KaloCyte, Inc., http://kalocyte.com, a preclinical-stage healthcare biotechnology company has developed ErythroMer™, a synthetic, bio-inspired red blood cell substitute for use when stored red blood cells are not available. The company received a $300,000 investment from the University System of Maryland Momentum Fund (USM) https://www.momentum.usmd.edu, as part of a $750 K to 1 Million target funding with more than $600K raised to date.
The USM Maryland Momentum fund provides investment for promising technology ventures born out of USM’s 12 institutions. The Fund helps early stage companies move beyond grant funding and early stage seed investors to position themselves for commercial launch or to reinforce commercialization at the early revenue stage.
ErythroMer is an artificial cell that captures oxygen from the lungs and releases it to tissues. Based on studies, ErythroMer exhibits minimal toxicity and highly efficient oxygen delivery. The team is also exploring other uses including transplant organ perfusion, use as a medical countermeasure for acute radiation syndrome, and for veterinary use. The company is set to deliver ErythroMer to market with the expectation of starting human trials in two to three years.
The Fund established by the USM Board of Regents supports promising commercial opportunities arising from advances in research and intellectual property at USM campuses. So far, the Fund has invested in 15 startups to date to include: MF Fire, NextStep Robotics, North American Wave Engine Corporation, Zest Tea, PayerGuide, Retrium, Veralox Therapeutics, Gemstone Biotherapeutics, Neoprogen, Minnowtech, ARMR Systems, Infercabuary, Datakwip, pathOtrak, and KaloCyte.
Previously, in May, KaloCyte was awarded a $373,000 Small Business Innovation Research (SBIR) Phase 1 grant. A three year $2 million grant award referred to as the STTR Fast Track Award was awarded by NIH’s National Heart, Lung, and Blood Institute a few years ago. In addition, the company was one of 80 awardees for the 2018-2019 cohort of the NIH Commercialization Acceleration Program which provides individualized support and advice on how to accomplish key commercialization goals.