Baltimore-based Biotech Startup Receives Seed Funding to Support Commercialization
BALTIMORE – June 22, 2018 – Gemstone Biotherapeutics, a Baltimore-based startup committed to developing technologies for skin regeneration, was awarded a Phase I Small Business Innovation Research (SBIR) grant by America’s Seed Fund. The program, powered by the National Science Foundation (NSF), provides seed money to the most promising science and technology startups across the country. The SBIR program focuses on funding high-risk technologies that show promise but need additional support to become a marketable product. Startups funded by the SBIR are developing technology that will have a strong positive impact both commercially and societally.
In addition to funding, the award gives Gemstone Biotherapeutics access to the largest network of technology startups and small businesses in the country. Recipients of the NSF SBIR award gain mentorship, training, and promotion from highly-skilled professionals with previous commercialization success.
“The award process through NSF is highly competitive, so we are honored and excited to be recognized among those leading scientific discovery,” says Dr. Emily English, chief operating officer with Gemstone Biotherapeutics. “The funding, as well as the guidance and expertise of the NSF, will be critical in moving our technology to market. The NSF seeks to make a big societal impact through technology, and that’s something that we’re really proud to be a part of.”
Gemstone Bio is currently developing biomaterials and therapeutics that provide a unique combination of cosmetic and functional solutions for scar-free skin regeneration. The startup is working toward commercialization of a portfolio of pre-clinical skin regeneration technologies. The funding and support from the NSF grant will enable continued development and eventual commercialization of their skin regeneration products.
About Gemstone Biotherapeutics
Gemstone Biotherapeutics is a Baltimore-based biotech startup developing innovative, evidence-based scar-free skin regeneration solutions to enhance cosmetic and functional outcomes for patients. The startup was founded in 2013 as a pre-clinical research and development initiative built on a foundation of exclusively-licensed IP from The Johns Hopkins University.
About America’s Seed Fund
America’s Seed Fund powered by the NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.5 million in non-dilutive funds to support research and development, helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the SBIR program. The NSF is an independent federal agency with a budget of about $7.8 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.