Maryland’s Life Sciences ecosystem, which played a crucial role in combatting the global COVID-19 pandemic, will be on full display when the Biotechnology Innovation Organization (BIO) holds its annual trade exhibit later this month. Maryland has played a critical role in combating the COVID-19 outbreak during the last year. Several Maryland biopharma businesses are creating and manufacturing antiviral vaccines, while others develop medicines and diagnostics.
The state has drawn significant investment money due to businesses and institutions’ role in combating the disease. A total of $1.16 billion was raised from venture capital firms, with another $2.3 billion coming from government grants.Seven Maryland companies raised more than $10 million in venture capital in 2021, extending the financial momentum. Ellume, an Australian digital diagnostics business, recently announced intentions to develop a U.S. manufacturing facility in Frederick County to speed domestic production of its COVID-19 home testing and create over 1,500 jobs by the end of 2022.
Maryland is featured in the Global Marketplace with other major biotech centers worldwide, with 15 organizations representing the state’s unique mix of Life Sciences business, federal agencies, and flagship institutions. In addition, through this cooperation, more than 30 Maryland biosciences companies received gratis full registration access to the virtual conference. Companies will attend educational workshops, networking events, and one-on-one partnering meetings to generate financing and identify strategic partners for future expansion.