TEDCO Invests SSBCI Funding into Hememics Biotechnologies, Inc.
Maryland biotech company revolutionizing point-of-care testing for viruses and environmental toxins
COLUMBIA, Md. (June 7, 2023) – TEDCO, Maryland’s economic engine for technology companies, announced a $500,000 State Small Business Credit Initiative (SSBCI) investment into Hememics Biotechnologies, Inc., a biotechnology company. The investment came through TEDCO’s Venture Funds.
“I am extremely proud of what the company has achieved,” said John Warden, Jr., CEO and co-founder of Hememics Biotechnologies, Inc. “We have generated favorable results from more than 100,000 biosensor tests in the past nine months. The new funding will allow us to put the final touches on our product, and continue to develop early commercial customers.”
Hememics Biotechnologies, Inc., based in Gaithersburg, Md., is using graphene monolayer biosensors to revolutionize point-of-care testing for viruses and environmental toxins. The HemBox™, a cellphone-sized reader and chip platform, allows users to test for multiple viruses and toxins from samples as diverse as soil, water, saliva and blood.
“After the COVID-19 pandemic, the need for rapid onsite detection devices was evident,” said Katherine Hill Ritchie, senior director, Venture Funds. “TEDCO’s recent investment into Hememics provides the company with additional support, allowing them to continue innovating and helping others.”
TEDCO’s evergreen Venture Funds are dedicated to supporting and growing the next generation of early-state businesses in Maryland and provide investments anywhere from $500,000 to $1.5M. For more information on the application process, visit our page here https://www.tedcomd.com/funding/venture-funds.