The Maryland Department of Business and Economic Development invested announced today that they have invested $200K in Pathsensors, an Evergreen CFO Advisory Client. Pathsensors manufactures biological pathogen identification systems focused on environmental testing and is located at the UMB Biopark.
“We are honored to be a recipient of capital funding through InvestMaryland. PathSensors CANARY technology is providing rapid pathogen testing that ensures a safe and reliable supply of food products for the world’s growing population. These funds will support the development of new products for the food processing industry. We thank the State of Maryland, in particular the Maryland Venture Fund, the Department of Business and Economic Development and the Governor, for their support as we work to develop these important products.” stated Ted Olsen.
InvestMaryland is a funding source for early, mid and late stage growth companies. Through a premium insurance tax credit auction sale, the State of Maryland raised $84M to invest in early stage technologies in the areas of software, communications, cyber-security and life sciences.