Theradaptive, a biopharmaceutical firm pioneering advancements in targeted regenerative therapeutics, has been awarded the Manufacturing Assistance Program grant by the Maryland Stem Cell Research Fund.
FREDERICK, Md., July 6, 2023 /PRNewswire/ -- Today, Theradaptive, a biopharmaceutical firm pioneering advancements in targeted regenerative therapeutics, has been awarded the Manufacturing Assistance Program grant by the Maryland Stem Cell Research Fund (MSCRF). The grant will help Theradaptive develop their GMP Manufacturing Facility in Frederick, stimulating economic development in the state and bolstering Maryland’s reputation as a hub of biotechnological innovation.
Theradaptive seeks to significantly improve patient outcomes by producing targeted therapeutics that can be used to coat implants, devices, and injectable carriers. Their proprietary protein-engineering platform aims to provide greater efficacy, safety, and ease of use across multiple clinical indications including orthopedics, immuno-oncology and dental.
To date, the MSCRF has invested over $177 million in the pursuit of accelerated stem cell research, cures, and commercialization. Their Manufacturing Assistance Program grant will support Theradaptive in increasing the production of their OsteoAdapt regenerative therapeutic product for spine and trauma repair in preparation for first-in-human clinical trials.
Kevin Anderson, Secretary of Commerce at the Maryland Department of Commerce comments on the award: “Maryland Commerce is thrilled to support Theradaptive, an ambitious and innovative company whose new facility will help drive economic development and enhance our state’s reputation as a leading biotechnology hub. As Theradaptive approaches human trials, this new funding will create jobs and help set Maryland apart as one of the most attractive biotech investment areas in the US.”
Ruchika Nijhara, Executive Director at the Maryland Stem Cell Research Fund (MSCRF) states: “The recent award of a Manufacturing Assistance Program grant to Theradaptive represents MSCRF’s commitment to fostering the growth of Maryland cell-based therapy companies and facilitating the establishment of biomanufacturing capabilities within the state. We are excited to witness the development and expansion of their GMP OsteoAdapt Manufacturing Facility in Maryland, which will play a pivotal role in increasing the production of their orthopedic product. Through this growth, we anticipate a positive impact on patient outcomes, benefiting millions of individuals in need.”
Ed Fix, Vice President of Manufacturing at Theradaptive adds: “We are deeply honored to be awarded a Manufacturing Support Award by MSCRF. This award will enable us to establish our own cGMP manufacturing capabilities at our Frederick headquarters and allow us to tap into the rich pipeline of talent in the Maryland area. Manufacturing will be a critical piece in our journey to bring life changing therapies to patients.”
About Theradaptive
Founded in 2016 and headquartered in Maryland, U.S., Theradaptive is a venture-backed biopharmaceutical and medical device company with the goal of leveraging its therapeutic delivery platform to deliver biologics where they are needed in the body with high local precision and high persistence to address unmet medical needs. Theradaptive’s innovative platform is enabling the development of new therapeutics in spine, orthopedics, and soft tissue repair as well as targeted immuno-oncology.
Media Contact:
Marcus McCabe
marcus@flamepr.com
+447875294205
View original content to download multimedia:https://www.prnewswire.com/news-releases/theradaptive-awarded-manufacturing-assistance-grant-by-the-maryland-stem-cell-research-fund-301870682.html
SOURCE Theradaptive
