April 18, 2024
For Global Investor Audience Only

Novavax’s Nuvaxovid XBB.1.5 dispersion for injection, COVID-19 Vaccine (recombinant, adjuvanted) (NVX-CoV2601) is now available to pharmacies across the United Kingdom (U.K.) for private healthcare providers to offer an updated protein-based non-mRNA option as part of the 2024 vaccination season.

Today is an important milestone for our organization. It demonstrates our commitment to deliver an updated protein-based COVID-19 vaccine as we evolve into an endemic market. It also underscores our place as a long-term partner to public health. We believe a diverse vaccine portfolio and broader access can play vital roles in protecting communities in the U.K. and elsewhere.

Multi-institute clinical trial demonstrates therapy can be safely used in pediatric regional centers

WASHINGTON, April 18, 2024 (GLOBE NEWSWIRE) -- In a first-of-its-kind clinical trial, researchers found that intravenous therapies made from virus-specific T-cells (VST) can effectively treat immunocompromised pediatric patients, far surpassing the current standard of care, according to new research published in Nature Communications.

More than 60% of patients in the phase 2 clinical trial led by investigators from Children’s National Hospital and Huntsman Cancer Institute responded to the innovative VST therapy. This new treatment uses blood from healthy donors to manufacture a highly specialized immune therapy that, when given to immune-compromised patients, prompts their immune system to fight off potentially life-threatening viruses, including cytomegalovirus, Epstein-Barr and adenovirus. Without this therapy, estimates suggest that less than 30% of patients would recover, using standard protocols.

OXFORD, United Kingdom, April 18, 2024 (GLOBE NEWSWIRE) -- Barinthus Biotherapeutics plc (NASDAQ: BRNS), formerly Vaccitech plc, a clinical-stage biopharmaceutical company developing novel T cell immunotherapeutic candidates designed to guide the immune system to overcome chronic infectious diseases, autoimmunity and cancer, today announced topline final data from the APOLLO trial (also known as HPV001), a completed randomized, placebo-controlled Phase 1b/2 dose-ranging trial of VTP-200 in women with low-grade cervical lesions associated with persistent hrHPV infection.

“This was our first in-human, dose-ranging trial of VTP-200 in women with hrHPV-associated low-grade cervical lesions, who currently don’t have any treatment option until progression to high-grade lesions,” said Bill Enright, Chief Executive Officer of Barinthus Bio. “While we didn’t observe a significant improvement from VTP-200 in the overall pooled results, we did observe positive trends in the highest dose cohorts.”

PitchBook’s VC Ecosystem Rankings compare global cities based on the size and maturity of their startup networks. The framework helps founders, operators and investors assess locations when deciding where to expand or invest.

Network effects matter in venture capital: Investors get more than half of their deals through referrals, according to research led by Harvard professor Paul Gompers. So it stands to reason that dealmakers should seek these networks out when deciding where to do business.

The list is based on a scoring system that uses PitchBook’s proprietary data on private companies. Development and growth scores are based on data related to deals, exits fundraising and other factors from the last six years.

Washington, DC (April 17, 2024) – Venable LLP is pleased to announce that it has been named to American Lawyer magazine’s 2024 Am Law 100 list. The annual ranking lists U.S. law firms based on 2023 gross revenue. Venable LLP moved up the list from last year to #64.

The firm also ranked strong in other categories, including:

• #62 – Revenue per Lawyer
• #67 – Profits by Lawyer
• #78 – Compensation – All Partners
• #80 – Profits per Equity Partner

BY ERIC SCHMIDTAPRIL 16, 2024 4:20 PM EDT
Schmidt, Commissioner, National Security Commission on Emerging Biotechnology; Co-founder with his wife Wendy, Schmidt Sciences; Former CEO & Chairman, Google

Imagine a world where everything from plastics to concrete is produced from biomass. Personalized cell and gene therapies prevent pandemics and treat previously incurable genetic diseases. Meat is lab-grown; enhanced nutrient grains are climate-resistant. This is what the future could look like in the years ahead.

The next big game-changing revolution is in biology. It will allow us to more effectively fight disease, feed the planet, generate energy, and capture carbon. Already we’re on the cusp of these opportunities. Last year saw some important milestones: the U.S. approved the production and sale of lab-grown meat for the first time; Google DeepMind’s AI predicted structures of over 2 million new materials, which can potentially be used for chips and batteries; Casgevy became the first approved commercial gene-editing treatment using CRISPR. If I were a young person today, biology would truly be one of the most fascinating things to study.

Joel Marcus, the longtime head of Alexandria Real Estate Equities, sees few near-term challengers to the established biotech hubs of Boston, San Diego and San Francisco.

Joel Marcus built a real estate empire on the life sciences industry’s steady growth. Over three decades, his company Alexandria Real Estate Equities has amassed tens of millions of square feet of office and laboratory space in drug development hubs like Boston, San Diego and the San Francisco Bay Area.

