BaltTech: UMBC biotech startup raises $1.5 million - Technology news: Digital tech, innovation, Apple and Microsoft news from reporter Gus Sentementes

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June 22, 2011

UMBC biotech startup raises $1.5 million

Plasmonix Inc., a biotech startup whose technology comes from research at the University of Maryland, Baltimore County, this week announced it raised $1.5 million of a planned $2 million Series A equity offering.

The investment was led by the Maryland Healthcare Product Development Corp. Plasmonix is working on commercializing a technology called Metal Enhanced Fluorescence, which was developed at UMBC.

Basically, the technology enables super-fast detection of heart attacks, sexually transmitted diseases, salmonella -- within 20 seconds.

Watch the Youtube video of founder and MEF inventor Dr. Chris Geddes (Other founders include William M. Gust II, President and CEO and Dr. John Holaday, Chairman.)

Posted by Gus Sentementes at 10:46 AM | Permalink | Comments (0)
Categories: *NEWS*, BioTech, East Coast, Entrepreneurs & Risk Takers

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About Gus G. Sentementes

Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.

Follow @gussent on Twitter