A Bucks County research facility was just given a large amount of funds in the form of a grant, a huge benefit to their important research. John George wrote about the large grant for the Philadelphia Business Journal.

The Baruch S. Blumberg Institute in Doylestown has landed a $2 million Pennsylvania grant to support five life sciences startups it is helping develop potentially life-saving treatments. The funds were awarded from the state’s Angel Investment Venture Capital Program, which was developed to “create a business environment in the state that attracts, and encourages, early-stage financing for Pennsylvania startups.”

The program established a $60 million fund to create investment and give loans to venture capital companies that are looking to support growth-stage companies located in the Keystone State. Venture capital firms have to invest three dollars for every dollar provided by the state.

The five biotech startups receiving funding support from the program are Merlin Biotech, RimmSting Life Sciences, Cirna Diagnostics, Harlingene Life Sciences, and Pentrávalent.

Read more about the Baruch S. Blumberg Institute in the Philadelphia Business Journal.