Those holdings have given Alexandria a front row seat to biotech’s boom over much of the past decade through to the sector’s pandemic highs and more recent downturn.

2024 may well become the year of the bootstrapped founder.

The startup “mass extinction event” that doomsayers have predicted for two years is likely to ramp up in 2024. New founders facing a brutal funding environment may instead opt to bootstrap their growth.

Over 55,000 VC-backed companies are operating in the US right now, according to the latest PitchBook-NVCA Venture Monitor. Many of them are aggressively competing for funding in a slow dealmaking landscape.

At the same time, over 2,000 VC firms effectively halted making new investments in startups in the first nine months of 2023. Approximately 3,200 startups failed in 2023, and there’s even a burgeoning industry dedicated to helping founders wind down their companies.

Read more ...

Maryland biotech company continuing mission to provide antibiotic sensitivity precision diagnostics

COLUMBIA, Md. (April 15, 2024) – fdfsTEDCO, Maryland’s economic engine for technology companies, announced a recent $250,000 Seed Funds investment in Astek Diagnostics, a biomedical company.

“From the early days in my basement during the pandemic, TEDCO saw potential in our idea and supported us with our very first check,” said Mustafa Al-Adhami, CEO of Astek Diagnostics. “Today, our team stands strong at nine, having achieved the milestone of our first version of the product and partnerships with urology practices and hospitals across the globe.”

[4/15/2024] Today, FDA's Center for Drug Evaluation and Research (CDER) announced the launch of the CDER Center for Clinical Trial Innovation (C3TI). C3TI’s mission is to promote CDER clinical trial innovation activities through enhanced communication and collaboration, both internally within CDER and externally.

“CDER’s long-standing efforts to embed innovation in clinical trial design and conduct into our regulatory work have been crucial in bringing new therapies to areas of unmet medical need,” said Patrizia Cavazzoni, M.D., director of CDER. “We are eager to build on this foundation by launching C3TI to further spur the adoption of clinical trial innovation across industry and within CDER.”

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.”

By Rebekka Spiller - For inventor and CEO Sue Carr, tenacity and determination drive success. The founder of CarrTech Corp. says that challenges helped her envision a revolutionary innovation in health care: the FROG ® needle.

FROG ® stands for Filter Removal of Glass and is the only all-in-one needle designed to filter out glass shards from ampoules prior to administering medication to patients. It offers three main purposes: to ensure that practitioners do not bypass the filtering process, to reduce needle prick injuries and to save time in emergency situations.

Carr’s journey was initiated after deciding to transition from her longtime role as hometown pharmacist to clinical pharmacist for hospitals. After spending time working alongside various doctors and nurses, she noticed a concerning trend.

SAN DIEGO — Kimryn Rathmell, director of the National Cancer Institute, gestured toward the screen and asked an audience of clinicians, researchers, and patient advocates what they thought they were looking at. Projected behind her was a patchwork of purple, red, pink, and blue squares.

Moments later, a larger-than-life image of Taylor Swift flashed in the middle of the pattern, and laughter rippled through the room here at the American Association for Cancer Research annual meeting as attendees realized they were staring at a poster of the singer’s “Eras Tour.”

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).

GAITHERSBURG, Md. – Adventist HealthCare has been named one of Newsweek’s Most Trustworthy Companies in America 2024. The list of 700 U.S. companies was announced March 27 after an analysis by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider.

Adventist HealthCare was among only 10 hospitals and healthcare systems in the U.S. to receive this prestigious recognition.

Adventist HealthCare ranked 18th among 37 public and private organizations in the Healthcare and Life Sciences category, which included a broad range of care providers, device manufacturers, pharmaceutical companies, and online health and wellness firms.

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 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.

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.

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.

Investment in Maryland’s life sciences community is heating up only a few months into 2024. From new market launches to expanded production capabilities to increased office space, the past month has seen a flurry of good news across the industry.

Bert Vogelstein , a Johns Hopkins professor of oncology, has launched a new business named Clasp Therapeutics with help from $150 million in funding. Vogelstein has a history of launching successful cancer-focused companies in Baltimore, including Haystack Oncology and Thrive Earlier Detection. The BBJ reports his previous ventures focused on cancer diagnostics , while Clasp Therapeutics will target cancer treatment. The company will have biomanufacturing operations and office space in Rockville.

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.

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.

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.

COLUMBIA, Md. (April 1, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $50,000 Pre-Seed Builder Fund investment in LASARRUS, a medical device company dedicating to supporting Chronic Obstructive Pulmonary Disease (COPD) patients. 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.

