Life sciences company developing a cost-effective production process for cancer immunotherapies
COLUMBIA, Md., (March 5, 2025) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $500,000 Life Sciences Investment Fund (LSIF) investment in Irazú Oncology. The LSIF is nestled under the umbrella of TEDCO’s Seed Funds and is dedicated to supporting qualifying startups with an FDA pathway.
"At Irazú Oncology, we are committed to developing cancer therapies that are both more versatile and accessible to patients worldwide," said Jeff Strovel, CEO of Irazú Oncology. "TEDCO's support has been instrumental in advancing our innovative platform. Their MII program and strategic investments have enabled us to accelerate our research and development efforts, bringing us closer to our mission of delivering more effective cancer treatment options. I would encourage researchers and emerging biotech companies to explore the remarkable opportunities that TEDCO offers to help translate promising science into life-changing therapies."
Irazú Oncology, located in the University of Maryland BioPark in Baltimore, Md., is working to create faster, more cost effective and versatile cancer immunotherapies. Through the Outer Membrane Vesicle (OMV) platform technology, Irazú utilizes outer membrane vesicles – non-replicating, self-adjuvanted, clinically validated, bacteria-derived engineered nanoparticles – to display and deliver tumor antigens for antigen presentation.
“TEDCO continues to seek out and identify promising life sciences companies, like Irazú Oncology, for our LSIF funding,” said TEDCO’s director of Seed Funds, Teddy Gresser. “With this funding, we hope to see continued research and development towards Irazú’s mission.”
Irazú Oncology started with TEDCO’s Maryland Innovation Initiative (MII) where it received a Company Formation Award in 2023.
“Maryland is leading the way in life sciences,” TEDCO CEO, Troy LeMaile-Stovall, said. “Ranked number one for emerging life sciences hubs and NIH research and development awards, it is no surprise that the state harbors a vast and ever-growing life sciences sector. We welcome any researchers, innovators or entrepreneurs looking to take advantage of the state’s unique assets and opportunities.”
For more information about TEDCO’s funding and investment opportunities, visit our page at https://www.tedcomd.com/funding.