Maryland Technology Development Corp., awarded the first two grants from the state's Stem Cell Research Fund, Baltimore Business Journal reports.
Here are five things to know:
1. Maryland's Stem Cell Research Fund is designed to accelerate research and commercialization of stem cell therapies. To date, the fund has committed more than $147 million to over 430 research projects.
2. All sponsored projects must involve human stem cells and be conducted in Maryland.
3. The two awards totaled around $530,000.
4. CEO of Gemstone Biotherapeutics Emily English, PhD, received a commercialization award of $299,998. This award is intended to help with the creation of startup companies or new technologies developed in Maryland-based firms.
5. Sharon Gerecht, PhD, of Baltimore-based Johns Hopkins University received a $230,000 validation award, which is intended to help transition promising stem cell technologies with commercial potential from universities and research labs to the commercial sector.