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).
Aloe Therapeutics, based in Germantown, Md., is a biotech company working to harness the power of transplant rejection to deliver cancer cures using their locally delivered immunotherapy solution, Allo-Immunotherapy (AIM). AIM is implanted at the tumor site during a routine biopsy and/or tumor resection surgery and serves as “bait” for the immune system by triggering an influx of immune cells in the tumor microenvironment. Turning “cold” immune cell deficient tumors into “hot” immune cell rich tumors primes the immune system to increase response rates to checkpoint immunotherapy.
“Aloe Therapeutics’ vision to support cancer patients is admirable,” said Jean-Luc Park, senior director of TEDCO’s Social Impact Funds. “The innovative thinking of entrepreneurs like Martha is the reason why TEDCO exists – we are proud to support bringing innovation to market.”
Funded companies are provided with resources like hands-on executive support, peer-to-peer mentoring and collaboration, and networking opportunities. For information about TEDCO’s Builder Fund, visit https://www.tedcomd.com/funding/builder-fund.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
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Media Contact
Tammi Thomas, Chief Development & Marketing Officer, TEDCO, This email address is being protected from spambots. You need JavaScript enabled to view it.