“The Biotechnology Tax Credit is one of our most effective tools for helping Maryland biotech companies attract new investors and bring their innovative medical devices and diagnostics to the commercial marketplace,” said Governor Martin O’Malley. “Increasing funding for the credit is critical as we continue to nurture a healthy Innovation Economy in Maryland.”
BALTIMORE, MD (March 4, 2014) – Governor Martin O’Malley announced today that the State, through the BioMaryland Center, has awarded nearly $1.5 million to seven innovative life sciences companies and one educational institution through its Biotechnology Development Awards program. The companies, which received up to $200,000 each, will use the funding to accelerate the commercialization of a wide range of treatments and technologies; including a device that detects concussions in youths engaged in sports; a tool that takes a minimally invasive approach to mitral valve repair; and a drug to reduce eye injections for macular degeneration. An award was also given to a Johns Hopkins University researcher who is developing a device to lessen certain risks involved with cardiac ablation.
“Because of the better choice to invest in initiatives that create jobs and support our growing Innovation Economy, Maryland is well positioned to expand our global leadership and competitiveness,” said Governor O’Malley. “These awards are critical to ensuring the groundbreaking research being done here in Maryland has the opportunity to move to the commercial marketplace.”
Since its inception in 2010, more than $6 million has been awarded through the program to 32 Maryland life science companies. It is a key component of Governor O’Malley’s Bio 2020 initiative. The BioMaryland Center is part of the State’s business and economic development agency, the Maryland Department of Business and Economic Development (DBED).
“The program already has yielded multiple success stories. Three previous awardees—Gliknik, Telcare, and Unither Virology–collectively have raised more than $100 million after using their biotechnology development award funds to advance the early stages of their technology,” said Dr. Judith Britz, Executive Director of the BioMaryland Center. “We are proud of the work these innovators are doing and anticipate the Center’s investments will help them move their technologies from research to reality.”
Awardees this round include:
AsclepiX Therapeutics, LLC (Baltimore) –a long-lasting drug which would reduce the number of eye injections for macular degeneration and improve patient vision.
Brain Sentry, Inc. (Bethesda) – helmet mounted sensors which detect and count possible concussive injury hits for youth engaged in sports.
Clear Guide Medical (Baltimore) – ultrasound guided technology to make needle biopsy more accurate, faster, and safer.
Cordex Systems, Inc. (Annapolis) –an enhanced blood pressure cuff to measure endothelial dysfunction, the earliest indicator of atherosclerosis.
Harpoon Medical Inc. (Stevensville) – a surgical tool which will enable surgeons to reliably repair the mitral valve using a minimally invasive beating-heart approach.
Otomagnetics (College Park) – a magnetic particle drug delivery system for treatment of sudden hearing loss and eventually common ear infections.
Vasoptic Medical Inc. (Columbia) – a low-cost portable retinal imaging instrument for early diagnosis of diabetic retinopathy affecting 1 in 3 diabetics.
Johns Hopkins University (Baltimore) – a system which assists with securing the puncture site during cardiac ablation therapy to compensate for the beating heart.
BALTIMORE, MD (February 19, 2014) – Faculty researchers from the University of Maryland, Baltimore and Johns Hopkins University were recognized for their groundbreaking research and its impact on human health with 2014 BioMaryland LIFE (Leading Innovative Faculty Entrepreneurs) awards. Maryland Department of Business and Economic Development Secretary Dominick Murray and BioMaryland Center Executive Director Dr. Judy Britz presented the awards to Dr. Jonathan Powell of the Johns Hopkins University Kimmel Cancer Center to further develop a new therapeutic agent for diabetes type II; and to Dr. Eduardo Davila of the University of Maryland, Baltimore for his T-cell based universal immunotherapy platform to fight cancer. First awarded in 2010, the LIFE prizes are two $50,000 grants funded by the BioMaryland Center along with the two universities to help advance research in biotech and biopharma, medical devices, or diagnostics that have the greatest potential for commercial application.
“We are proud to work with our partners at Johns Hopkins and the University of Maryland to create a pipeline of support and assistance that takes the groundbreaking research being done at our world-class universities from the bench to the bedside,” said Secretary Murray. “I want to salute all of today’s faculty presenters for the important role they play in keeping our state on the cutting edge of innovation and discovery.”
Johns Hopkins University ranked first in the nation in research spending among top-ranked research institutions.
Johns Hopkins University ranked first in the nation in research spending among top-ranked research institutions, the Washington Post reports.
