The Latest on Innovation & Entrepreneurship in Maryland
January 2020
TEDCO , Maryland’s investment engine for start-up technology and life science companies, today announced retired Major General Linda Singh as its interim Executive Director/Chief Executive Officer (ED/CEO) effective January 2, 2020.

Linda’s appointment comes at a critical juncture as TEDCO emerges from its moratorium on investments in key programs.  

“We’ve made meaningful progress toward merging State and organizational priorities over the past several months and are excited to have identified a seasoned leader to build on this momentum,” stated Myra Norton, TEDCO Chair of the Board and President of Arena. “Linda has a strong leadership track record in private industry and government. This, combined with her personal leadership style makes her uniquely qualified to lead TEDCO successfully during this transition period.”
TEDCO , Maryland’s economic engine for technology companies, announced its recent round of funding for select projects through the   Maryland Innovation Initiative  (MII). This round of funding includes project grants for technology assessment and investments in the spin-out companies, from its five partner universities for a total of $2.63M.
Maryland Energy Innovation Institute - FY 2020 Energy Innovation Seed Grant

Accepting proposals now through January 24, 2020

Opportunities to Join Cohort 1 Startup Teams - Maryland Energy Innovation Accelerator

Cohort 1 runs January through June. Accepting energy executive applications on a rolling basis.

Maryland Stem Cell Research Fund Application Deadline:
January 16, 2020

The Maryland Stem Cell Research Commission (Commission) issued a Request for Applications (RFAs) for its second round of funding for fiscal year 2020 and is looking to continue funding cutting-edge research and accelerating cures through the Maryland Stem Cell Research Fund (MSCRF).

Key Dates
Application Submission Deadline:  January 16, 2020, by 5:00 p.m.
Peer Review Date(s):  March 2020
Commission Review Date(s):  May 2020
Earliest Anticipated Start Date:  June 2020
MBIA 2020 Member Meeting
Thursday, January 9, 2020
4:00 PM - 6:30 PM
Maryland Innovation Center

BioBuzz Networking Event with BioIT
Wednesday, January 15, 2020
5:00 PM - 7:00 PM
Bar Louie - Rockville

Thursday, January 16, 2020
7:30 AM - 2:45 PM
University of Maryland - College Park

HUBZone Industry Awards Gala
Friday, January 17, 2020
6:00 PM - 10:00 PM
Morgan State University

Maryland Tech Council's Annual Leadership Dinner
Wednesday, January 29, 2020
5:30 PM - 8:30 PM
Graduate Annapolis

Marketing Matters Presents: Corporate Culture Counts
Tuesday, February 11, 2020
4:00 PM - 6:00 PM
Maryland Innovation Center

2020 Economic Development Day in Annapolis
Tuesday, February 18, 2020
9:00 AM - 2:00 PM
Miller Senate Building - Annapolis

TEDCO names former Md. National Guard head Singh as acting director

Retired Maj. Gen. Linda L. Singh, former adjutant general of the Maryland National Guard, will serve as interim executive director and CEO of the Maryland Technology Development Corporation, TEDCO announced Thursday. Singh will lead the agency responsible for investing in Maryland startup companies while it conducts a search for its next full-time leader.

TEDCO reopens apps for Maryland startup funding

Maryland Technology Development Corporation (TEDCO) is once again accepting applications from startups seeking investment from several of its funds that were put on hold in the middle of 2019.

In June, the state-backed organization stopped making investments from its seed funds, Builder Fund, Rural Business Innovation Initiative and Maryland Venture Fund while it created regulations to comply with legislation passed last year by the Maryland General Assembly. These regulations followed a state legislative audit which was critical of the Maryland Venture Fund, which invests in growth companies, for investing in businesses that weren’t found to be primarily based in Maryland, and lacking policies to prevent conflict of interest on a Maryland Venture Fund advisory committee.

TEDCO, NIST give four companies funding

The Maryland Technology Development Corp. and the National Institute of Standards and Technology awarded four companies a total of $448,000 to develop NIST-licensed technologies for the market, TEDCO announced Tuesday.

The NIST Science and Technology Entrepreneurship Program (N-STEP) focuses on commercializing NIST research. It lets NIST researchers who have left the agency or will soon be leaving the agency to commercialize technology they researched.

