Posted June 8, 2020
Technical.ly Baltimore: KaloCyte raises $300K from Maryland Momentum Fund
Months after moving to Baltimore, the company is growing its team and gaining funding from local institutions.
Less than a year after relocating its headquarters to Baltimore, biotech company KaloCyte has raised new funding from Maryland-based investors and expanded its local team.
On Monday, the company announced that it raised $300,000 from the Maryland Momentum Fund, which is a venture fund created by the University System of Maryland that invests in affiliated companies. It is part of a larger funding round for the preclinical-stage company, which is developing an artificial red blood cell substitute. Called ErythroMer, it can be used in situations where stored red blood cells are not available, such as treating trauma when patients have a need for blood.
Read the full story from Technical.ly Baltimore.