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Cellphire receives $1 million in InvestMaryland funding

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Staff writer ▼ | June 12, 2014
CellphireGovernor Martin O'Malley and The Maryland Department of Business and Economic Development announced that Cellphire has received a $1 million investment through the State's InvestMaryland program.


Cellphire, a Rockville biotechnology company, is developing stabilized cellular products, including freeze-dried platelets that can be stored for years, for use in a range of advanced therapeutic and diagnostic applications.

"Supporting entrepreneurs and innovators like those at Cellphire is a central piece of Maryland's broad support of the startups and small businesses that move our Innovation Economy forward and keep our State competitive in the 21st Century," said Governor O'Malley.

"Maryland is a center of healing and discovery. The technology being developed by Cellphire has the potential to improve care and save lives around the globe."

Administered by the State's Maryland Venture Fund (MVF), InvestMaryland is a public-private partnership of the State and venture capital firms and is one of Governor Martin O'Malley's key economic development initiatives. InvestMaryland raised $84 million to reinvigorate the State-run MVF and support the growth of young Maryland companies in biotechnology, cybersecurity, e-commerce and other high-growth industries.

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