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Baltimore Money Moves: Biotech wins big (again)

Plus, TEDCO continues to invest, Cambium Carbon’s seed+ and some manufacturing wins.

Big biotech raises and grants

  • GlycoMantra, a University of Maryland, Baltimore startup, received a $3.7 million SBIR Phase II grant from the National Institute of Diabetes and Digestive and Kidney Diseases. The funding aims to advance the development of therapeutics for metastatic castration-resistant prostate cancer, liver fibrosis and type 2 diabetes.
  • Irazu Oncology, a biotech company using a platform developed by University of Maryland, Baltimore (UMB) researchers for cancer vaccine development, has reportedly secured $2.6 million in debt from an undisclosed source, as reported by citybiz+. Claire D. Murphy, director of strategic marketing for UMB’s Office of Research and Development, told that the company raised $1.8 million in a preliminarily closed seed round as of Dec. 14.

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