Archives for News

Orgenesis Inc., a provider of point-of-care cell and gene therapy development, processing and treatment solutions, announced that it has entered into a collaboration agreement with the John Hopkins University. Orgenesis’ labs include development of anti-viral technologies relevant to COVID-19.

Read two recent articles about Orgenesis and Johns Hopkins.

https://www.proactiveinvestors.com/companies/news/916125/orgenesis-ceo-vered-caplan-says-rd-labs-still-operating-during-coronavirus-pandemic-916125.html

https://ir.orgenesis.com/press-releases/detail/145/orgenesis-announces-collaboration-with-the-john-hopkins

The MIDC has pulled together a list of resources to help your business navigate these challenging times. Please check these websites often since some of the programs have reached funding capacity and additional funding may be provided. Contact Barry Bogage, BBogage@MarylandIsrael.org if you have additional questions.

Maryland Resources:

• Johns Hopkins University Coronavirus Map
• Maryland Bankers Association
• Maryland Coronavirus Information for Business
• Maryland Department of Commerce:
  • Maryland Manufacturing Innovation Grant Program for Personal Protective Equipment
• Maryland Department of Health
• Maryland Department of Labor:
  • Unemployment Insurance
  • Work Sharing
• Prince George’s County COVID19 Business Relief Fund
• Montgomery County Public Health Emergency Grant (PHEG) program for small businesses and nonprofits

Federal Government Resources:

• Biomedical Advanced Research and Development Authority (BARDA) Novel Coronavirus Medical Countermeasure Partnership Opportunities
• Centers for Disease Control and Prevention (CDC)
• IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
• Small Business Administration (SBA):
  • SBA Disaster Assistance Loans
  • SBA Economic Injury Disaster Loan (EIDL)
  • SBA Paycheck Protection Program (PPP) (PPP and EIDL Side-by-Side)
  • SBA Small Business Debt Relief Program

Rockville, Maryland-based Sepio Systems secured an additional $4 million in funding from Munich Re Ventures and Hanaco Ventures, adding to the cybersecurity hardware device company’s Series A totaling $10.5 million for the round.

Founded in 2016, Sepio Systems specializes in rogue device mitigation. It manages a SasS platform that protects its clients against malicious hardware devices connected to their infrastructure that can used by cyber criminals for data theft, data manipulation or any other type of cyber attack, the company’s cofounder and CEO, Yossi Appleboum, told Technical.ly.

“Sepio’s mission is to decrease the level of threat from the hardware to be manageable,” Appleboum said. “Our technology is using physical fingerprinting of all devices connected to the infrastructure, [allowing] us to discover, monitor and block ghost devices, transparent network implants, tapping devices and more.” The company is able to monitor and protect these IT infrastructures by deploying security teams to work with each customer.

Read more>>>.

The Maryland/Israel Development Center (MIDC) proudly announces its involvement and assistance in helping Maryland manufacturers identify new business opportunities from Israeli companies valued in the millions of dollars. The MIDC continues to create an “instant infrastructure” of businesses in Maryland and Israel to work together.

The companies include Zentech Manufacturing of Baltimore, providers of electronic manufacturing services, Control Cable, also in Baltimore, which manufactures cable assemblies and wire harnesses, and DWE Plastics in Belcamp, MD, which offers plastic injection molding services. 

With recent changes in the $3.8 billion of American financial aid to Israel, which requires that those funds be spent in the U.S., Maryland has become an attractive location for Israeli defense, homeland and cybersecurity companies to find partners and open a U.S. operation. 

RADA Technologies, LLC (RADA USA), recently celebrated the opening of its U.S. headquarters that features a state-of-the-art R&D and manufacturing operation producing advanced electronics for the defense and aerospace industry. The new facility has full manufacturing capabilities for RADA USA’s active electronically scanned array (AESA) tactical radars.

