Six Lehigh Valley companies will share part of Ben Franklin Technology Partners of Northeastern Pennsylvania’s $1.1 million investment in regional economic development.
Ben Franklin Northeast will invest $100,000 in Venseca Inc., Lehigh County, an early start-up cybersecurity platform that creates a comprehensive network of trust between service providers and the organizations that use them by creating standardized, independent cybersecurity risk assessments and evaluations of suppliers’ cybersecurity risk postures. The funding supports product development and go-to market execution, Ben Franklin Northeast said.
Three established manufacturers will receive 1:1 matching funding for work with a college or university partner, Ben Franklin Northeast said.
BRD Noise and Vibration Control, Northampton County, which designs and manufactures materials for noise and vibration control for large commercial HVAC systems and industrial equipment, will receive $10,000 to support the implementation of parametric drawings which will enable the company to improve the productivity of engineering resources, on-time delivery and resource utilization, customer service, quality of product, and support top-line growth plans.
Straight Arrow Products, Northampton County, which produces hair and skin care products for the equestrian and human markets, will receive $20,000 to support the implementation of new modules to their Enterprise Resource Planning (ERP) system to enhance forecasting and reporting.
Both companies will partner with Lehigh University’s Center for Supply Chain Management.
US Specialty Formulations, LLC (USSF), Lehigh County, a biotech firm, commercializing an oral-mucosal vaccine, QYNDR, which recently successfully completed its Phase I clinicals, will receive $25,000 and partner with Lehigh University’s Enterprise Systems Center.
Ben Franklin Northeast said this oral vaccine targets multiple COVID-19 variants and may be adapted to other viruses such as flu, Group A Strep and RSV. USSF also produces sterile injectable pharmaceuticals for hospitals, physicians, and is a key supplier in the perfusion market.
The investment supports implementing an electronic quality control system to improve its operational workflow and tie into its anticipated new Enterprise Resource Planning (ERP) system.
In addition, Ben Franklin Northeast will invest in early-stage companies as part of the State Small Business Credit Initiative (SSBCI). These projects were financed, in part, from Pennsylvania Small Business Credit Initiative funds from the Commonwealth of Pennsylvania, Department of Community and Economic Development.
LifeAire Systems, Lehigh County, which manufactures air purification equipment for the In Vitro Fertilization (IVF), hospital, long term care, and life science markets, will receive $340,000 to continue new product and technology development, increase inventory, and improve its supply chain, Ben Franklin Northeast said.
Spoke Sciences, Northampton County, which develops technologies to deliver insoluble lipidic ingredients in water-based formulations, will receive $400,000 to support and scale up research, development, and commercialization efforts.