TLDR:
- Maryland-based biopharmaceutical company Solaxa Inc. receives $500,000 funding from TEDCO.
- The investment will accelerate the development of neurorestorative treatments for rare neurodegenerative diseases.
TEDCO, Maryland’s technology-focused economic engine, has made a significant investment of $500,000 in Solaxa Inc., a biopharmaceutical company based in Bethesda, Maryland. This funding includes $200,000 from the State Small Business Credit Initiative, demonstrating TEDCO’s commitment to supporting early-stage companies in Maryland.
Solaxa Inc. is dedicated to developing neurorestorative treatments for rare neurodegenerative diseases and acute nerve injuries. The company’s CEO and founder, Christian Walker, stated that this investment from TEDCO will help accelerate their work in developing treatments for patients with spinocerebellar ataxias, showing significant clinical improvements in gait, balance, and speech.
With a focus on developing a class of aminopyridine drugs to detect and treat ion channel dysfunction, Solaxa has a public benefit mission of delivering impactful therapies that improve patient outcomes globally. The company has also been recognized in the Capital Region life science community, being named a finalist in the BioHealth Capital Region Crab Trap competition, showcasing promising biotechnology startups around the world.
TEDCO’s Venture Funds, dedicated to supporting early-stage businesses in Maryland, have shown their continued commitment to fostering innovation in the technology and biopharmaceutical sectors. Solaxa Inc.’s innovative research and development efforts align with TEDCO’s mission to support companies making a difference in patient care.
Overall, the funding from TEDCO will enable Solaxa Inc. to further advance their research and development efforts, bringing them closer to providing much-needed treatments for individuals suffering from rare neurodegenerative diseases and acute nerve injuries. This investment highlights TEDCO’s ongoing efforts to support innovative solutions in Maryland’s technology and biopharmaceutical industries.
