Maryland biotechnology company researching paths towards innovative treatments for various ailments
COLUMBIA, Md. (May 25, 2023) – TEDCO, Maryland’s economic engine for technology companies, announced a recent State Small Business Credit Initiative (SSBCI) investment of $1 million into Rapa Therapeutics, a clinical stage biotechnology organization seeking to discover the next generation of cell therapy treatments. The SSBCI investment was provided through TEDCO’s Venture Funds.
Rapa Therapeutics, based in Rockville, Md., is a research-driven, clinical stage biotechnology company. Spun out of the National Cancer Institute, this company focuses on commercializing innovative adoptive T cell immunotherapy products that reprogram and harness the power of the immune system for safe, cost-effective and curative T cell therapies for cancer, neurodegenerative and autoimmune diseases. Currently, the company has three clinical trials researching innovative treatments for various ailments.
"The clinical trials underway with Rapa Therapeutics are very promising as the next generation of medication and treatment for various debilitating diseases— such as ALS and solid tumors. Also, the effects are less toxic on patients who are already sometimes very compromised and fragile,” said TEDCO’s Katherine Hill Ritchie, senior director, Venture Funds. “TEDCO is happy to be a part of this company’s growth and research towards a better, healthier future.”
TEDCO provides funding, resources and connections that early-stage technology and life sciences companies need to thrive in Maryland. For entrepreneurs interested in applying for TEDCO funding opportunities, visit https://www.tedcomd.com/funding.