By: Angel Boardley – Ecosystem Development Fellow
BioBuzz hosted its “Insights to Impact” panel discussion, Maryland’s Next Decade in Life Sciences, at 4MLK by Wexford in Baltimore, Maryland. The Insights to Impact series explores the intersection of AI and biotech through case studies, thought leadership, and real-world insights—offering a survival guide for navigating the rapidly evolving biotech industry. This event brought together ecosystem leaders—including founders, investors, strategists, educators, and scientists—to explore what it will take for Maryland to lead the U.S. biotech and life sciences sector by 2035.
The conversation examined how the region’s past decade of growth, paired with global shifts in innovation, manufacturing, and investment, sets the stage for a new phase of acceleration. Panelists included Dr. Matt Tremblay – CEO of Blackbird Laboratories, Dr. Murat Kalayoglu Co-founder of Cartesian Therapeutics, Tom Osha – Executive Vice President of Wexford Science & Technology, and Dr. Eric Van Gieson – CEO of EPOCH Epigenetics. The discussion was moderated by Pel Ozel, a Neuroscience Ph.D. Candidate at Johns Hopkins School of Medicine—an intentional decision to elevate the voice of an emerging scientist and reflect the next generation of leaders driving the region’s future. Together, the panel delivered an unfiltered and future-facing conversation on how Maryland can anchor itself as a national and global life sciences leader.
“I particularly appreciated the nature of the panel’s responses… the optimism that they shared about the future of science, especially in the Baltimore area. It’s not to say that it’s going to be easy, but I found it inspiring that they see these changes as a chance to break down silos and make VC funding more efficient.” — Frederick Holtsberg, CSO, Integrated BioTherapeutics
A few key takeaways from the panel discussion included insights on funding trends, talent development, the role of Mary’s Higher education ecosystem, Baltimore’s cost advantages, and global forces shaping the region’s future.
A Surge of Investment Is Fueling Baltimore’s Biotech Future
Matt Tremblay, CEO of Blackland Laboratories, described how a single phone call from a family office led to a game-changing financial commitment for Baltimore’s life sciences ecosystem. “They felt that the raw ingredients were here to catalyze more biotech activity,” he said, “but that additional capital… could supplement the ecosystem-building work already happening.”
That call resulted in a $100 million philanthropic commitment from the Mashadi family to fund translational research emerging from labs at Johns Hopkins, the University of Maryland, and other Maryland higher education institutes. Just as impactful, Tremblay noted, is a $500 million downstream venture fund earmarked to invest in companies growing out of this ecosystem—“not just companies we’re involved in helping to create, but other companies” as well.
In a market where biotech timelines often exceed a decade, Tremblay emphasized the rare value of this long-term capital:
“It’s hard to build long-lasting value—especially in pharma, where products take 10 years to develop—when you’re navigating waves that have a two- or three-year periodicity. That’s why the idea of financial backing with a decade-long time horizon is so important.”
He concluded that while he spent years in San Diego and the Bay Area, “I hadn’t come across this kind of collective vision there.” In Baltimore, it’s starting to take shape.
Talent Pipelines Are More Critical Than Capital
A thriving life sciences ecosystem demands more than capital—it needs a steady flow of bold thinkers who are ready to build. The panelists agreed: Baltimore’s proximity to top-tier universities gives it a clear edge, but unlocking that advantage means embedding students and researchers more directly into the startup world.
“The primary benefit there is a talent pool—particularly folks graduating with technical backgrounds who are early enough in their careers to take some risk in the world of entrepreneurship,” – Murat Kalayoglu. “Just mechanically absorbing what it feels like to be in that environment… that’s amazing.”
This type of exposure—through fellowships, internships, and immersive experiences—can reshape how students and PhDs view their own career trajectories. Instead of purely academic or corporate tracks, young scientists are starting to view startups as places for growth, experimentation, and impact.
Kalayoglu emphasized the importance of structure and mentorship in making that possible:
“The question is whether we have enough of the executives—enough of the founder-managers—that can provide that nexus… serve as the glue that allows newly minted PhDs, for example, to take the plunge.”
Another provocative point: academia itself may need to evolve. Traditional tenure systems could be reimagined to reward innovation and commercialization alongside publishing:
“If the Maryland region could engage with educational institutions to change the emphasis on tenure… and also focus on how many companies you’ve spun out, how many of your technologies have been used in the real world—that would absolutely change the game.” – Eric Van Geison
The takeaway? Baltimore is already rich with scientific minds. The next step is ensuring they see clear, supported on-ramps into entrepreneurship—while simultaneously creating incentives for academic institutions to embrace innovation and translational science as core to their missions.
