Ben Franklin Technology Partners of Northeastern Pennsylvania announces $578,000 in investments in regional businesses

The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors recently approved $578,000 in investments in regional businesses.

The selected businesses include both early-stage, technology-based firms, and established manufacturers. The investments include continuation projects for which the client reached pre-determined milestones and is receiving additional funding to continue project work.

BFTP/NEP is providing early-stage company investments in the form of loans with warrants. For established manufacturers, Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based innovation.

The early-stage investments include $135,000 for CryoConcepts LP in Bethlehem, Northampton County. The funding will support the commercialization of patented cryosurgical tools to remove benign topical skin lesions and address cosmetic applications.

PrintElements Corp. of Honesdale, Wayne County, received $100,000 to develop further a print-specific platform that utilizes technology and a diverse network of suppliers.

Ophidion of Bethlehem, Northampton County, also received $100,000 to support the commercialization of a new technology that enables the delivery of therapeutics, including large molecules, to the brain following systemic administration.

Other recipients are located in Columbia County, Luzerne County, Lehigh County, and Lackawanna County.