[May 20, 2016]

TEDCO Approves $8.4 Million in New Stem Cell Research

The Board of Directors of the Maryland Technology Development Corporation (TEDCO) has approved the Maryland Stem Cell Research Commission's recommendation to fund 26 new research proposals totaling $8,406,269.

The newly-funded research projects show promise for contributing to cures for a wide range of debilitating diseases and conditions, including heart failure, stroke, multiple sclerosis, vascular diseases, Parkinson's Disease, schizophrenia, autism spectrum disorders, and cancer.

"We were very impressed with the quality of the applications for these important research grants," adds Rabbi Avram Reisner, Chair of the Maryland Stem Cell Research Commission. "Each of these awardees represents one of the keys to the future of regenerative medicine."

Established by the Governor and the Maryland General Assembly through the Maryland Stem Cell Research Act of 2006, the Maryland Stem Cell Research Fund (MSCRF) promotes State-funded stem cell research and cures through grants and loans to both public and private entities in Maryland.

Both the Maryland Stem Cell Research Commission and MSCRF are administered by the Maryland Technology Development Corporation (TEDCO), the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market.

To date, more than $120 million has been committed to 349 research projects through the Maryland Stem Cell Research Fund.

This year's MSCRF awards include:

• 1 Pre-Clinical Research Award: Designed for companies conducting pre-clinical research in Maryland that seek to advance medical therapies in the State, this award of $750,000 is presented to BioCardia, Inc. for heart failure trials.
li > 7 Investigator-Initiated Research Awards: Totaling $4,594,394, these grants are designed for Maryland investigators who have preliminary data to support their hypotheses.
• 10 Exploratory Research Awards: These awards, totaling $2,181.875, are designed for researchers who are new to the stem cell field or for exploratory projects that have little or no preliminary data.
• 8 Post-Doctoral Fellowship Awards: Totaling $880,000, these awards are designed for post-doctoral fellows who wish to conduct human stem cell research in Maryland.

The Maryland Stem Cell Research Fund (MSCRF) was established by the State of Maryland under the Maryland Stem Cell Research Act of 2006 to promote State-funded stem cell research and cures through grants and loans to public and private entities in the State. Administered by The Maryland Technology Development Corporation (TEDCO), the MSCRF is overseen by an independent Commission that sets policy and develops criteria, standards and requirements for applications to the Fund. To date, over $120 million and 349 research grants have been committed. For more information about the Maryland Stem Cell Research Fund and a list of Commission members, please visit www.mscrf.org.

The Maryland Technology Development Corporation (TEDCO) is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market. For more than 18 years, the organization has provided funding, mentoring and networking opportunities to support Maryland's innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments and manages private capital for angel and venture capital funds. It is frequently ranked as one of the most active seed/early-stage investors in the nation. The organization plays a key role in bringing research created in Maryland's educational institutions and federal laboratories into the commercial marketplace. For more information on TEDCO and its programs and resources, visit www.TEDCO.md.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160520005586/en/

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