News Archive

Senators Cardin and Van Hollen requested more than $1 million to fund this new program

COLUMBIA, Md., (April 11, 2024) — TEDCO, Maryland’s economic engine for technology companies, has received $1,150,000 in Congressionally Directed Spending to advance its Federal Lab Leveraging Innovation to Products (FLLIP) Pilot Program. The direct spending request was sponsored by U.S. Senators Ben Cardin and Chris Van Hollen (D-Md.) and included in the Fiscal Year 2024 Financial Services and General Government funding bill, which was signed into law last month as part of a FY24 appropriations package.

“Maryland is home to more than 70 federal labs, from the NIH in Silver Spring to the Frederick National Lab for Cancer Research and the Army Medical Research and Development Command,” said Senator Cardin. “With this federal investment, we’re making it easier for traditionally underserved businesses in the healthcare industry to take full advantage of the resources right in their backyard. Community partnerships like the FLLIP Program drive innovation in the state and help build a more equitable, prepared and developed health care system.”

COLUMBIA, Md. (April 8, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $100,000 Pre-Seed Builder Fund investment in Aloe Therapeutics, a company working to deliver cancer cures. TEDCO’s Pre-Seed Builder Fund is housed under TEDCO’s Social Impact Funds which were created to engage and invest in economically underserved founders and communities.

“At Aloe Therapeutics, we are working to increase efficacy and expand eligibility for patients with hard-to-treat solid tumors and limited treatment options,” said Martha Sklavos, founder and CEO of Aloe Therapeutics. “Thanks to TEDCO’s investment we can continue to develop our lead therapy to the clinic to ‘wake up the immune system’ with our cell-based therapeutic vaccine, Allo-Immunotherapy (AIM).

Anticipation is building for the pending decision on Baltimore’s Phase 2 Tech Hubs application to the US Economic Development Administration (EDA).

That energy was most recently demonstrated during a roundtable discussion on the region’s tech hub designation at Coppin State University (CSU) on Monday. The HBCU’s president Anthony L. Jenkins kicked off the Greater Baltimore Committee’s (GBC) event by welcoming dignitaries and leaders in Maryland’s public and private sector to CSU’s sprawling 38-acre campus along North Avenue in West Baltimore.

RIVERDALE, Md., April 3, 2024 /PRNewswire/ — Medcura, Inc., a developer of hemostatic products for use in surgery, today announced that it has closed a private placement with aggregate gross proceeds of US $22.4 million (the “Offering”) in Convertible Debt. The Company intends to use the proceeds from this Offering to accelerate the development of its lead surgical product, LifeGel™ Absorbable Hemostatic Gel.  Medcura will complete its pre-clinical testing and file an Investigational Device Exemption for LifeGel with the U.S. FDA to support a global investigational study focused on stopping bleeding in spinal surgery. Current hemostatic agents swell and can cause neurological issues, including paralysis, when used in confined spaces routinely addressed in spinal surgery.

ROCKVILLE, Md., April 2, 2024 /PRNewswire/ — NeoImmuneTech, Inc. (KOSDAQ: 950220), announced that Luke Oh, Ph.D. has been appointed as President and Chief Executive Officer (CEO) of NeoImmuneTech, Inc. (NIT or “NeoImmuneTech”), effective from March 29, 2024 (EDT).

Having joined the company as President in January 2024, Dr. Oh now succeeds Dr. Se Hwan Yang, Ph.D., as Chief Executive Officer of NeoImmuneTech, Inc. In his new role, Dr. Oh will lead NeoImmuneTech from its Rockville headquarters and overview all the operations in Korea.

BETHESDA, Md.–(BUSINESS WIRE)–The Cystic Fibrosis Foundation is investing up to $8.5 million in additional funds in SpliSense to continue clinical trials for its inhaled antisense oligonucleotide (ASO) drug for people with cystic fibrosis who have certain splicing mutations and potentially other rare mutations.

WASHINGTON, April 2, 2024 /PRNewswire/ — Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced that the U.S. Food and Drug Administration (FDA) has approved Fanapt^® (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults. Fanapt^® is an atypical antipsychotic agent that has been used for the acute treatment of patients with schizophrenia since its FDA approval in 2009.

“Manic or mixed episodes associated with bipolar I disorder are highly complex conditions, which require a host of trusted options to meet individual patient needs. With over 100,000 patient years of experience, Fanapt is a familiar therapeutic agent that offers flexible dosing with a well-known safety profile. This FDA approval gives patients and service providers a new treatment option for managing bipolar I disorder,” said Mihael H. Polymeropoulos M.D., Vanda’s President, CEO and Chairman of the Board.

WASHINGTON, April 03, 2024 (GLOBE NEWSWIRE) — 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (or the “Company”), a pharmaceutical company focused on developing new medicines for infectious diseases, announced today that the Company will sponsor a pilot study of tafenoquine, the active molecule in its U.S. Food and Drug Administration (FDA)-approved human malaria prevention medication, ARAKODA^®, for the treatment of babesiosis in dogs. The study will support a broader effort now being led by 60 Degrees Pharmaceuticals to evaluate tafenoquine for various babesiosis indications.

Tafenoquine has not been proven to be effective for treatment or prevention of canine babesiosis and is not approved by the FDA for such an indication.

April 2, 2024, Frederick, Maryland — Kemp Proteins LLC, a leading provider of monoclonal antibody development and gene-to-protein services, announced today that the company has entered a Strategic Partnership with Columbia Biosciences of Frederick, Maryland. With a long history in manufacturing of fluorescent proteins and renowned excellence in protein conjugation, Columbia Biosciences uses its experience to select appropriate fluorophores and conjugation chemistries for target antibodies and proteins. Columbia’s technology is broadly applicable in the molecular tools and diagnostic space with applications in Flow Cytometry, Luminex, Western Blot/ELISA, Microscopy and High Throughput Screening. The combination of Kemp’s capability to develop and manufacture gram quantities of proteins and monoclonal antibodies for its clients, together with Columbia’s superior fluorescent conjugation, will provide a streamlined opportunity to generate client-directed, custom-tailored ready-to-use molecular tools manufactured under ISO13485:2016 compliant Quality Management Systems.

Be Biopharma to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform within its Engineered B Cell Medicines programs
ROCKVILLE, Md., April 02, 2024 (GLOBE NEWSWIRE) — MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications and Be Biopharma (“Be Bio”), a company pioneering the development of Engineered B Cell Medicines (BCMs) to dramatically improve the lives of patients who are living with genetic diseases, cancer, and other serious conditions, today announced the signing of a strategic platform license (SPL) to support the development of Be Bio’s BCMs programs.

Under the terms of the agreement, Be Bio obtains non-exclusive research, clinical and commercial rights to use MaxCyte’s Flow Electroporation® technology and ExPERT™ platform. In return, MaxCyte is entitled to receive annual licensing fees and program-related revenue.