TEDCO Closes Out 2022 with Over $1M Investments in Five Maryland Medtech Companies

As Maryland continues to blossom as a medtech powerhouse, TEDCO has played an instrumental role in providing capital, resources and mentorship. This was especially true in Q4 2022, where TEDCO invested over $1 million combined into LASARRUS, Linshom Medical, NanoBioFAB, CoolTech and Mi-Helper.

Let’s take a quick look at some of these companies and learn more about what they’re working toward.

LASARRUS – Wearable Multimodal Physiological Sensor for Chronic Disease Monitoring

Baltimore, Maryland
TEDCO Investment: $100,000

Currently, chronic obstructive pulmonary disease (COPD) affects over 16.4 million people in the United States alone. With this, a staggering 24% of patients will be readmitted to hospitals due to the severity of their symptoms. There’s a clear need to develop a monitoring system to minimize the need for hospitalization.

LASARRUS has developed the world’s first wearable multimodal physiological sensing system utilizing the company’s patented WearME wearable solution. Through these comprehensive cardiopulmonary assessment parameters, the team hopes to reduce hospitalization costs and readmission rates, with a primary focus on patients with COPD.

“We’re excited to support LASARRUS in the growing wearable medical device industry,” said Jean-Luc Park, senior director of social impact funds, TEDCO, in a statement. “Medical devices like WearME provide users and their doctors with comprehensive datapoints about the patient’s body and should make great strides at improving the health data collection process.”

Linshom Medical – Continuous Predictive Respiratory Monitoring

Ellicott City, Maryland
TEDCO Investment: $300,000

The financing supports the startup’s respiratory sensor technology that is designed to provide continuous predictive respiratory monitoring. Linshom developed a device aimed at providing the same quality respiratory profile found in hospital critical care units. The device, dubbed the Linshom Respiratory Sensor and Monitor, is designed to offer continuous monitoring in patients who are at risk for serious respiratory complications but are not considered critical care.

The device provides a respiratory profile including respiratory rate (RR), tidal volume (rTV) and seconds since last breath (SSLB) that are all delivered continuously and in real time. The system enables rapid response from health care teams for patients who experience a severe respiratory event that has the potential to become catastrophic.

Ric Hughes, chief executive officer of Linshom Medical, said approximately two million codes occur in hospitals each year that are avoidable. “Our sensor is a non-invasive device that solves this disconnect between standard of care and patient needs for continuous predictive respiratory monitoring (CPRM),” he said in a brief statement. “With CPRM clinical teams gain advance notice of respiratory decline where action can be taken to avoid complications and patient injury.”

NanoBioFAB – Accelerating Nanomaterial R&D Through High-Throughput Nano-Printing Technologies

Frederick, Maryland
TEDCO Investment: Undisclosed

NanoBioFAB is a woman-owned medical device manufacturer with a goal of reducing time to market for new sensor products. The company’s claim to fame is an AI-powered high-throughput 3D nano-printing synthesis and screening platform. According to the company’s website, “Our unique super inkjet printer allows high-precision mixture from eight nano precursor ink cartridges to create nanomaterial with every possible composition.  The printer can make up to one million material per hour and submit it to high-speed screening robots to identify the best nanomaterial for industrial applications, such as biosensors and catalysts.”

Through this technology, NanoBioFAB can vastly accelerate the time it takes to get nanomaterials and sensor products to healthcare professionals, the military, and other sensor vendors. In addition, the company also provides AI-driven smart sensors to improve telemedicine and personalized healthcare capabilities.

NanoBioFAB is no stranger to TEDCO, having engaged in several programs over the past few years that include the SBIR/STTR Proposal Lab, the Rural Business Innovation Initiative (RBII) grant and pre-seed funding, and the Rural and Underserved Business Recovery from Impact of COVID-19 (RUBRIC) Program.

CoolTech – Drug-free Devices for Temperature Management and Neuromodulation

Baltimore, Maryland
TEDCO Investment: $200,000

CoolTech has created a patented platform technology that leverages the power of evaporative cooling using dry room air flowing across a tissue to remove energy. The company’s first product, CoolStat®, is a portable, easy-to-use device poised to disrupt the field of temperature management, including targeted temperature management (TTM) after traumatic events such as a stroke or brain injury.

“CoolTech is leveraging its patented platform to develop novel therapies such as transnasal evaporative cooling for temperature management and thermodynamic neuromodulation for migraine and other pain disorders.  Without using drugs or chemicals, we drive results with lower costs and virtually no side effects,” said CoolTech CEO, Steven Schaefer, in a statement.

Mi-Helper – Drug-free Treatments for Migraines and Other Pain Disorders

Ellicott City, Maryland
TEDCO Investment: Undisclosed, part of $4M close in Series A round

TEDCO participated in a $4 million close in Mi-Helper’s $7 million Series A round. CoolTech also participated in the round and has established a partnership with the company. Under the license agreement between CoolTech and Mi-Helper, Inc., Mi-Helper® will have the exclusive right to develop and commercialize CoolTech’s patented technology for thermodynamic neuromodulation for pain (including migraine) and mood disorders.

Mi-Helper will be used exclusively in the Pain & Mood Disorder Field, particularly as a non-invasive, drug-free therapy to treat migraines at home. The device, which is about the size of a continuous positive airway pressure (CPAP) device, delivers an on-demand stream of dry air mixed with a fine saline mist into the patient’s chosen nostril which gently exits out the other nostril. The Mi-Helper can be used whenever the patient feels the symptoms of a migraine coming on.

Kicking the Year Off Strong

Barely a week into the new year, we’re already seeing TEDCO race out of the gate, having just announced yet another medtech-related investment – $100,000 in SeeTrue Technology, a women-led company building a technology that reduces needle clogging in injections. We’re eager to see what medtech companies will be on the rise in the new year!

Want to see more of the incredible medtech companies in the BioHealth Capital Region? Be sure to also check out the BioTools and MedTech Innovator event, coming to Maryland March 28-30, 2023.

Co Authors :