How TEDCO investments uplift the quality of life in Maryland

Maryland is a state with a lot to offer. Not only does it provide a strong quality of life for all residents – ranked No. 3 for best quality of life and as the No. 8 “Best State to Live In” by 24/7 Wall St. – but the state also boasts a strong, collaborative life sciences sector that welcomes entrepreneurial innovators.

This ecosystem is bolstered by the state’s unique resources, allowing Maryland to lead the nation in key areas that drive innovation; ranking No.1 in NIH R&D awards, No. 1 in STEM concentration, and No. 5 in the highest concentration of doctoral scientists and engineers, the state has no shortage of scientific research, development and medical discoveries.

With such a robust life sciences sector, it’s no surprise that the state is filled with innovative companies at the forefront of medical discovery and development. These startups are a focal point for TEDCO, the Maryland Technology Development Corporation, an organization dedicated to providing critical investments and resources that empower these life sciences companies to translate groundbreaking ideas into life-changing solutions. From liver disease detection to immuno-inflammatory treatment, TEDCO’s life science portfolio embraces a menagerie of companies and entrepreneurs working to move the industry forward.

Early liver disease detection and intervention

Current diagnostic tools for liver disease are invasive and inconsistent, leading to greater chances of poor patient outcomes and excessive health care costs. Situated in Bethesda, Maryland, AGED Diagnostics is addressing this reality using genomic innovation to develop a more accurate blood test for liver disease through early detection and intervention. This solution can be transformative, liver disease is more likely to be both treatable and fully reversible with early detection. To support this innovative approach, AGED Diagnostics received funding from TEDCO’s Builder Fund and Seed Funds in 2023.

“Thanks to TEDCO’s investment we are able to continue our research and development, working towards a future where liver disease can have early detection,” said AGED Diagnostics CEO Rachel Zayas.

TEDCO’s director of Seed Funds Teddy Gresser agreed. “TEDCO’s investment in AGED Diagnostics is an investment in improving the lives of individual patients through better outcomes and reduced financial burden. We are proud to fund their continued research and development.”

Targeted immuno-inflammatory disease treatment

Frederick, Maryland-based Veralox Therapeutics Inc. is developing therapeutics for life-threatening immuno-inflammatory diseases. Their products target the 12-Lipoxygenase pathway, which is linked to a myriad of diseases including Type 1 diabetes and heparin-induced thrombocytopenia.

This innovative approach caught TEDCO’s attention, leading to an investment from the Pre-Seed Rural Business Innovation Initiative Fund and the Seed Fund’s Life Science Investment Fund, followed by an investment from its venture funds.

“Veralox has demonstrated impressive progress since our initial investment in 2019, evolving into a clinical-stage company with a promising therapeutic approach,” said Katherine Hill Ritchie, TEDCO’s senior director of venture funds. “We are proud to continue supporting Veralox in this endeavor alongside our co-investors as they continue work to address this serious unmet clinical need to improve patient outcomes.”

Restored orthopedic health

Nostopharma, based in Bethesda, Maryland, has developed a pipeline of products aimed at controlling major complications in a range of surgeries and post-trauma scenarios, offering a complication-free future for orthopedic patients. Their injectable drug SurgeryGuard™ is designed to be administered during surgical procedures to prevent post-surgical pathologic bone growth, a complication that affects 90% of acetabular fracture survivors, 50% of elbow trauma victims and costs the health care industry an estimated $2 billion long-term.

“Nostopharma is on a mission to revolutionize orthopedic surgery. We aim to offer a complication-free future for trauma patients, athletes and chronic inflammation victims by developing treatments that help surgeons control trauma complications, including trauma-induced abnormal bone growth,” said Ekaterina Vert-Wong, cofounder and CEO of Nostopharma. “We are creating products that minimize abnormal bone growth from the start, helping patients avoid painful and costly revision surgeries.”

TEDCO announced a Social Impact Funds investment in Nostopharma in 2023.

“Nostopharma’s innovative solution to a significant healthcare challenge aligns perfectly with TEDCO’s mission to support Maryland’s most promising life science companies,” said Jean-Luc Park, senior director of Social Impact Funds at TEDCO. “By investing in Nostopharma, we’re supporting a groundbreaking medical technology to improve the lives of countless patients.”

Accelerating research and cures

By investing in companies like AGED Diagnostics, Veralox Therapeutics, and Nostopharma, TEDCO plays a vital role in Maryland’s innovation ecosystem, solidifying the state’s position as a leader in the life sciences industry, but their support doesn’t stop with investments.

TEDCO houses the Maryland Stem Cell Research Fund (MSCRF), a fund dedicated to supporting the acceleration of stem cell research and cures. Through this fund, significant advancements have been made to provide better outcomes for several detrimental diseases and conditions.

In particular, the program has supported the advancement of stem cell transplants, resulting in a life-changing procedure for a child born with severe combined immunodeficiency (SCID), also known as “bubble boy disease.” Boston Children’s Hospital explains that individuals with this disease lack the ability to produce an immune system and therefore doesn’t have the necessary means to fight off infections, making them at continual risk.

However, with the funding and support from MSCRF, a child with SCID was successfully treated, receiving a stem cell transplant and allowing the child to venture outside and enjoy life without the constant fear of infection.

Investing in a collaborative ecosystem for success

As you can see, the funding, resources and connections that TEDCO provides has allowed for Maryland’s life sciences sector to thrive. With these continued efforts, the organization will allow for even greater strides in the years to come, leading to the development of treatments that improve quality of life for patients everywhere.

But that’s not the only reason businesses and entrepreneurs should look to Maryland when considering a home for their business. Maryland’s quality of life, ranked No. 5 in the nation for healthcare by WalletHub in 2021, and No. 6 in state energy efficiency by the State Energy Efficiency Scorecard in 2020, coupled with ranking No. 2 in federal obligations for R&D and leading the nation in NIH R&D awards and STEM concentration, the state is uniquely positioned to drive innovation in the life sciences sector while still offering an enhanced quality of life for residents.

Source: Washington Business Journal