RADA Technologies, LLC’s ribbon cutting ceremony in Germantown, Maryland was attended by Benjamin Krasna, Deputy Chief of Mission for the Embassy of Israel and prominent Marylanders including presentations by Lt. Governor Boyd Rutherford; Montgomery County Executive Marc Elrich; Maryland Deputy Secretary of Commerce Ben Wu; Jeff Samuels, representing U.S. Senator Chris Van Hollen; Andrew Donlon, representing Congressman David Trone representatives from the Germantown and Gaithersburg Chambers of Commerce. Bill Watson, CEO of RADA Technologies, LLC (RADA USA) and Dov “Dubi” Sella, CEO of RADA Electronics, LTD in Israel echoed RADA USA’s commitment to creating hi-tech jobs in Maryland. Barry Bogage, Executive Director of the MIDC, emceed the ribbon cutting ceremony.

RADA Technologies, LLC is the American subsidiary of Israel-based RADA Electronic Industries Ltd. After a founding period in Silver Spring, MD., the company decided to stay in Montgomery County, expand and implement its growth plans in Germantown. The Company plans to add 80 full-time employees by the end of 2023. RADA will invest close to $4 million into this expansion project.

Montgomery County is participating in this economic development project with a $50,000 Economic Development Fund conditional grant. The State of Maryland is providing a $300,000 Advantage Maryland (formerly MEDAAF) conditional loan, plus an expected $450,000 in Job Creation Tax Credits over the life of the project.

Welcome to Maryland! For more information go to RADA Technologies, LLC.

To read the State of Maryland’s press release, click here>>>

Maryland Lt. Governor Boyd Rutherford led a trade mission to Israel arranged by the Maryland/Israel Development Center. The Lt. Governor spoke at the Cybertech Conference, Israel’s premier event for Israeli and international cybersecurity companies. Over 18,000 attended.

The Maryland/Israel Development Center coordinated the trade mission and has been responsible for travel to Israel by every Governor since its founding in 1992.  Maryland cybersecurity companies and other business and civic leader traveling with 2020 Trade Mission delegation were: Lt. Governor Boyd Rutherford, State of Maryland; Barry Bogage, Executive Director, Maryland/Israel Development Center; Paul Beatty, Maryland Department of Commerce; Lew Berman, ICF International; Brian Castleberry, Maryland Department of Commerce; Cory Dennis, State of Maryland; Courtney Highsmith, State of Maryland; Yehuda Neuberger; Abba Poliakoff, Gordon Feinblatt; Matt Pugh, Pugh & Tiller PR; Avi Rosenzweig, Maryland/Israel Development Center, Philip Rous, University of Maryland, Baltimore County; Bruce Spector, Baltimore Cyber Range; Michael Spector, Baltimore Cyber Range; Jay Steinmetz, Barcoding Ltd. and David Wilson, Morgan State University.

In addition to speaking at Cybertech, the Lt. Governor met with Israeli companies with offices and employees in Maryland such as RADA Electronics which just opened a new manufacturing facility in Germantown in December 2019 and Sinai Hospital’s Israeli operations center. He also met with new companies to attract to Maryland. The Lt. Governor also received briefings from the Israel Ministry of Foreign Affairs and Israel Foreign Trade Administration, and toured Yad V’Shem, the Israel national Holocaust memorial and museum, as well as historic cities in Jerusalem.

Delegation members including Bruce Spector from Baltimore Cyber Range and Jay Steinmetz from Barcoding Inc. conducted their own business meetings with Israeli companies to pursue new business opportunities, while David Wilson from Morgan State University and Philip Rous from UMBC met Israel academic institutions to discuss research collaboration and student and faculty exchanges.

Read the Jerusalem Post article about the Lt. Governor’s Trade Mission.

Read the Lt. Governor’s press release on CyberIsrael Conference.

Photos from the  Lt. Governor’s visit to Israel Cultural Sites as well as photos from the Cybertech Israel Conference.

Medispec Ltd. began its operations in Maryland in 1992 and is one of the longest standing Israeli company in the state. Medispec has pioneered innovative shockwave therapy solutions for healthcare and does business in more than 80 countries.

Medispec Ltd. (USA) was founded in 1992 by Mr. Anil Dhingra, Vice President & COO, and Mr. Avner Spector, CEO.  The Company has its North American headquarters in Gaithersburg, MD.    It started with two employees and has grown to more than 50 employees worldwide today. 

