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TEDCO Awards Grant to BridgePath Scientific

COLUMBIA, Md. (July 23, 2008) – The Maryland Technology Development Corporation (TEDCO), in collaboration with the U.S. Army Medical Research and Materiel Command (USAMRMC) and the Frederick County Office of Economic Development (OED), today announced that two companies have been awarded a total of $100,000 in funding through the Ft. Detrick Technology Transfer Initiative (FDTTI). Theradigm, Inc., and BridgePath Scientific, LLC, which each received $50,000, are the first companies to receive funding through the program’s $750,000 extension of FDTTI. Through FDTTI, TEDCO works with the USAMRMC to maintain awareness of new and developing technologies, as well as develop effective strategies for the transition of successful projects to follow-on funding. Funding for the program’s second phase was secured by Sen. Barbara A. Mikulski and Rep. Roscoe G. Bartlett. The initial phase of the FDTTI program, which was announced by Sen. Mikulski in March 2005, provided funding for 11 companies and entrepreneurs. TEDCO, the USAMRMC, and Frederick County OED work to efficiently manage the proposal funding, reporting and transition phases of projects; and coordinate with the Ft. Detrick Business Development Office to increase procurement opportunities for small businesses. “I am working in the United States Senate to make our economy stronger, make America smarter and make our troops and our communities safer – that’s what TEDCO stands for as well,” said Sen. Barbara A. Mikulski. “TEDCO is an anchor tenant of Maryland’s 21st century economy. I am so proud to have fought for this federal investment.”

“Maryland is fortunate to be home to Ft. Detrick and some of the most promising technical innovations in the country,” said Governor Martin O’Malley. “I applaud the Maryland congressional delegation for supporting and funding such an important program. FDTTI and other TEDCO initiatives ensure that these advancements benefit not only Marylanders, but all Americans.” TEDCO works with the USAMRMC to maintain awareness of new technologies in the pipeline; develop effective strategies for the transition of successful projects to follow-on funding; efficiently manage the proposal funding, reporting and transition phases of projects; and coordinate with the Ft. Detrick Business Development Office to increase procurement opportunities for small businesses. “The FDTTI extension allows companies like Theradigm and BridgePath Scientific to further develop their technologies, and it fosters important relationships with Ft. Detrick for many Maryland companies,” said Renée Winsky, president and executive director of TEDCO. “A great amount of progress in assessing and addressing the needs of the U.S. Army was made through the first round of FDTTI funding. TEDCO looks forward to tracking the future success of this important program.”

Theradigm, Inc., located in Baltimore, is a portfolio company of Toucan Capital Fund II, and is developing cell-based therapies for the treatment of Central Nervous System (CNS) disorders. Two different types of cells, neural stem cells and bone marrow stromal cells, may be applied alone or in combination to constitute unique therapies. Theradigm has a substantial intellectual property base covering use of these cells in CNS applications. BridgePath Scientific, LLC, located in Frederick, Md., is a Maryland-based biotechnology company that assists private and publicly-funded researchers and companies with preclinical development of pharmaceuticals, vaccines and research tools. The company’s service offerings include recombinant protein, antibody, antigen and virus production from multiple cell types (including mammalian, insect, and bacteria). Additional services provided include antibiotic assessment, cell-based assay development, endotoxin testing and quality control assurance needs.

“We are pleased that the first two grants have been awarded through the second round of FDTTI funding,” said Paul Mele, director of the Office of Research Technology Applications at the USAMRMC. “We take great pride in watching our initial research filter into the mainstream marketplace and are eager to see the results of the second round of FDTTI funding.”

White paper concept documents for the FDTTI program are accepted continually and are the preliminary step to finding a USAMRMC collaborator, a requirement to submit a proposal. For more information on the FDTTI program, visit http://www.marylandtedco.com/tedcoprograms/fdtti.cfm.

The Maryland Technology Development Corporation (TEDCO), an independent entity, was established by the Maryland General Assembly in 1998 to facilitate the creation of businesses and foster their growth in all regions of the State. TEDCO’s role is to be Maryland’s leading source of funding for seed capital and entrepreneurial business assistance for the development, transfer and commercialization of technology. TEDCO connects emerging technology companies with federal laboratories, research universities, business incubators and specialized technical assistance. For the fourth consecutive year, TEDCO was recognized as the most active early/seed stage investor in the nation in the July 2007 issue of Entrepreneur Magazine. For more information on TEDCO and its programs and resources, visit www.MarylandTEDCO.org.

The Frederick County Office of Economic Development’s (OED) mission is to support, retain and foster the growth of existing businesses in Frederick County and attract new businesses that bring career opportunities that enable Frederick County citizens to work where they live.
The U.S. Army Medical Research and Materiel Command is the Army’s medical materiel developer, with lead agency responsibility for medical research, development, and acquisition; medical information management and information technology; medical logistics management; and health facility planning. The USAMRMC’s expertise in these critical areas helps establish and maintain the capabilities the Army needs to fight and win on the battlefield.

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