The Maryland Technology Development Corporation (TEDCO) announced today that six companies received a total of $800,000 in seed funding.
“At TEDCO, our mission is to foster entrepreneurship and innovation across all regions of the state and we aim to discover, invest in and build great companies that grow, stay and last in Maryland,” stated TEDCO CEO George Davis. “TEDCO helps entrepreneurs bring innovation to market by being the connective tissue to all available assets in the ecosystem, including capital and business development tools.”
Virtici, LLC announced today the spin-out of a new drug development company, Rise Therapeutics, which is focused on developing microbiome-based, immunological therapies. To form the spin-out, Rise obtained key microbiome-related intellectual property and technologies incubated at Virtici to support the development of first-in-class, orally-delivered, biological medicines.