TEDCO Announces Investment in NanoBioFAB
Maryland healthcare technology company receives additional funding to support their efforts to improve patient outcomes
COLUMBIA, Md. (June 6, 2023) – TEDCO, Maryland’s economic engine for technology companies, announced a recent investment of $350,000 into Tao Treasures LLC, DBA NanoBioFAB, a woman- and minority-led healthcare technology company. The most recent funding for NanoBioFAB comes from TEDCO’s Builder Fund.
This recent investment, combined with previous TEDCO funding, resulted in another opportunity for NanoBioFAB—$550,000 in Phase II enhancement funding from the Defense Health Agency (DHA) SBIR office.
The Department of Defense used the two TEDCO investments to deploy a funding match, providing NanoBioFAB with more support to continue their research and innovation.
“TEDCO is a great resource for entrepreneurs throughout Maryland. From their support, we’ve received additional funding that will support our research and innovations,” said Xiaonao Liu, PhD, founder and CEO of NanoBioFAB. “I highly recommend entrepreneurs and/or small businesses in Maryland take advantage of the amazing resources and opportunities TEDCO has to offer.”
NanoBioFAB, based in Frederick, Md., is a healthcare technology company working to accelerate nanomaterials research and development through cost-effective innovations that can reduce time to market for new sensor products. Through the use of a unique patented technology, NanoBioFAB can provide fast, high throughput 3D nano-printing and screen nanosensors with the capability of detecting gases stemming from skin and breath, while also having the ability to measure pressure, temperature and humidity. In addition, NanoBioFAB provides artificial intelligence (AI)-driven smart sensors for telemedicine and personalized healthcare.
NanoBioFAB has engaged in multiple TEDCO programs over the last few years. Those include the SBIR/STTR Proposal Lab, the Rural Business Innovation Initiative (RBII) grant and pre-seed funding, and the Rural and Underserved Business Recovery from Impact of COVID-19 (RUBRIC) Program.
“NanoBioFAB continues to innovate, creating solutions that could help shape a future of more effective personal health management,” said Jean-Luc Park, senior director of TEDCO’s Social Impact Funds. “TEDCO is glad to support the company’s continued growth in the state.”
TEDCO’s Builder Fund is housed under the umbrella of the Social Impact Funds. These funds are designed to engage and invest in economically underserved entrepreneurs and communities. Through this process, TEDCO works to create an optimized path for companies to receive follow-on funding. For more information about TEDCO’s Social Impact Funds, visit our website here: https://www.tedcomd.com/funding/social-impact-funds.
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 www.tedcomd.com.