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    The mission of the Maryland Technology Enterprise Institute (Mtech), a unit of the A. James Clark School of Engineering at the University of Maryland, is to:

    • Educate the next generation of technology entrepreneurs;
    • Create successful technology ventures; and
    • Connect Maryland companies with university resources to help them succeed.

    Mtech has built a comprehensive entrepreneurship and innovation ecosystem at the University of Maryland. Its programs arm top students from around the world with the knowledge of how to successfully launch companies and guide aspiring and existing entrepreneurs through the entire lifecycle of launching and maintaining technology-based ventures.

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    ASPIRE is a grant program for undergraduate researchers working with Clark School faculty on projects with commercial potential


    TAP Graduate BioSET Inc. Completes $11 Million in Equity Financing

    TAP Graduate BioSET Inc. Completes $11 Million in Equity Financing

    Recent Technology Advancement Program (TAP) graduate BioSurface Engineering Technologies, Inc. (BioSET), a privately held company developing synthetic peptide growth factors for advanced tissue repair announced on June 5 the completion of $11 million in equity financing.

    The financing was led by PTV Sciences of Austin, Texas, and was joined by new investors Westfield Capital and Heron Capital. Existing investors participating in the funding include the Vertical Group, EDF Ventures, MB Ventures and New Markets Growth Fund.

    "We are certainly very pleased with the high level of interest and confidence expressed by our new and existing investors," said Tom Roueche, president and CEO of BioSET. "This financing will allow us to commence human clinical trials with our lead synthetic B2A growth factor product for spine fusion, and also will permit the company to accelerate the pre-clinical development of additional growth factor mimetics the company has identified."

    BioSET's lead product is an osteoinductive bone graft material that is comprised of a proprietary peptide signaling molecule (B2A) coated onto a ceramic bone void filler material. Bone graft materials are predominately used in spine fusion procedures, a surgical option for patients with debilitating back pain associated with degenerative disc disease. Industry analysts estimate the U.S. market for growth factor based bone graft products was in excess of $650 million in 2006, growing at 33 percent annually. The estimated market in 2006 for all bone substitute materials is approximately $1.4 billion.

    BioSET graduated from TAP in 2006.

    Read the official press release

    June 6, 2007

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