TEDCO Invests in CarrTech Corp.
his biotechnology company aims to save lives through their transformative medical device.
COLUMBIA, Md., (September 23, 2024) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $250,000 Builder Fund investment in CarrTech, a life sciences company working to support patients and healthcare providers. The Builder Fund is part of TEDCO’s Social Impact Funds, an umbrella of funds designed to support underserved founders and communities.
“The purpose of CarrTech and our medical device FROG®, is saving lives by mitigating the risk of preparing ampoule-based medication,” said CarrTech’s founder and CEO Sue Carr. “My team and I are incredibly optimistic about the huge impact TEDCO’s investment could bring to the healthcare community.”
CarrTech Corp., located in Frederick, Md. aims to reduce the significant risk associated with filtering medication packaged in glass ampoules. The extensive eight-step preparation process of filtering ampoule-based medication before administering to a patient, poses an increased risk of needlestick injuries to the healthcare providers. Additionally, if the medication is not filtered properly, glass shards entering a patient’s bloodstream can lead to fatal injuries. This risk is what led to the founding of CarrTech and their innovative medical device, FROG®, (Filter Removal of Glass); with this innovative device healthcare providers could see a reduction of needlestick injuries, more efficiency and better filtration.
Jean-Luc Park, senior director of Social Impact Funds, explains “the FROG® device created by CarrTech Corp. can be a benefit to hospitals across the state and beyond. The goal behind helping fund life-science businesses such as these, here at TEDCO, is to support the companies creating new technologies.”
CarrTech Corp previously received funding from TEDCO’s Seed Funds, Pre-Seed Rural Business Innovation Initiative Funds and RUBRIC program. In addition, the company has participated in several of the organization’s programs and resources including the Prelude Pitch, Network Advisors, SBIR/STTR Proposal Lab, DefTech and the Leading Women’s Program (now the Institute for Women Entrepreneur Excellence, Inc).
“An innovation like CarrTech’s is the embodiment of our work at TEDCO,” said TEDCO Social Impact Funds senior director, Jean-Luc Park. “We are looking forward to the developments at this company and through the greater Maryland entrepreneurial ecosystem.”
For more information about TEDCO’s Social Impact Funds, visit https://www.tedcomd.com/funding/social-impact-funds. Applications are open year-round.
