The Daily Record: Maryland Momentum Fund Makes $250,000 Investment in Stroke Company
Tuesday, February 6, 2018
The University System of Maryland’s investment vehicle, the Maryland Momentum Fund, has provided $250,000 to a Baltimore medical device company. It is the fund’s second investment.
NextStep Robotics received the money from the Maryland Momentum Fund as part of an initial funding round where it raised $750,000.
NextStep Robotics is developing a robotic therapy to help treat “foot drop” syndrome developed by stroke patients. The company’s technology is based on research from the University of Maryland, Baltimore School of Medicine; Baltimore Veterans Affairs Medical Center and the University of Maryland, College Park A. James Clark School of Engineering.
“We are very pleased the Maryland Momentum Fund has been able to once again broaden the base of co-investors and a university startup, this time to include an international consortium,” David Wise, director of the Maryland Momentum Fund, said in a statement.
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