Medispec provides non-invasive solutions for use by Urologists, Orthopedists, Cardiologists, Dermatologists and even Veterinarians.  During the 27 years of experience and expertise in shockwave therapy solutions, Medispec has continuously introduced competitive systems and technological breakthroughs to the market.  Medispec’s primary product in the US market is an Extracorporeal Shock Wave Device to treat kidney stones.  It also markets devices to treat plantar fasciitis (heal pain) and Cellulite.  In the international market, Medispec has a wider range of products that include a Cardiac device to treat Ischemic Heart disease and a device to treat Erectile Dysfunction.   

Medispec is a dynamic Company and has adapted to the changing needs of the market, and has been able to provide innovative solutions for its customer’s needs. Medispec has built relationships with some premier hospitals, surgery Centers and Physician practices all over the country and is offering cost effective solutions.   Our proficient clinical and service teams promote and ensure a superior experience for patients, physicians and medical facility staff.  

Maryland/Israel Development Center (MIDC) was very helpful during the initial phases of the set up in Maryland.  MIDC has a great network of professionals from various fields, which has helped Medispec Ltd. over the years:  raise capital, lease office space, recruit employees, and address banking and insurance needs, among other things. MIDC is a great asset to any Israeli Company trying to set up new offices or to an established company that is going through an expansion process.

Healthcare in the US market has been going through some dramatic changes in the last several years.  Medispec prides itself in adjusting to this change by offering not only excellent products but also cost effective solutions to cater to the needs of changing healthcare environment

MEDISPEC PRODUCT LINE

	E3000TM Electrohydraulic Shock Wave Lithotripsy (ESWL) The Medispec E3000™ is an Electrohydraulic Extracorporeal Shock Wave Lithotripter with one of the largest focal zones in the industry combine with high bar pressure to effectively treat urinary calculus. This device is indicated for the fragmentation of kidney and ureteral stones and offers the perfect combination of clinical performance, flexibility and affordability.
	EM1000 TM Electromagnetic Shock Wave Lithotripsy (ESWL) EM1000 electro-magnetic based system offers outstanding clinical results, with the highest stone-free rate and lowest re-treatment rate compared to competing solutions. It is a high-end compact and modular system, enabling both in-line and real-time viewing of the stone and treatment, offering a quiet treatment.
	Orthospec TM Extracorporeal Shock Wave Therapy (ESWT) Unique, patented shock waver technology especially designed for treatment of chronic heel pain caused by Plantar Fasciitis.
	Vetspec TM  ESWT Designed for the treatment of chronic veterinary bone and soft tissue injuries in which conventional treatment options have been exhausted.
	Slimspec TM Radial Wave Therapy (RWT) Radial Shock Wave system for cellulite and body firming treatments
	Cardiospec TM Extracorporeal Shock Wave for Myocardial Revascularization (ESMR) A revolutionary therapy used to stimulates the formation of collateral blood vessels in ischemic heart tissue, enhances blood perfusion and restores cardiac function.  (Investigational Device. Limited by Federal (or United States) law to investigational use. Approved for use in Canada only.)

United Airlines launched the first nonstop air service between the Washington, DC region and Israel in May of this year. The service will operate three times a week from Dulles Airport.

The MIDC participated in a regional consortium of like-minded organizations including the Jewish Community Relations Council of Greater Washington (JCRC), the Baltimore Jewish Council (BJC) and the Israel American Council, to advocate for the nonstop flight.

The MIDC, United Airlines and the Metropolitan Washington Airports Authority collaborated with the JCRC and BJC to announce the new flight to the Washington and Baltimore Jewish Communities. Over 700 people attended the events.

View photos from May 13^th United Airlines and MarketReach America event>>>.

View MarketReach America booklet with a listing/description of Israeli companies>>>.

Israeli entrepreneurs face the same challenges all entrepreneurs face only 6,000 miles away from their primary market. To help address these challenges, the MIDC launched a binational accelerator to deliver The Lean Startup entrepreneurial training program in Israel, the same program used by the U.S. National Science Foundation (NSF) to train American entrepreneurs.

The MIDC partnered with the Israel Innovation Authority (IIA) to recruit a cohort of 16 entrepreneurs to undergo an intensive three-day training program in Israel in February with NSF certified trainer Robert Storey and colleague, Chuck Montague, Ph.D. The training encompassed understanding the assumptions underlying the entrepreneurs’ technology and proposed business model and how to challenge, verify or expose the flaws in those assumptions by testing them against the real-time needs of potential customers.

