News Article

Quaker BioVentures scouts space along I-95 corridor in Maryland


(3/12/2010) Philadelphia investor Quaker BioVentures is looking for Baltimore health-care technology companies to invest in because it expects to see some valuable technology coming out of local research labs.

The venture capitalist already has two Baltimore companies in its portfolio and is looking to spend about $200 million more out of its most recent fund. It is also considering opening an office here and has gotten involved in legislation in Annapolis to help draw more venture investment to Maryland biotech companies.

The attention is sorely needed for the region’s biotech industry. Companies have been budding at two city research parks and elsewhere but have found it hard to find investors in the recession. Quaker’s presence here could stimulate more investment in local biotechs, whether it’s coming out of its own pockets or other investors, biotech advocates said.

“Having venture capitalists in close proximity is a real value for the community,” said Gary Lessing, CEO of Quaker portfolio company Arginetix in Lutherville. “While VCs certainly can and will travel, there’s a higher hurdle for VCs to get involved with companies that are a little bit more difficult to get to.”

By Scott Dance, Staff

© 2010 American City Business Journals, Inc. and its licensors.

Link to the article: Quaker BioVentures scouts space along I-95 corridor in Maryland

Source: Baltimore Business Journal