TEDCO Fuels Biotech Innovation in Maryland: Key Investments in Two FITCI Client Companies
TEDCO strengthens Maryland’s biotech ecosystem with strategic investments in NEOPATHOLOGY CORP. and Simmbion, LLC, both innovative companies advancing diagnostics and chronic disease treatment within the Frederick Innovative Technology Center (FITCI).
August 29, 2024
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TEDCO, Maryland’s premier economic engine for technology companies, has announced significant investments in two groundbreaking biotechnology companies: NEOPATHOLOGY CORP. and Simmbion, LLC. These investments not only support innovation in rural and urban Maryland but also highlight the pivotal role of the Frederick Innovative Technology Center (FITCI) in fostering the growth of cutting-edge startups.
NEOPATHOLOGY CORP. has received a $25,000 Pre-Seed Rural Business Innovation Initiative (RBII) investment from TEDCO. This investment is aimed at advancing the company’s efforts in developing innovative tissue diagnostics. Based in Frederick, Maryland, NEOPATHOLOGY CORP. recently marked a major milestone by relocating to a dedicated laboratory space within the newly opened FITCI. This state-of-the-art facility offers the ideal environment for NEOPATHOLOGY to drive its translational research and expand its service capabilities.
NEOPATHOLOGY’s proprietary diagnostic process, ONEPATHOLOGY™, seeks to standardize tissue diagnostics using advanced spatial biology-enabling platforms. By improving diagnostic accuracy and reducing errors, the company aims to enhance patient outcomes and expedite the initiation of treatments. TEDCO’s investment will play a crucial role in helping NEOPATHOLOGY bring this innovative platform to market.
“Dr. Aiyetan’s innovative thinking demonstrates the impact of TEDCO’s RBII program in promoting research and development in rural Maryland,” said Karen Zuccardi, Manager of TEDCO’s RBII. “We are excited to support NEOPATHOLOGY’s journey toward success.”
Simmbion, LLC, another FITCI client company, has been awarded a $200,000 Pre-Seed Builder Fund investment from TEDCO. Based in Baltimore, Maryland, Simmbion is focused on revolutionizing chronic disease treatment through its synthetic cell technology. The company’s approach aims to eliminate the need for frequent injections and cold-chain logistics, transforming adherence to biologic therapies for conditions such as diabetes, obesity, and rare genetic diseases.
Simmbion’s innovative synthetic cells, known as Simmbions™, are designed to provide sustained release of therapeutic proteins for up to one year or more, drastically reducing the need for conventional needle-based delivery methods. The company’s initial focus is on commercializing this technology for companion animals, while also advancing treatments for rare human diseases like Gaucher’s disease.
“Simmbion’s cutting-edge research and development are poised to significantly impact the field of synthetic cell technology,” said Jean-Luc Park, Senior Director of Social Impact Funds at TEDCO. “We are proud to support their efforts in advancing Maryland’s technology ecosystem.”
The connection between these two companies extends beyond TEDCO’s investments. Both NEOPATHOLOGY CORP. and Simmbion, LLC are part of the thriving innovation community at FITCI, a hub for entrepreneurial excellence. FITCI’s state-of-the-art facilities and collaborative environment provide the resources and support necessary for these companies to achieve their ambitious goals.
TEDCO’s investments in NEOPATHOLOGY CORP. and Simmbion, LLC underscore the organization’s commitment to fostering innovation and economic growth across Maryland. Through programs like the RBII and Pre-Seed Builder Fund, TEDCO continues to empower technology companies with the tools and funding they need to succeed.
For more information about TEDCO’s programs, visit www.tedcomd.com.
About NEOPATHOLOGY CORP.
NEOPATHOLOGY CORP. is a biotechnology research and clinical diagnostic company based in Frederick, Maryland. The company is dedicated to developing more accurate and rapidly reported tissue diagnostics and assays through its proprietary ONEPATHOLOGY™ process.
About Simmbion, LLC
Simmbion, The Living Medicine Company™, is a veteran-owned company specializing in the development of symbiotic synthetic cells for chronic disease treatment. Based in Baltimore, Maryland, Simmbion aims to revolutionize healthcare with its innovative therapeutic solutions designed to improve quality of life and reduce healthcare costs.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment 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.
About FITCI
Frederick Innovative Technology Center, Inc. (FITCI) is a leading business incubator in Frederick, Maryland, dedicated to supporting the growth and success of science and technology-based startups. FITCI provides a collaborative environment, comprehensive support services, and access to a network of industry experts to help entrepreneurs turn their innovative ideas into successful businesses. Learn more at https://fitci.org/
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