The Baltimore-based university spent $2.1 billion on research and development in the fiscal year ending in 2012, including a large portion in biomedical research, according to the article.
Other Maryland institutions—University of Maryland, College Park; University of Maryland, Baltimore; Uniformed Services University of the Health Sciences in Bethesda, Md.; and University of Maryland, Baltimore County—also ranked in the top 200 0f the National Science Foundation’s list.
The BioMaryland Center supports and collaborates with the state’s most prestigious research centers. Under the leadership of executive director Dr. Judy Britz, Ph.D., the center works to bring life sciences innovation “from research to reality,” with the help of tax credits, awards, incubator space and more.
A growing number of firms in the medical device industry call Maryland home. But this week, a select group has ventured across the globe to participate in MEDICA, the world’s leading trade fair for medicine and medical technology.
Between Nov. 20 and Nov. 23, international medical market leaders, including 4,641 exhibitors from 66 countries, are descending on Dusseldorf, Germany for a range of MEDICA events. The BioMaryland Center, through the Maryland Department of Business and Economic Development, is a state exhibitor, promoting Maryland’s medical-friendly business environment and also sponsoring attendance from participating companies.
“It really is a global event. We’re going to have probably over 150,000 visitors to our state booth,” said Carey Esslinger, regional manager over Europe, Russia, FSU, Latin America and the Balkans for Maryland DBED.
Roughly half of the companies are showing in the Maryland booth, while others have “graduated” to become individual exhibitors, Esslinger said.
In recent years, Maryland’s participation in the show has planted the seeds for exporting agreements and foreign investment deals.
“It’s a perfect platform for Maryland companies looking to expand their sales internationally,” Esslinger said. “We have a number of Maryland companies attending the show this year, including manufacturers such as Man & Machine, who design water-proof keyboards used in hospitals, and Tetracore, which has developed a field testing kit for biological agents.”
The state, now considered a regular on the show floor, has developed a global reputation.
“Maryland’s strengths—such as proximity to federal facilities like the FDA, state of the art medical institutions like Johns Hopkins University and a highly educated workforce—are recognized and respected internationally,” he said.
The second annual InvestMaryland Challenge is in full swing. If your business is in need of a jump start, check out this site for more information about the national business competition. The Challenge offers applicants free admission to networking events, social media promotion, scoring and feedback from judges, exposure to venture capital firms and angel investors and the chance to compete for more than $600,000 in prizes. Winners of the Life Sciences, IT, Cybersecurity and General Industry categories will each win $100,000 awards. Others will take home smaller grants, incubator space, consulting services and other cash and in-kind prizes. Applications are due by Dec. 6.
Judges include a distinguished lineup of industry leaders and experts in a variety of fields. Meet a selection of judges below.
Meet The Judges:
Robb Doub joined New Markets Venture Partners in 2003. Robb is the lead administrative partner and serves as a board director for eCoast Sales Solutions and Appfluent Technology, and is lead partner or board observer for K2 Global, Kroll Bond Ratings, Navtrak, Three Stage Media, CSA Medical and TidalTV. He also serves on the board of Egeen International and the Conflicts Advisory Board of the off-shore hedge funds.
Daphne Dufresne joined RLJ Equity Partners from Parish Capital Advisors, where she was a Venture Partner managing the direct investment and co-investment program. Formerly, Ms. Dufresne was a Principal at Weston Presidio Capital with $3.4 billion of assets under management. She also served as Associate Director in the Bank of Scotland’s Structured Finance Group. Ms. Dufresne received her B.S. from the University of Pennsylvania and her M.B.A. from Harvard Business School.
CHRISTY WILLIAMS WYSKIEL
Christy Williams Wyskiel is an entrepreneur and investor with 20 years of experience focused on the life sciences and healthcare industries. Previously, Christy was Managing Director at Maverick Capital, an equity hedge fund with $12 billion under management. She co-founded GrayBug, an ophthalmic drug-delivery company. In 2012, Christy joined the Johns Hopkins Alliance, a board charged with evaluating the commercial viability of research projects at JHU.
FREDERICK J. FERRER
Frederick J. Ferrer has over three decades of experience in the National Security, Intelligence Community (IC), Homeland Defense and Cyber. Mr. Ferrer holds a Master’s of Science in Strategic Intelligence from the National Intelligence University and serves in a number of leadership capacities, including the Maryland Commission on Cybersecurity Innovation and Excellence; National STEM Consortium Advisory Committee; and Chesapeake Regional Tech Council.
