
Combined with a matching $646,712 from BFTP and other organizations in the region, the award will allow BFTP to create the Philadelphia Region Integrated Medicine Alliance, or PRIMA, a virtual commercialization network designed to connect life sciences companies with regional resources that can manufacture prototypes, prepare for scaling production and provide other crucial services such as market research.
“If we can provide resources to young companies that have phenomenal concepts and potential to grow, we can grow companies here faster,” said Anthony Green, Ph.D., vice president of technology commercialization at BFTP, which is also tasked with spurring economic development. “We can develop more companies that can be creating more jobs.”\
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