“With our innovative device, we are looking to bring current monitoring practices for COPD patients to a new level,” said Lloyd Emokpae, co-founder, CEO and chief technology officer of LASARRUS. “Thanks to TEDCO’s investment we can accelerate our mission to enhance care for COPD patients and ultimately support more COPD patients across Maryland and beyond.”

A globally recognized physician-scientist who studies and treats blood cancer is joining Virginia Tech to lead cancer research in Washington, D.C., said Michael Friedlander, Virginia Tech’s vice president for health sciences and technology and executive director of the Fralin Biomedical Research Institute at VTC.

Christopher Hourigan, a senior investigator and chief of the Laboratory of Myeloid Malignancies at the National Institutes of Health, will join Virginia Tech as a professor with the institute and director of its Cancer Research Center in Washington, D.C.

“Dr. Hourigan exemplifies the prototype of a physician-scientist, integrating insights from his patient interactions directly into his fundamental and translational laboratory research,” Friedlander said. “We are extremely enthusiastic to have him join Virginia Tech and become a member of the Fralin Biomedical Research Institute team to take on this important new leadership role for our growing cancer research programs in Washington, D.C., and to further strengthen our collaborations with Carilion Clinic, Children’s National Hospital, and other health systems and universities.

ROCKVILLE, MARYLAND, April 1, 2024 - BioHealth Innovation, Inc. (BHI) is delighted to present a compelling episode on its podcast, BioTalk with Rich Bendis, titled "Transforming Healthcare: Insights from John Sackett, Adventist Healthcare COO on BioTalk." In this captivating episode, John Sackett, Executive Vice President & COO of Adventist Healthcare, shares his extraordinary journey and invaluable insights into the evolving landscape of healthcare delivery, all while managing cystic fibrosis.

John Sackett's story is one of resilience, leadership, and innovation. From his early days as an administrative assistant to his current role as Executive Vice President & COO of Adventist Healthcare, John has demonstrated unwavering dedication to improving healthcare outcomes in the BioHealth Capital Region (BHCR). Despite the challenges posed by cystic fibrosis, a chronic and life-threatening genetic disease, John has thrived professionally and emerged as an inspirational figure, defying the odds and becoming a beacon of hope for others.

In this episode, John candidly discusses his personal journey of managing cystic fibrosis while excelling in his career. His story sheds light on the challenges faced by individuals living with chronic illnesses and underscores the importance of resilience, innovation, and patient-centered care in healthcare delivery.

Venture financing for Maryland’s life sciences industry in 2023 shows signs of recovery following the significant downturn in 2022, with the total value of private equity financing reaching USD 805m (up from USD 639m in 2022). For the biotech industry, the value of venture financing deals remained stable (USD 453m in 2022 vs. USD 451m in 2023), while the number of funding rounds increased by nearly half (26 rounds in 2022 vs. 38 rounds in 2023).

Among Maryland-based companies that went public in 2023, YS Biopharma led the way with a SPAC merger raising gross proceeds of USD 36m, followed by the IPOs of MIRA Pharmaceuticals (USD 8.9m) and Bullfrog AI Holdings (USD 8.4m). The two largest private equity financing rounds for biotech companies were raised by Georgiamune Inc. with a Series A round of USD 75m and ManaT Bio with a financing round of USD 72m.

LaunchPort welcomes CEO Samantha Scott and her team as the latest Residents to join the Baltimore Peninsula site.

JuneBrain Inc. (https://www.junebrain.com/) offers accessible monitoring solutions for eye care and neurology. With approximately 1.3 billion individuals worldwide afflicted by conditions such as multiple sclerosis (MS) and age-related macular degeneration (AMD), tracking the progression of these ailments often involves monitoring the retina. To address this need, JuneBrain has developed an AI-driven wearable eye-scanning device and SaaS platform. This innovation facilitates the detection of new disease activity and empowers clinicians to monitor disease progression and patient responses to treatment between clinical visits.

March 28, 2024, Baltimore, MD. – BioBuzz Networks and the International Society of Pharmaceutical Engineering (ISPE) – Chesapeake Bay Area (CBA) Chapter are pleased to announce the establishment of a Memorandum of Understanding (MOU) between the two organizations. This MOU will enable both BioBuzz and ISPE-CBA to formally work together to help strengthen Maryland’s pharmaceutical and biotech industries by building a stronger, more connected community.

Both Biobuzz and ISPE-CBA provide important educational and networking opportunities for the large biopharma community that has grown in Maryland. In fact, the BioHealth Capital Region (Maryland / Virginia / Washington, D.C) is the third largest biopharma cluster in the United States. Working as ISPE-CBA’s official media partner, the partnership will enable BioBuzz to participate in each of ISPE-CBA’s many events, which include sustainability and other educational webinars and site tours, Women in Pharma®, Emerging Leader, and Student educational and networking initiatives, and numerous social events, as well as the Chapter’s annual conference, the Mid-Atlantic Science & Technology (MAST) Meeting, which provides a full day of education, networking opportunities, and an exhibit hall for pharma/biotech companies and service providers alike to share their products, introduce their company, and raise their brand’s industry profile.  ISPE-CBA, based on this partnership, will enjoy continuous promotion on BioBuzz’ substantial online media network, with a reach of more than 400,000 viewers, and will enjoy an enhanced presence at BioBuzz’ many networking events held throughout Maryland each year.

