Global Leader in Salivary Bioscience is Grateful for Ben Franklin’s Investment
State College, PA – Salimetrics, a company that is widely regarded as a global leader in salivary bioscience, got its start nearly 20 years ago with an investment from Ben Franklin Technology Partners, and then received additional funding from the program for a buyout of early-stage investors in 2012. The founder of the company, Dr. Doug Granger, a nationally and internationally recognized scientist, pioneered the use of saliva collection methods and salivary ELISA kits which provided consistent, reliable results for research, clinical studies, and diagnostics. In short, the company’s sampling techniques improved people’s lives.
Salimetrics supports thousands of saliva researchers in more than 20 countries around the world. The company’s testing products and services allow researchers to measure stress biomarkers such as cortisol, protein, and melatonin with a minimally invasive, pain free method. Their assays have been used in more saliva-related published papers than any other assay in the field. In addition the company has Center of Excellence (COE) relationships with four university core labs and working relationships with many others.
This past month, the company that currently employs more than two dozen professionals in the State College community, not only repaid the Ben Franklin investment in full, but paid the note off early. Stephen Brawley, President/CEO of Ben Franklin commented, “We are proud to have played some small part in the huge success of this local tech company. The payback on our investment that they returned to our program enables us to continue to fund other emerging startups – startups that we hope will enjoy the same level of success as Salimetrics in years to come.”
Salimetrics’ CFO, Scott Fozard, commented, “Without Ben Franklin, the change in ownership that occurred in 2012 could not have happened. Their participation and willingness to build a creative a flexible financing structure that fit with the equity needs of our bank team was a critical component of our ability to be where we are right now.”