Company is working to create solutions for faster and more cost-effective cancer immunotherapies
COLUMBIA, Md., (July 7, 2026) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $250,000 investment in Irazú Oncology through the State Small Business Credit Initiative (SSBCI). The funding was provided through TEDCO’s Seed Funds, a group of funding initiatives dedicated to investing in eligible technology and life sciences companies with strong potential for continued growth.
"Cancer immunotherapy has transformed care, but it still reaches too few patients and takes too long and too much capital to develop," said Jeff Strovel, CEO of Irazú Oncology. "Our outer membrane vesicle platform is built to change that — delivering multiple tumor targets in a single, self-adjuvating therapy designed to drive a durable anti-tumor response. TEDCO's investment helps us advance that work toward the clinic."
Located in the University of Maryland BioPark in Baltimore, Md., Irazú Oncology aims to develop faster, more cost effective and versatile cancer immunotherapies. Through the Outer Membrane Vesicle (OMV) platform technology, Irazú utilizes outer membrane vesicles – non-replicating, self-adjuvanted, clinically validated, bacteria-derived engineered nanoparticles – to display and deliver tumor antigens for antigen presentation.
“There are innovators and researchers around the world, like Irazú Oncology, working to address gaps in health care and improve patient outcomes. Supporting efforts with the potential to make such a meaningful impact is an honor,” said Teddy Gresser, senior director, Seed Funds, TEDCO. “I look forward to seeing Irazú Oncology continue to grow as the company advances more effective cancer immunotherapies.”
Irazú Oncology started with TEDCO’s Maryland Innovation Initiative (MII) where it received a Company Formation Award in 2023. The company continued to be active in the TEDCO portfolio, becoming an active member of the Federal Labs Leveraging Innovation to Products (FLLIP) Pilot Program, getting mentorship from the organization’s Loaned Executive program and even receiving an investment from TEDCO’s Seed Funds in 2025. Learn more about resources and capital opportunities TEDCO offers at tedcomd.com.
“The continued growth of Maryland’s life sciences sector reflects the dedication and innovation of researchers and entrepreneurs across the state,” said Troy LeMaile-Stovall, CEO, TEDCO. “As one of the nation’s leading biopharma clusters, Maryland offers the talent, connections and resources that help life sciences companies innovate, grow and thrive. I encourage organizations looking to expand to explore the opportunities Maryland offers for long-term growth and success.”