, Maryland鈥檚 economic engine for technology companies, announced a recent $250,000 Venture Funds investment in Hememics Biotechnologies, Inc. TEDCO鈥檚 evergreen Venture Funds are dedicated to funding and growing the next generation of early-stage businesses in Maryland.
鈥淚 am excited to be a part of Hememics鈥� mission to transform the future of diagnostics,鈥� said , CEO of Hememics Biotechnologies, Inc. 鈥淭hanks to TEDCO鈥檚 latest investment, we are looking forward to continuing our growth and development. If you鈥檙e an entrepreneur in Maryland looking to flourish, I highly recommend connecting with TEDCO; there are several resources and opportunities the organization can offer 鈥� it鈥檚 so much more than just funding.鈥�
Located in Gaithersburg, Md.,聽聽is a biosensor company working to create a low-cost testing platform for small-molecule detection in the field. By utilizing monolayer graphene technology, the company developed a pocket-sized reader with use-once chips that can detect multiple targets from a single drop of liquid sample. This development can be used to test for drugs of abuse in urine, biotoxins on the battlefield and herbicides.
鈥淚n the past few years, it has become increasingly evident that rapid onsite detection services are not only a convenience but necessary to ensure the safety of the whole ecosystem,鈥� said聽, senior director of聽聽at TEDCO. 鈥淭EDCO鈥檚 recent investment into Hememics provides the company with additional support, allowing them to continue innovating and helping others.鈥�
Prior to this investment, Hememics Biotechnologies received a State Small Business Credit Initiative () investment in聽. The company is also a current member of DefTech, a program that drives the growth of an innovation-based economy in Maryland while providing professional expertise and connections to Federal laboratories for members.
鈥淲ith more than 70 federal laboratories located throughout the state, it鈥檚 no surprise that Maryland was聽聽for the emerging life science hubs across the nation,鈥� TEDCO CEO聽聽said. 鈥淔or up-and-coming entrepreneurial spirits, these assets can be instrumental to their success. This is one reason why TEDCO and other ecosystem collaborators offer opportunities and resources for these startups, allowing them to connect with federal labs, utilize the world-class equipment and hear from other brilliant minds.鈥�
Learn more about TEDCO鈥檚 investment funds at聽.
About TEDCO
, the Maryland Technology Development Corporation, enhances economic empowerment growth 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聽.
