College Park's Remedium Technologies Named Finalist in State Competition

Remedium Technologies, a College Park-based medical device startup, has been named a finalist in a state business competition.

The InvestMaryland Challenge, sponsored by the Department of Business and Economic Development, offers $100,000 prizes and $125,000 in cash and in-kind awards to one business in each of three different categories. State officials announced the finalists on Monday. 

Remedium is competing against Baltimore-based BOSS Medical and Graybug in the life sciences category. The winners will be announced Apr. 15 in an event at the Brown Center on the campus of the Maryland Institute College of Art.

"The InvestMaryland Challenge celebrates what makes Maryland’s economy so strong and diverse—the drive and creativity of our many innovators and entrepreneurs” DBED Secretary Dominick Murray said in a statement. “They’re protecting our vital computer networks from cyber attacks, developing cancer cures and anthrax vaccines, and building the companies of tomorrow that will employ generations of Marylanders.”

The competition is also open to companies outside of Maryland; officials said 25 of the 259 entries were from other states. The program is funded through the online auction of tax credits under a state law passed in 2009.