TEDCO Invests in PediaMetrix
Maryland biotechnology company promotes improved patient outcomes for infants with body deformities
COLUMBIA, Md. (January 3, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced a recent $200,000 investment from its Life Science Investment Fund (LSIF) into PediaMetrix, a biotechnology company working to detect body deformities in infants and improve patient outcomes. TEDCO’s LSIF lives under the Seed Funds umbrella and invests in companies that have a Federal Drug Administration (FDA) pathway. Participating in this round were also Blu Ventures, as well as a pediatrician.
“The SoftSpot™ app is an FDA cleared tool that allows more efficient early detection for infant skull deformities, allowing for early intervention,” said Dr. Fereshteh Aalamifar, founder & CEO of PediaMetrix. “Thanks to TEDCO’s investment, we can continue creating a more efficient and effective tool of monitoring infant patients for both physicians and parents.”
PediaMetrix, based in Rockville, Md., is a technology company working to bring artificial intelligence (AI) and computer vision to pediatric care to improve patient outcome and reduce costs. With this implementation, the company hopes to lower costs of healthcare and improve patient outcomes. SoftSpot’s core technologies have also been backed by $3.6M in Small Business Innovation Research (SBIR) funding from National Institutes of Health (NIH) and National Seed Funds (NSF).
“PediaMetrix’s app, SoftSpot™, has the potential to support infant growth, ease parent concerns and allow for more efficient communication between parent and physician,” said Teddy Gresser, director of TEDCO’s Seed Funds. “With further development, their app could be applied toward other body deformities, with the hopes of lowering healthcare costs while still allowing for effective point-of-care diagnoses and support to both the patient and their guardians.”
PediaMetrix has engaged in multiple TEDCO programs over the last few years; this includes the Rural and Underserved Business Recovery from Impact of COVID-19 (RUBRIC) program, the LSIF, and the Pre-Seed Builder Fund.
TEDCO’s Seed Funds invest in companies that show promise of becoming venture fundable or companies that, with a seed investment, will be sustainable through customer revenue, follow-on funding, or other forms of corporate venture. For more information about TEDCO’s Seed Funds, visit https://www.tedcomd.com/funding/seed-funds.