Maryland-based company pioneering a first-in-class cancer immunotherapy
COLUMBIA, Md., (April 29, 2026) — TEDCO, Maryland’s economic engine for technology companies, announced a recent $500,000 Venture Funds investment in ICaPath located in Baltimore, Md. The Venture Fund is dedicated to growing the next generation of early-stage businesses in Maryland.
“With TEDCO’s support, we will continue to unlock the full power of immunotherapy while improving safety and patient monitoring,” said Brock Lindsey, founder and chairman of the board of ICaPath. “By combining advanced nanoparticle engineering with a clear regulatory strategy, our company is advancing a promising immunotherapy platform with the potential to significantly impact some of the hardest to treat cancers.”
ICaPath is a Baltimore-based biotech company that has developed a cancer immunotherapy product using encapsulated IL-12 in PLGA nanoparticles. ICaPath's proprietary technologies for PLGA nanoparticle encapsulation can be expanded to additional payload as well.
“The complex nature of cancer requires a more customized response, which is what the immunotherapy-based biologic ICaPath is developing aims to offer,” said Katherine Hill Ritchie, senior director, Venture Funds, TEDCO. “We are hopeful that, with the help of this funding, the company will continue towards a solution that could help make significant steps towards medical solutions for patients.”
TEDCO’s Venture Funds were created to increase private equity and venture capital in Maryland, generate financial returns and foster economic growth. For more information on the application process, visit our page here.
“With more than 54,000 people employed in the life sciences industry, according to the Milken Institute, it is no surprise that companies like ICaPath are calling the state home,” said TEDCO CEO Troy LeMaile-Stovall. “Entrepreneurs and researchers will find a community of like-minded individuals across the state who can offer collaborative efforts, new perspectives and more.”
For more information, visit our page at www.tedcomd.com/funding.