MII selects CBID projects for TEDCO Award
December 20, 2012
CBID projects receive almost $200,000 from the Maryland Innovation Initiative (MII) to continue project development. The two awards will be administered by the Maryland Technology Development Corporation (TEDCO). BOSS Medical LLC, was awarded $99,860 to continue its work on a device for minimally-invasive bone graph surgery and Dr. Edith Gurewitsch Allen, Associate Professor, JHU School of Medicine, was awarded $99,818 to continue research on an umbilical cord blood collection device.
Both BOSS and Dr. Gurewitsch’s project emerged from the Center for Bioengineering Innovation & Design (CBID) at Johns Hopkins University. CBID, the innovative new program launched by the Johns Hopkins Department of Biomedical Engineering, brings together clinicians, engineers and scientists to solve important clinical challenges. “This new TEDCO program provides critical gap funding to move these great innovations into startups that will grow Maryland’s medtech commercial ecosystem,” says Youseph Yazdi, Executive Director of CBID. “Without it, many of these ideas may not realize their potential to save lives and create jobs in Maryland.”
Dr. Elliot McVeigh, Director of the Department of Biomedical Engineering commented “The investment that the School of Engineering and the BME department has made in translational technology development, through CBID, is really paying off with important new solutions to unmet clinical needs. This funding comes at an ideal time to bridge the gap for these projects from very early technology into local medtech startups.”
MII was created by the Maryland General Assembly to promote the commercialization of research in five qualifying Maryland universities, including Johns Hopkins, and to encourage partnerships on commercialization proposals, strategies and funding sources. TEDCO is an independent entity that makes seed/early-stage investments to bring the research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace.
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