TU names McQuown to head up entrepreneurship

Towson University has hired Patrick T. McQuown to lead the university’s entrepreneurship and innovation.

As the Executive Director of Entrepreneurship, McQuown will provide a collective strategic vision and direction for entrepreneurship activities at TU. The role is part of the  Division Strategic Partnerships and Applied Research .

RoosterBio , a TEDCO Portfolio Company, expands facility for second time in 2019

RoosterBio Inc., a leading supplier of human mesenchymal stem/stromal cell (hMSC) working cell banks and hMSC bioprocess systems, announces today an expansion of its facility in Frederick, Maryland for the second time in 2019. The addition of 5,000 square feet to its existing 15,500 footprint supports the company’s expansion efforts and provides infrastructure to meet a growing international demand for its standardized hMSC bioprocess tools. By strengthening its cell manufacturing solution portfolio and presence in the Asia Pacific and Europe, RoosterBio is giving more people around the world the ability to advance regenerative medicine cures.

HeMemics Biotechnologies, Inc., a Rockville-based TEDCO portfolio company, received a $2.5M investment from AMVI Partners

Hememics Biotechnologies Inc. plans to use the investment from AMVI Partners to begin clinical research for FDA submission for its flagship biotech product, a point-of-care panel to test for sexually transmitted diseases.

TEDCO Portfolio Company, CoapTech , in the news

Researchers in London, Ont., are the first in the world to use a new device for feeding tube insertion that can improve patient safety and reduce the cost of health-care services.
A team from Lawson Health Research Institute has partnered with CoapTech LLC, a medical device company, to study the use of the PUMA-G System.

Machfu raises $3.75M to accelerate Industrial IoT

Machfu , a leader in Edge Intelligence Platform and Applications for the Industrial Internet of Things (IIoT), announced that it has closed $3.75 million in its Series A round. This investment is led by CSL Ventures with participation from existing and new investors, Blu Ventures, Texas Ventures and Texas Halo Fund. The company will use the capital to accelerate its successes in Smart Grid and Oil & Gas markets and expand its footprint in the industrial space.

CIRM (California Institute for Regenerative Medicine) features Elixirgen Scientific on their blog

With patient-derived induced pluripotent stem cells (iPSCs) in hand, any lab scientist can follow recipes that convert these embryonic-like stem cells into specific cell types for studying human disease in a petri dish. iPSCs derived from a small skin sample from a Alzheimer’s patient, for instance, can be specialized into neurons – the kind of cell affected by the disease – to examine what goes wrong in an Alzheimer’s patient’s brain or screen drugs that may alleviate the problems.

Hackensack Meridian Health Invests in Adaptive Phage Therapeutics, Aiming to Kill 'Superbugs' as Part of Bear's Den Innovation Program

Hackensack Meridian  Health  has invested in the clinical-stage biotechnology company   Adaptive Phage Therapeutics  (APT), as part of the health network's successful innovation program, the Bear's Den.

APT is taking aim at the toughest multi-drug resistant "superbugs" using precision-targeted, genomically-screened, and highly purified viruses known as bacteriophages, or "phages."

MaxCyte and KSQ Therapeutics Announce Development and Commercialization Agreement to Enable the Advancement of KSQ's Adoptive Cell Therapy Programs

MaxCyte, the global cell-based therapies and life sciences company, and KSQ Therapeutics, a biotechnology company using its proprietary CRISPRomics® discovery platform to achieve higher probabilities of success in drug development, announced today that the companies have entered into a new development and commercialization agreement. Under the agreement, KSQ gains rights to use MaxCyte’s Flow Electroporation® technology and ExPERT™ instruments for the advancement of KSQ’s engineered tumor-infiltrating lymphocyte (eTIL™) programs, which the company is developing for the treatment of PD-1 refractory solid tumors.

TEDCO funds open again for applications

Four Maryland Technology Development Corporation funds will begin accepting applications for investments again after they had delayed investments while adapting regulations to an oversight law passed by the Maryland General Assembly last year.

The Builder Fund, the Maryland Venture Fund, the Rural Business Innovation Initiative and the Seed Fund are now accepting applications for investment.

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