As the Executive Director and President of the Emerging Technology Center in Baltimore, Ms. Tillett is responsible for management of budgetary, administrative, programmatic functions and strategic planning. Prior to joining ETC, Ms. Tillett served as president and co-founder of Immersive 3D, LLC, a technology start-up providing web-based 3D computer gaming solutions for K-20 education and offering contract-based technology services.
BALTIMORE, MD (August 26, 2013) – Governor Martin O’Malley today joined with Montgomery County Executive Isiah Leggett and City of Frederick Mayor Randy McClement to announce the expansion of a Montgomery County life sciences company which plans to add new jobs in Montgomery and Frederick counties over the next several years. Precision for Medicine, a leading provider of specialized services, technology and infrastructure for life sciences companies, will consolidate and expand its headquarters in a new location in Bethesda and will also expand its operations in the City of Frederick to be used for biorepository and lab operations. In total, the company will retain 81 jobs, and will create 170 new jobs between the two locations.
“By working with our partners in Montgomery County and the City of Frederick as well the leadership of Precision for Medicine, we are preserving 81 jobs, creating 170 new jobs and ensuring that this company will continue to grow and invest in Maryland,” said Governor O’Malley. “Our most important priority continues to be creating and retaining the kinds of highly-skilled, innovative jobs that will help sustain Maryland’s economy for today and for decades to come.”
“Today’s announcement that Precision for Medicine will remain and expand in Montgomery County is exciting news, and reinforces why we are one of the top biotech clusters in the country,” said County Executive Leggett. “By strategically partnering with the State of Maryland and the City of Frederick, we show the regional and national business community that Montgomery County and Maryland are indeed business friendly and stand ready to assist companies who have demonstrated their ability and desire to grow here and add coveted, knowledge-based jobs to our local economy.”
Baltimore, MD (June 26, 2013) – The BioMaryland Center, a part of the Maryland Department of Business and Economic Development (DBED), today announced that early-stage biotechnology companies and individual investors have until Friday, June 28 to submit an application to be considered for the first round of up to $10 million in Maryland Biotechnology Investment Incentive Tax Credits (BIITC) for FY 2014. Following the application process, a user name and pin number will be given to access the electronic submission for the first queue on July 8. To access an application and for more information on the application process, click here.
The Maryland Biotechnology Investment Incentive Tax Credit program provides tax credits to promote private investment in qualified Maryland biotechnology companies. Since it was first funded in FY 2007, it has stimulated investment of more than $90 million in qualified Maryland biotech companies, with more than 60 companies taking advantage of the program. It is a key part of Governor Martin O’Malley’s BioMaryland 2020 plan, the 10-year, $1.3 billion strategy for moving the State’s life sciences industry forward, stimulating investment in targeted fast-growth businesses and encouraging creation and retention of intellectual property in Maryland. The BIITC also helps to position Maryland as a global life sciences powerhouse. Since 2007, Governor O’Malley has steadily increased funding for the popular program, which is now funded at $10 million for FY 2014.
This image was taken by a polar-orbiting NOAA/NASA satellite on Feb. 10, 2013, as the historic New England snowstorm headed out into the Atlantic. Credit: NOAA Environmental Visualization Lab
Incorrect weather data may leave you without an umbrella on a rainy day, but its effects can also be far more severe.
“Maybe you’re left unprepared for the next hurricane, maybe life is lost or property is damaged, maybe the crops aren’t watered on time. Accurate weather data is really crucial to have,” said Samir Chettri, a program manager at Global Science & Technology.
Over the next five years, GST will provide technical and engineering services associated with the Joint Polar Satellite System, NOAA and NASA’s next generation of polar-orbiting satellites. The JPSS-1, the program’s second polar-orbiting satellite space craft, is scheduled to launch in early 2017.
Rachel King, co-founder and CEO of GlycoMimetics in Gaithersburg, has been named chair of the Maryland Life Sciences Advisory Board.
ANNAPOLIS, MD (June 5, 2013) – Governor Martin O’Malley today announced that Rachel King, co-founder and CEO of GlycoMimetics in Gaithersburg, has been named chair of the Maryland Life Sciences Advisory Board (LSAB). King will replace chair H. Thomas Watkins, former President and Chief Executive Officer of Human Genome Sciences, Inc., who has served on the Board since Governor O’Malley and the Maryland General Assembly created it in 2007. As chair, Watkins led the Board through a strategic planning process that, working closely with Governor O’Malley, resulted in BioMaryland 2020, a 10-year, $1.3 billion strategy for moving Maryland’s life sciences industry forward.
