Funding Enables Six Commercial Biotechnology Product Projects
COLLEGE PARK, Md., April 27 /PRNewswire-USNewswire/ -- The Maryland Biotechnology Center, the State of Maryland's portal to programs and resources intended to grow and strengthen the state's bioscience community, has enabled biotechnology product development projects to be funded through the Maryland Industrial Partnerships program through $270,000 in support.
The Center recently signed off on initial funding for three projects. Each was in the second year of a two-year (phase 2) project. Three additional first-year projects were also made possible by freeing up MIPS funds to support them.
"As Maryland's resource center for growing and strengthening the state's bioscience community, one of the Maryland Biotechnology Center's charters outlined by Governor Martin O'Malley in his 2009 BioMaryland 2020 strategic plan is to provide funding to assist companies with late-stage commercialization objectives," says Judy Britz, the Center's executive director. "MIPS has a proven process for evaluating viable research projects and a strong history of successfully helping biotechnology companies develop commercial products, so by supporting MIPS, we are fulfilling part of our charter and are boosting key contributors to the growth of the state's bioscience cluster."
MIPS teams Maryland companies with faculty from the University System of Maryland to help the companies develop high technology, biotechnology, or technology-related agricultural products. Companies provide matching funds to help pay for the projects. All funding goes to participating fac
|SOURCE Maryland Technology Enterprise Institute|
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