Transforming Academia: Building Innovation Around Universities
The future of Baltimore’s biotech success hinges on unlocking the full potential of its universities—not just as research engines, but as co-creators in commercialization, entrepreneurship, and regional economic development.
As Tomorrow Osha noted, the academic landscape is already undergoing a profound shift:
“Institutions are probably going to need to diversify their revenue. What does that mean? That means bringing companies in earlier… from experiential learning to sponsored research to opportunities to do co-development.”
This rethinking of academic roles—blending education, entrepreneurialism, and discovery—can fuel earlier translational research and tech transfer:
“We’re seeing more of that mindset of a blending of, ‘Hey, let’s get to the people who are doing discovery, who are also educating people,’ so we can change the mindset much more towards translational development, product development.”
Baltimore’s proximity to leading universities, federal labs, and mentorship infrastructure gives it a unique advantage to embed venture-readiness into the academic experience itself:
“There’s a CEO… who started with an idea in grad school… now on the precipice of regulatory approval… before the age of 30. The more we can see that kind of thing happening, that’s the new way of things.”
If universities embrace this new model—with early corporate collaboration, applied research, and entrepreneurial exposure woven into the fabric of education—Baltimore may not just grow life sciences companies, but cultivate the next generation of founders from its classrooms.
Global Trends Are Reshaping U.S. Biotech Strategy
Tom Osha, Executive Vice President of Wexford Science + Technology, outlined how major global shifts are redefining biotech strategy in the U.S.—and why Baltimore is uniquely positioned to adapt.
“In the last 10 years, there have been three seismic shifts: a physical shift in how we think about innovation spaces, a full reset of VC life sciences investment, and the lasting impact of COVID on work, strategy, and power dynamics.”
Osha emphasized that the pandemic exposed the fragility of global supply chains and accelerated a broader nationalist policy trend. He explained that countries like Denmark, the U.K., Israel, and Australia are all moving away from globalization toward sovereign innovation priorities:
“We’re seeing a rise of nationalist policy… People are now thinking not about global partnerships and supply chains, but about bringing them back—for national security and national power.”
He warned that unless the U.S. is proactive, it risks losing its competitive edge in life sciences, just as it once did in manufacturing and telecom:
“We’re seeing invention and technological progress in Asia—not just fast copying and reverse engineering. If we are not careful, we’ll lose our edge in life sciences the same way we lost it in other sectors.”
For Baltimore, these shifts highlight the importance of anchoring manufacturing locally, securing intellectual property, and aligning regional strategy with long-term national interests—not just rapid market entry.
Baltimore’s Cost Efficiency Is a Strategic Advantage
In an era of tighter capital and sharper scrutiny around burn rates, Baltimore’s affordability isn’t just a lifestyle perk—it’s a strategic asset for life sciences innovation.
Panelists pointed out that capital efficiency is becoming a core value in today’s venture landscape, especially for early-stage companies. Investors are recalibrating expectations, with a growing preference for lean operations and thoughtful spending.
Baltimore’s lower cost of doing business becomes a powerful differentiator. From talent acquisition to lab space, startups in the region can stretch their funding significantly further than in legacy hubs like Boston or the Bay Area.
“It’ll cost half as much to do it in Baltimore,” another panelist noted. “Even the folks who were responsible for the ginormous headlines of the last five years are starting to realize that everyone just needs to tamp it down—not stop innovating, but stop the insanity.”
This mindset shift isn’t just theoretical. Baltimore-based startups are already benefiting from this dynamic—partnering with investors who are seeking quality science without the overhead of inflated cost structures.
“We syndicated a deal with a Boston-based VC household name… their finance guy came in with a 2021-style budget. The partners were like, ‘What are you doing? You know where you are, right?’” – Matt Tremblay
As more investors realize that sustainable innovation doesn’t require a $1M/year lease or an immediate 30-person headcount, regions like Baltimore are positioned to shine. With its cost advantage and growing infrastructure, it offers an attractive landing pad for startups—and a smart bet for venture capitalists looking for more than just brand-name zip codes.
This event—and the broader Insights to Impact series—would not be possible without the institutions committed to shaping Maryland’s biotech future. Organizations like ASCEND-ABL, CRB, Fulton Bank, Heffron, The Henry M. Jackson Foundation (HJF), InfoPathways, Project Farma, QIAGEN, TEDCO, and WorkForce Genetics—make these meaningful conversations and connections possible.
The next session in this invite-only series will take place in September at the Henry M. Jackson Foundation. Reach out to the event organizers to learn more or explore whether you’re eligible to attend.
