Houston biomedical startup granted $1.5M, Chevron taps into Plug and Play, and more innovation news
Hitting headlines this month are innovation news stories from battling the opioid crisis and funding to TMCx companies and Houston as a whole earning recognition.
In this innovation news roundup, two Houston startups pocket some cash, Chevron links up with Plug and Play, and more.
BreviTest receives grant to combat opioid crisis
Houston-based BreviTest can rapidly and accurately test for opioid use. Photo via brevitest.com
National Institute on Drug Abuse of the National Institutes of Health — through a Small Business Innovation Research Phase II grant — has granted $1.5 million to Houston-based BreviTest Technologies to take its opioid testing technology to the next level. With 47,600 opioid overdose deaths reported in 2017 in the United States, the startup's analyzer has a lot of potential to aid in the crisis.
"Because of the delay in receiving laboratory results, many physicians use urine drug testing sparingly. The BreviTest analyzer will allow any doctor to measure opioid urine levels in-office, which will help them identify individuals who are misusing the drugs," says BreviTest's Michael J. Heffernan, Ph.D., principal investigator on the project, in a news release.
BreviTest is a Fannin Innovation Studio company. The early-stage biomedical commercialization firm that's based in Houston is proud to see the startup's success and the difference the technology is making.
"Our BreviTest team is excited to receive this support from NIDA to advance our point-of-care diagnostics technology into the clinic," said Fannin executive chairman, Leo Linbeck III, in the release. "Putting a convenient, accurate opioid test in the hands of physicians will be an important step in combating the opioid overdose epidemic facing our country."
Houston's Plug and Play operation names Chevron as founding partner
Chevron has linked up with Plug and Play in Houston. Courtesy of CTV
Plug and Play Tech Center, which just announced the participating companies in its inaugural energy and sustainability cohort in Houston, has named Chevron as a founding partner.
"We are incredibly excited to announce Chevron as a Founding Partner of Plug and Play in Houston," says Wade Bitaraf, founder of Plug and Play's Energy & Sustainability program, in a news release. "Their commitment to invest in digital transformation and reduce the environmental impact of the industry is directly aligned with our Energy & Sustainability program in Houston, Silicon Valley, and around the world."
Barbara Burger, president of Chevron Technology Ventures, the company's venture and innovation arm, is responsible for identifying pathways to innovation for the company.
"Chevron is a proud supporter of the Houston innovation community, and our support of Plug and Play's Energy & Sustainability platform demonstrates our commitment to growing the Houston innovation ecosystem," Burger says in the release. "Innovation will play a critical role in the future of energy, and our partnership with Plug and Play reinforces our commitment to invest in breakthrough technologies to enable the ongoing energy transition."
Houston recognized as a top 10 city for female founder success
According to Inc. 5000, Houston's great for female founders. Getty Images
Texas cities are great for fostering female founder success, according to a new ranking from Inc. 5000. Houston ranked at No. 10 of the top 10 list that factored in the women-led businesses among the magazine's 5,000 fastest-growing private U.S. companies.
"The Houston metropolitan area is home to 15 women-owned Inc. 5000 companies, including online marketing startup Decode Digital Marketing (No. 973) and health care staffing firm Restore Rehab Services (No. 2,645)," reads the ranking. "Together the 15 firms grew their collective revenue 142 percent between 2015 and 2018."
Dallas and Austin both appeared on the ranking, at No. 4 and No. 6, respectively.
Alice closes series A of funding
Alice founders, Elizabeth Gore (left) and Carolyn Rodz, closed their series A of funding. Getty Images
Though the company did not disclose an amount raised, Alice, an artificial intelligence-powered platform for business advice, closed a series A funding round led by SVB Financial Group, the parent company to Silicon Valley Bank.
Per a news release, the company will use the funding to "build its predictive technology, using data analytics to guide each entrepreneur through every stage of their business."
Alice, which has operations in Houston and San Francisco, reached a deal with Austin-based Bumble for funding earlier this year.
TMCx companies win big
Three TMCx alumni companies earned some recognition at the UCSF Digital Health Awards last month. Courtesy of TMCx
- Sana Health, member of TMCx07 in 2018, won in the best behavioral health digital therapeutic category for its light-based neuromodulation pain treatment technology.
- Meru Health, member of TMCx08 in 2019, won in the best mental health digital health therapeutic category for its mental health platform.
- Luma Health, member of TMCx08 in 2019, won in the best EHR-integrated platform for patient engagement category for its patient communication technology.