BennuBio, Inc., a provider of advanced cell and particle instrumentation for the life science market, today announced it has closed on $5 million of a $7 million financing round.
March 25, 2020- The Series B financing was led by new investor Co-Win Ventures with additional investment by existing investors Tramway Venture Partners, Cottonwood Technology Fund, and Sun Mountain Capital. In connection with the financing, Xin Huang of Co-Win Ventures will join BennuBio’s Board of Directors.
“We are delighted to have Co-win Ventures lead the financing and are grateful for the continued support of our existing investors. Co-Win has a great track record of investing in successful life science companies,” said Steven W. Graves, CEO of BennuBio. “These funds will enable the company to expand our commercial efforts, accelerate development of new features for our initial product, and further develop additional complementary products.”
BennuBio’s platform for cell and particle analysis, the VeloCytTM Flow Cytometer, measures critical properties of cells, model tissue systems, small organisms and other particles at up to 100 times the rate of any other instrument while providing unmatched assay flexibility and providing total sample recovery. Utilizing patented acoustic technology, these features make the VeloCytTM a major advance for a wide array of biomedical research applications including rare cell detection for numerous diseases and the rapid discovery of new pharmaceuticals for the treatment of cancer and other diseases. In addition to the VeloCytTM, BennuBio is developing new products for rare cell sorting and the generation of 3D tissue models for disease research. For more information please see www.bennubio.com, email info@bennubio.com, call +1 (505) 246-6901, or follow us at @BennuBio on Twitter, or https://www.linkedin.com/company/bennubio-inc/.
“We believe BennuBio’s innovative cell and particle analysis platform will play an important role in high-growth research markets throughout the life sciences and potential clinical applications,” stated Xin Huang, Managing Partner at Co-Win Ventures. “BennuBio has developed innovative patented technologies and an exciting new flow cytometer and with this new funding is now positioned to accelerate their growth.”
About Co-Win Ventures
Co-Win Ventures focuses on early-stage investments in technology and healthcare companies in both China and the United States. Founded in 2009, Co-Win has managed thirteen RMB funds and two USD funds with over 3.7 billion RMB (530 million USD) under management. Co- Win currently has more than 50 healthcare portfolio companies in pharmaceuticals, medical devices, diagnostics and digital health sectors. Co-Win aims to identify world-leading biotech and medtech innovations with global intellectual properties and to leverage the vast clinical resources in China to speed up the R&D process and value-inflection of portfolio companies. Their portfolio includes many successful companies including: Thrive, Cytek, PGDx, and GeneCast among many others. For more information, please visit http://en.cowinvc.com/index.html.
About Tramway Venture Partners
Tramway Venture Partners is an early stage venture fund investing in biotech, medtech, and healthtech. Typically, Tramway invests in the first institutional round after incubators and angel investors. The best fit with this strategy is a company led by an outstanding management team, that has a significant intellectual property position, clear go to market strategies, and a large addressable market. For more information please visit https://www.tramwayventures.com/about.php.
About Cottonwood Technology Fund
Cottonwood Technology Fund is a top-decile performing early-stage venture capital fund. Cottonwood Technology Fund is active on two continents (USA & Europe) and has offices in the USA and in The Netherlands. Cottonwood Technology Fund provides disruptive capital to disruptive technology businesses. Cottonwood’s investment approach and focus is on hard science, pre-seed, seed and early-stage funding (Series A). For more information please visit https://www.cottonwood.vc/.
About Sun Mountain Capital
Sun Mountain Capital is a diversified private equity firm with investment strategies in both direct investment and fund of funds programs spanning venture capital, mezzanine debt and growth equity. Sun Mountain Capital was founded in 2006 by a team of senior investment professionals. The team has continued to grow since the Firm’s founding and today encompasses a broad network for deal sourcing and best in class investment diligence and analysis. Post investment, the Firm provides value adding investment management through board of director positions in portfolio companies and membership on Limited Partner Advisory Committees. For more information please visit https://sunmountaincapital.com/.
Media Contact
Company Name: BennuBio, Inc
Contact Person: Ben Alderete
Email: ben.alderete@bennubio.com
Phone: 510-305-3855
Address: 609 Broadway Blvd NE
City: Albuquerque
State: New Mexico
Country: United States
Website: www.bennubio.com