Ten of the entrepreneurs then traveled to Baltimore in May for a two week, in-depth “customer discovery” experience where they met with possible customers, distributors, end-users and key opinion leaders to verify their technologies’ benefits in the market.

Hilik Harari, CEO of GaitBetter, a program participant, said, “I should have done this two years ago when I first started my company. It would have saved me a lot of time, money and headaches.”

The MIDC plans to continue the program with the IIA. Additional funders included the Maryland Department of Commerce, University of Maryland, Baltimore and The Abell Foundation of Baltimore.

A valuable component of the program was the Business Advisory Teams of experienced local executives, entrepreneurs and mentors to help the entrepreneurs navigate the local market. The MIDC is grateful to the professional trainers and volunteers who mentored the Israeli entrepreneurs. Special thanks to workshop sponsors: Baker Donelson, Covington, Epstein Becker Green, Sinai Hospital and to University of Maryland, Baltimore for their invaluable assistance in coordinating arrangements for the delegation.

View MarketReach America booklet with a listing/description of Israeli companies>>>.

MIDC Introduced RADA to the State and County

RADA Technologies, which produces electronics for the aerospace and defense industry, is planning a new headquarters in Germantown, including a research and development and manufacturing operation. The company will relocate to a 25,000-square-foot facility on Seneca Meadows Parkway in Montgomery County by the end of the year. As a result of the expansion, RADA Technologies plans to create 80 new high-tech jobs in Maryland by December 2023.

The Maryland/Israel Development Center introduced RADA Technologies to the Maryland Department of Commerce and Montgomery County Economic Development Corporation, who subsequently provided the company with a financial incentive package.

“Given the anticipated growth of RADA Technologies, we felt that being part of Montgomery County was the best decision to enhance our presence in the United States.  We are thrilled to be part of a community that houses tremendous technology and the best talent, and to contribute to its economic development,” said Bill Watson, CEO of RADA Technologies LLC. “I want to thank everyone who took part in making this possible and those that are still working hard in building this cutting-edge radar manufacturing facility.”

RADA Technologies is the American subsidiary of Israel-based RADA Electronic Industries Ltd. After a founding period in Silver Spring, the company decided to stay in Montgomery County to expand and implement its growth plans in Germantown. RADA will invest nearly $4 million into this expansion project.

“We are proud that RADA Technologies chose Maryland for its U.S. subsidiary and now plans to expand and add jobs,” said Governor Larry Hogan. “For global companies like RADA, Maryland serves as an excellent gateway to the North American market, including the U.S. military.”

To assist with project costs, the Maryland Department of Commerce has approved a $300,000 conditional loan through Advantage Maryland, formerly the Maryland Economic Development Assistance Authority and Fund (MEDAAF). Additionally, Montgomery County is providing a $50,000 conditional grant in support of the project. The company is also eligible for state tax credits, including the More Jobs for Marylanders program and the state’s Job Creation Tax Credit.

Montgomery County Executive Marc Elrich said, “The decision by RADA Technologies to expand in our community was supported by a County-State partnership designed to assist this global company with its workforce, technology, and space needs.  Their expansion is a testament to Montgomery County’s ability to help grow technology-based international businesses.”

“After only a year operating in Maryland, it’s exciting that RADA Technologies is growing to a new space and adding to their workforce,” said Maryland Commerce Secretary Kelly M. Schulz. “In addition to Maryland having 15 of the top 20 aerospace and defense companies, we also have a highly-educated workforce and proximity to many federal and military facilities which offers a unique advantage to companies like RADA Technologies.”

The Maryland/Israel Development Center, a joint program of the Maryland Department of Commerce and Israeli Ministry of Economy that promotes bi-lateral trade and economic development, introduced RADA Technologies to Maryland. “We are delighted that RADA is expanding in Germantown,” said Barry Bogage, executive director of the MIDC.  “A Montgomery County location puts RADA in the heart of a thriving defense, homeland and cyber security industry cluster near the nation’s capital.”

To learn more about the company, please visit www.rada.com.

About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.