“I want to commend Tom for leading the effort to develop a comprehensive plan that has helped position Maryland as a global leader in the life sciences. To date, we have invested more than $600 million in initiatives that create jobs and expand opportunity for decades to come,” said Governor O’Malley. “We are equally fortunate to have someone of Rachel’s caliber as our new chair, as well as a board comprised of some of the State’s most skilled and talented scientists, educators and business professionals to help us grow our Innovation Economy.”
“It was an honor to serve as Board chair and work with many dedicated colleagues and industry leaders to maximize Maryland’s tremendous life sciences assets and build a roadmap for the industry’s future,” said Watkins. “I also want to thank Governor O’Malley for his vision for the life sciences in Maryland and for his continued support, which has resulted in making our State one of the top science and technology states in the country.”
BALTIMORE, MD (June 4, 2013) – Governor Martin O’Malley announced today that the State, through the BioMaryland Center, has awarded nearly $1 million to five innovative life sciences companies through its Biotechnology Development Awards program. The companies, which received up to $200,000 each, will use the funding to advance the early detection of Alzheimer’s disease, create a less-invasive treatment for tachycardia patients, enhance animal analgesics, control traumatic bleeds and develop high-quality gluten and allergen-free kosher food products.
“These companies are developing products that are changing the way we feed, fuel and heal our planet and have the potential to impact millions of patients around the world,” said Governor O’Malley. “These awards are critical to ensuring that the life-saving research being done here in Maryland has the opportunity to move to the commercial marketplace.”
Moscow, Russia and Baltimore, Maryland are separated by language, culture and nearly 6,000 miles, yet similarities emerge within each city’s concentration on the life sciences industry.
Thanks to a recently signed memorandum of understanding between Russia’s Pushchino BioTech Cluster and the BioMaryland Center, common ground between life sciences companies in Maryland and regions across Russia is expected to grow. The Pushchino district, in the suburbs of Moscow, represents Russia’s second largest in terms of academic research, with 100 laboratories and 2500 research scientists working in the field of biotechnologies and bio-pharmacology. Likewise, Maryland is home to more than 500 life sciences companies, 59 federal labs and several additional academic and research institutions.
Innovation Working Group members—led by the Russian Deputy Minister of Economy Oleg Fomichev and Special Representative for Business and Commerce of the U.S. Department of State Lorraine Hariton—gathered on April 26 to visit the University of Maryland, College Park and the University of Maryland, Baltimore BioPark to explore opportunities for collaboration. They were joined by leaders from the Pushchino BioTech Cluster, several representatives of Maryland and Russia biotech firms and Evgeny V. Chuprunov, the rector of Lobachevsky State University of Nizhni Novgorod.
Dr. Bruce Jarrell, Chief Academic/ ResearchOfficer, Senior Vice President and Dean of the Graduate School of the University of Maryland, Baltimore; and Dr. Mary Ann Rankin, Provost and Senior VP for Academic Affairs, welcomed the delegation. Dr. E. Albert Reece, MD, PhD, MBA, Vice President for Medical Affairs, University of Maryland, Distinguished Professor, and Dean UMD School of Medicine also spoke to the delegation during a special reception.
The program on April 26 included several presentations and tours of the BioPark facility and Maryland Forensic Medical Center.
“We are very pleased to welcome the Innovation Working Group to Maryland, and have the opportunity to showcase our world-class universities and expanding life science community, as well as share approaches to economic development,” said Dr. Judith Britz, Executive Director of the BioMaryland Center, said in a statement. “As a global bioscience leader, Maryland is looking forward to collaborating with the Pushchino BioTech Cluster to identify opportunities for partnering together on joint research and economic development initiatives.”
“We are very elated to see that one of the Innovation Working Group initiatives has come to fruition,” Svetlana Infimovskaya, Deputy Executive Director, Association of Innovative Regions of Russia, said in a statement. “Collaboration of Pushchino BioTech Cluster and BioMaryland Center will open an opportunity to join efforts in research and economic development.”
“We are proud to have the BioMaryland Center and Pushchino as partners in the U.S.-Russia Innovation Working Group,” Lorraine Hariton, Special Representative of Commercial and Business Affairs of the U.S. Department of State, said in a statement. “These types of partnerships between regions in the United States and regions in Russia exemplify the very best of the Bilateral Presidential Commission. We hope that the BioMaryland Center-Pushchino memorandum of understanding will serve as a model for other regions.”
Find highlights from program’s presentations in the above video.