Altimmune on Wednesday said its experimental drug helped patients shed weight but also minimized the loss of muscle mass in a midstage trial, a finding that could set it apart in a potentially crowded market.

Altimmune is one of several smaller biotech companies that are pushing to compete directly with Novo Nordisk and Eli Lilly in the growing weight loss drug space, or to get scooped up by larger drugmakers that can help bring their treatments to market.

The results are an early sign that the biotech company can address a major concern around those treatments, which have drawn unrelenting demand and investor interest over the last year.

Program performer teams to develop innovative ways for joints to heal themselves 

The Advanced Research Projects Agency for Health (ARPA-H), an agency within the U.S. Department of Health and Human Services (HHS), today announced the Novel Innovations for Tissue Regeneration in Osteoarthritis (NITRO) program’s five teams receiving awards to create and commercialize injectable and implantable regenerative therapies for osteoarthritis (OA). NITRO’s goal is to eradicate OA, a common and irreversible condition where bones and cartilage break down, and that often involves debilitating pain and loss of functional movement, and complex and costly reconstructive surgery.  

CHARLOTTESVILLE, VA – March 26, 2024 – AMPEL BioSolutions announces a breakthrough in personalized precision medicine that will revolutionize the way doctors manage the autoimmune disease Lupus.  Revealed in the peer-reviewed journal Genome Medicine and being made available to patients through a US follow-on study, the LuGENE^® blood test forecasts patient flares and drug targets from gene expression utilizing predictive AI.

The LuGENE^® lab test is now launching at several Lupus practices around the country including those in medical centers, concierge practices and healthcare systems as a practical decision support biomarker test that could greatly impact day-to-day healthcare for patients with Lupus.  The blood test predicts flares before they happen and provides specific information about a patient's disease abnormalities leading to symptoms, allowing physicians to make evidence-based decisions regarding therapy including whether a patient is stable on their current therapeutic regimen.  There are a million and a half lupus patients in the US that could benefit from LuGENE^® by preventing unexpected flares and shortening the time to disease-controlling therapy.

Join us in this episode of BioTalk with Rich Bendis as we delve into the Baltimore ecosystem with Kory Bailey, Chief Ecosystem Officer (CEO) of UpSurge Baltimore, a trailblazing organization dedicated to fostering equitable economic growth and innovation.

Kory Bailey brings over a decade of leadership experience from both early-stage startups and big tech. He has emerged as a thought leader on equitable economic growth and a champion for Baltimore's tech ecosystem. As the CEO of UpSurge Baltimore, Kory is spearheading the vision for Baltimore to become the first Equitech hub globally, pioneering a new model for American innovation.

Listen now via your favorite podcast platform:

Apple: https://apple.co/4a6C9GQ
Google: https://bit.ly/3IOlFae
Spotify: https://spoti.fi/3vtbl4v
Amazon Music: https://amzn.to/3vpZDHI
TuneIn: https://bit.ly/3VvuWvk

In this discussion, Kory unveils UpSurge Baltimore's mission: to cultivate a thriving tech ecosystem for innovators, founders, and talent by fostering culture and connectivity and mobilizing regional and national assets around Baltimore startups.

From exploring what drew him to Baltimore to discussing the evolution and unique aspects of UpSurge, Kory shares insights into the philanthropic landscape in Baltimore and initiatives like the Equitech Accelerator, Techstars, KHU, and CareFirst. He also delves into the primary challenges facing Baltimore and UpSurge's short-term goals focused on accountability, awareness, investment, and early-stage support.

COLUMBIA, Md. (March 20, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $500,000 Maryland Equity Investment Fund (MEIF) investment in Innate Technologies, Inc. The MEIF – which is housed under TEDCO’s Venture Funds – was created to increase private equity and venture capital in Maryland, generate financial returns, and foster economic growth.

“Our goal at Innate Technologies is to provide a solution that will fill the current void in digital manufacturing practices – data integration,” said Shawn Springs, founder and CEO of Innate Technologies, Inc. “Thanks to TEDCO’s investment we can continue our mission to revolutionize manufacturing through data collaboration.”

Innate Technologies, Inc., headquartered in North Bethesda, Md., has a mission to deliver innovative software solutions for the digital manufacturing sector. Combining cutting-edge technology with industry expertise, they look to empower businesses by bridging the gap between sales and production teams, fostering smarter manufacturing practices.