Growing a Sustainable NM Biotech Industry
The New Mexico Bioscience Authority is pleased to announce a co-investment program to provide the needed investment to new start-up companies in or companies that wish to relocate to New Mexico. A New Mexico company is, in the case of a corporation or limited liability company (LLC), a business with its principal office and a majority of its full-time employees located in New Mexico or, in the case of a limited partnership, a business with its principal place of business and 80% of its assets located in New Mexico.
The co-Investment program is a self sustaining economic development model that will create jobs, support the growth and development of new businesses, and increase spending and tax revenues.
This model will allow the NM Bioscience Authority and its investment partners to invest what is needed in a number of bioscience companies throughout the state. According to research on this topic, some of those companies will fail, but given the amount of the investment, over 10 years, the return on investment will be $250 Million.
The NM Bioscience Authority will reinvest profits from exited investments in new bioscience companies down the road to enable the sustainability of the fund.
Relevant Presentations and Articles
- NM Bioscience Authority Update & Requestopens PDF file
Science, Technology, and Telecommunications Committee
November 16, 2022, Santa Fe, NM
opens in a new windowNMBSA’s $50M Pitch Aims to Grow Economy
November 28, 2022
NM Bioscience Authority Co-Investment
Through our competitve selection process, the NM Bioscience Authority Board of Directors has entered into investment partnerships with the opens in a new windowNM Angelscreate new email and opens in a new windowAnzu Partnerscreate new email investment companies. If you are a NM based bioscience company that would like to be considered for investing, please contact our investment partners as they will perform the initial vetting before recommending partnerships to the NM Bioscience Authority.
Initial Strategic Co-Investment
The NM Bioscience Authority has successfully created an LLC with the New Mexico Angels’ NM Venture Fund that has now co-invested in the New Mexico based bioscience company, opens in a new windowBennuBio.