The BioHealth Capital Region (BHCR) continues to establish itself as the go-to hub for biotech startups and corporations. As we previously reported, BHCR startups secured important investment in 2019, including venture funding and IPOs of more than $739M in total investment raised. To keep the momentum strong and ensure that BHCR startups are set up for success, our region must develop and implement a robust infrastructure and network that enables innovative ideas to progress from research and invention to market commercialization.
The Maryland Department of Commerce joined eight local colleges and universities in endowing a total of $21.2 million to fund a dozen new research professorships. The endowments were made through the Maryland E-Nnovation Initiative (MEI), a state program created to spur basic and applied research in scientific and technical fields at the colleges and universities. The schools raised a total of more than $10.6 million in private funding for each chair and Maryland Commerce approved matching grants of $10.6 million to support the endowments.
National Science Foundation Issues Small Business Innovation Research (SBIR) Grant to The Wrightguard Innovations Corporation in Support of Novel Mouthguard Technology
The WrightGuard Innovations Corporation (TWGIC), a University of Maryland, Baltimore (UMB) startup company developing smart mouthguard technology designed to protect athletes, announced today that the National Science Foundation (NSF) has awarded the company an SBIR grant totaling more than $250K.
University of Maryland, Baltimore (UMB) Grants Pumas-AI Exclusive License of Analytics Platform to Enhance Drug Development
Pumas-AI, a University of Maryland, Baltimore (UMB) startup company, has been granted worldwide, exclusive rights to enhancements to Pumas, an end-to-end pharmaceutical modeling and simulation platform for quantitative analysis across the drug development lifecycle. Pumas 2.0 builds on the company’s existing platform, which also employs technology licensed from UMB.