Copyright © 2020 Albuquerque Journal
BennuBio Inc. has won $5 million in private equity from local and international investors to accelerate marketing of super-fast cell-screening and analysis technology developed originally at the University of New Mexico.
Co-Win Ventures, which focuses on early-stage investments in technology and health care companies in the U.S. and China, led the round as a new investor in BennuBio. Local investors Cottonwood Technology Fund, Tramway Venture Partners and Sun Mountain Capital all contributed to the new funding. Those firms had previously pumped $2 million into the company, which operates out of the WESST Enterprise Center Downtown.
Co-Win’s participation could substantially boost BennuBio’s marketing success, since that firm has extensive experience in the cytometer, or cell meter, industry, said BennuBio President and CEO Steven Graves, a UNM chemical and engineering professor who developed the startup’s technology.
“Co-Win has invested heavily in this space,” Graves said. “They’ve backed another flow cytometer company, for example, that built technology to add colors to the cell-screening process to better identify things.”