15 Maryland Tech Startups Receive $1+ Million from TEDCO
The Maryland Technology Development Corporation (TEDCO) has distributed $1,121,900 amongst the following technology startups in Maryland:
Amidus, LLC | Cognapse, LLC | CYNCZ, LLC | Differential Dynamics Corporation | Hememics Biotechnologies, Inc. | Nour Immune, Inc. | NutriGrown, LLC | Omic Biosystems, Inc. | Pearl LifeScience Partners, LLC | Plasmonix, Inc. | Quantum Medical Metrics, LLC | Remedium Technologies, Inc. | SAJE Pharma, LLC | Seguro Surgical, Inc. | Viracine Therapeutics Corporation
TEDCO acts independently as an entity which facilitates the conception and supports the growth of businesses throughout the entire state of Maryland. Established in 1998 by the Maryland General Assembly, TEDCO aspires to position itself as the top source of funding for seed capital and business assistance in Maryland. TEDCO links up and coming technology companies with research universities, business incubators, federal laboratories, and other forms of specialized assistance.
Each of the aforementioned companies were given around $75,000 by TEDCO’s Maryland Technology Transfer and Commercialization Fund (MTTCF). The MTTCF program aims to instigate a higher degree of collaboration between technology startups and Maryland colleges as well as federal labs in an effort to transition the developing technologies into the market.
The new class of 15 startups join the list of 119 local companies who previously have benefited from MTTCF funding. Companies who demonstrate enough potential to earn support from TEDCO tend to catch the interest of other angel investors and federal programs. $394.8 million in funding has been received by the 119 other companies after getting an initial push from MTTCF. Essentially, for every dollar that these companies receive through TEDCO, $42.4 of additional funding has been raised through other means.
Let’s take a look a the new class of MTTCF funded technology startups:
Amidus, LLC (Baltimore) – A company providing custom algorithm solutions with a number of applications, particularly for the events industry. They work with the University of Maryland Baltimore County (UMBC) Tech Center.
Cognapse, LLC (Baltimore) – A healthcare company focused on brain diseases and disorders related to aging, for example Alzheimer’s. They work with the Emerging Technology Center. Their first product, Remiva, is anticipated to launch in 2011.
CYNCZ, LLC (Germantown) – A company that is working to provide an automatic self-updating address book. They work with the Germantown Life Sciences Incubator to combine all sources of contact information including cell phones, e-mails, social networking sites, and Customer Relationship Management (CRM) softwares.
Differential Dynamics Corporation (Owings Mills) – A power generation company, also referred to as DDMotion, with an interesting agenda. They are working with the University of Maryland College Park (UMCP) to develop a new all-mechanical green technology called Infinitely Variable Motion Control (IVMC) which could be of use for power generation, vehicle transmissions, air conditioning, and compression. DDMotion aims to harness a larger percentage of the available energy generated through wind by using IVMC to convert ever-changing wind speed into a constant output.
Hememics Biotechnologies, Inc. (Rockville) – A company focused on optimizing the shipment of cell-based perishable products in an effort to extend shelf life. They work with the Shady Grove Life Sciences Center to develop ambient temperature shipping for in-vitro diagnostic reagent manufacturers of cells at a lower cost.
Nour Immunce, Inc. (Annapolis) – A company working on an anti-inflammatory agent. They’re working with the University of Maryland College Park (UMCP) to furnish a “proof of concept’ for the Federal Drug Administration (FDA) to demonstrate the effects of their new product, Nourexin-4, on a mouse model of H1N1 influenza infections. Nourexin-4 shows the potential to combat the excessive inflammation associated with other diseases such as Sepsis and Hepatitis C.
NutriGrown, LLC (Columbia) – A company focused on improving the soil environment that plants are grown in. They work with the United States Department of Agriculture Agricultural Research (USDA ARS) to produce matrix-based, soil nutrient products which are designed to reduce nitrogen and phosphorous leaching by up to 80%.
Omic Biosystems, Inc. (Rockville) – A company that works with the University of Maryland Biotechnology Institute (UMBI) to generate technology solutions for modern sciences related to biology such as genomics, proteomics, metabolomics and system biology.
Pearl LifeScience Partners, LLC (Baltimore) – A bioengineering company focusing on stimulating immune responses. They work with the Tech Center of UMBC to bioengineer “synthetic dendritic cells” which can evoke an immune response to foreign agents.
Plasmonix, Inc. (Baltimore) – A company that concentrates on fluorescent signal assays. They work with UMBI to develop Metal Enhanced Fluorescence (MEF) microplates that can be used for life science research, biohazard detection, and medical diagnostics.
Quantum Medical Metrics, LLC (Baltimore) – A company working with the UMBC Tech Center and the John Hopkins University Applied Physics Laboratory (JHU APL) to produce a high performance, affordable Forearm Strength System for measuring the force generated by forearm strength.
Remedium Technologies, Inc. (College Park) – A company focused on a hemorrhage controlling technology called “Nano-Velcro”. They’re working with UMCP to develop the wound care technology which rapidly self-assembles to form a clot-like seal upon contact with blood.
SAJE Pharma, LLC (Baltimore) – A therapeutic drug company working with Johns Hopkins University (JHU) to develop new drugs with advantages over the therapies currently available. Their lead compound, SPL-334, targets asthma.
Seguro Surgical, Inc. (Columbia) – A medical device developer working with JHU to produce the Lap Pak TM. Lap Pak TM is a medical device designed for the secure packing of bowels in order to expose the surgical site during major abdominal surgeries.
Viracine Therapeutics Corporation (Columbia) – A genetic company working with the USDA ARS to characterize and develop a set of genetic promoters for DNA containing viruses infecting invertebrates, like shrimp. They will hopefully be used to prevent plant diseases.
TEDCO Briefings: TEDCO holds briefings to inform companies how to use their funding programs to progress to the next level. The next briefing will occur at TEDCO’s office in Columbia on Friday, September 10 from 2:00PM to 3:30PM. Register via e-mail at email@example.com and put “Funding Briefing Registration” as the subject. This briefing will be free of charge.
TEDCO accepts applications for funding programs on a continual basis and reviews them monthly along with representatives from the Maryland Department of Business and Economic Development and affiliated venture capital groups. Applications are to be submitted with a formal proposal, plan for commercialization, necessary budget, and scope of work.