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TEDCO invests first $1M of Md.’s SSBCI funds in Medcura
TEDCO invests first $1M of Md.’s SSBCI funds in Medcura
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TEDCO, Maryland’s economic engine for technology companies, announced today it invested $1 million in Medcura Inc. through the new State Small Business Credit Initiative (SSBCI).
Based in Riverdale, Medcura is a life science and medical device company that has commercialized its first product derived from its advanced wound treatment platform for rapid bleeding management and is in the final stages of development of the next standard of care for the management of intraoperative surgical bleeding.
Medcura developed an advanced wound treatment platform to provide rapid and reliable bleeding management while creating an antibacterial healing environment. This technology has been developed into a versatile hemostatic product line targeting surgical, military/trauma and even consumer applications.
TEDCO will deploy up to $50 million and will allocate the funds into four existing programs targeting technology-based Maryland businesses and entrepreneurs. The Maryland Department of Housing and Community Development (DHCD) will deploy up to $103 million and disburse the funds through three Neighborhood BusinessWorks program initiatives. The Maryland Department of Commerce will deploy up to $45 million through two Maryland Small Business Development Financing Authority (MSBDFA) programs.
