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Houston biomedical startup granted $1.5M, Chevron taps into Plug and Play, and more innovation news

Money moves, big deals, and more lead this roundup of innovation news. Pexels

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

BreviTest Technologies

Houston-based BreviTest can rapidly and accurately test for opioid use. Photo via brevitest.com

National Institute on Drug Abuseof 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," saysWade 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

TMCx

Three TMCx alumni companies earned some recognition at the UCSF Digital Health Awards last month. Courtesy of TMCx

Three health tech companies coming out of the Texas Medical Center's accelerator program have won big at the UCSF Digital Health Awards last month.

  • 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.

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Building Houston

 
 

The Texas Medical Center Innovation Factory has named the 16 companies making up the inaugural cohort in the Innovate UK Global Incubator Programme. Photo via tmc.edu

Sixteen digital health and medical device startups founded in the United Kingdom have been selected for a customized accelerator at the Texas Medical Center's Innovation Factory.

In partnership with Innovate UK, TMCi created the Innovate UK Global Incubator Programme, a new accelerator that supports UK businesses as they build their United States go-to-market plan. The program builds the BioBridge relationship between TMC and the UK that was originally established five years ago.

“The TMC UK BioBridge program was launched with the UK Department for Business and Trade in 2018 to serve as a gateway for advancing life sciences and foster innovation and research between our two countries," says Ashley McPhail, chief external affairs and administration officer for TMC, in a news release. "We saw an opportunity to work with Innovate UK to develop a larger program with the UK after the success of the 11 companies that previously participated in our health tech accelerator."

The 16 companies will participate in the program from June to November. The cohort is expected to arrive in Houston on June 5 and have access to TMCi's facilities, network of mentors and potential clients, funding, potential customers, and curated programing — all while being a unique entry point into the US. The new offering joins three other globally recognized curriculums: Biodesign, Accelerator for Cancer Therapeutics, and Health Tech.

“TMCi nurtures long-term growth, development, and competitiveness to increase startups chances of success and global expansion," says Emily Reiser, associate director of TMC Innovation. "By bringing their novel technologies and exposing them to a curated selection of TMC’s expert network, startups receive support and evaluation to build, scale, and expand in the US market."

Two of the cohort's specialties include cardiovascular and oncology — two of TMC's strongest areas of expertise — with solutions ranging from surgical devices to AI-enabled risk stratification and hospital efficiency.

Innovate UK is the country's national innovation agency dedicated to supporting business-led innovation in all sectors.

“The United Kingdom is fully committed to improving global healthcare through scientific collaboration," says His Majesty’s Consul General in Texas Richard Hyde in the release. "Through the expansion of the TMC UK BioBridge and in partnership with Innovate UK, this programme will help to expose the brightest and best British companies to the world’s largest medical city. Our companies will collaborate and grow as they work to develop cutting edge technology. The partnership between the UK Government and TMC demonstrates that international collaboration can drive both economic growth and improvement to quality of life.”

The 16 companies making up the inaugural cohort are as follows, according to TMC.

  • AINOSTICS aims to revolutionize the treatment and prevention of neurological conditions, such as dementia, by developing innovative AI-enabled solutions that draw novel insights from routinely acquired non-invasive medical scans to deliver accurate diagnosis and outcome prediction, and in turn facilitate personalized care and timely access to disease-modifying treatments for patients.
  • Alvie is a blended human plus AI-enabled digital solution providing personalised pre and rehabilitation coaching and supportive care for cancer and surgery. Alvie's technology combines data profiling, risk-stratification and tailored prescriptions of health and well-being with curated educational content, targeted behaviour change coaching and expert support through chat messaging and virtual consultations.
  • C the Signs™ is a validated AI cancer prediction platform, which can identify patients at risk of cancer at the earliest and most curable stage of the disease. Used by healthcare professionals, C the Signs can identify which tumor type a patient is at risk of and recommend the most appropriate next step in less than 30 seconds. The platform has detected over 10,000 patients with cancer, with over 50 different types of cancer diagnosed, and with a sensitivity of >98% for cancer.
  • At PEP Health, We believe all patients deserve the best care possible. Our cutting-edge machine-learning technology enables healthcare organisations, regulators, and insurers the real-time, actionable insights they need to have a direct and dramatic impact on patient experiences.
  • PreciousMD improves the lives of lung-cancer and other lung-related illnesses patients worldwide by enabling imaging-based diagnostics needed for personalized treatment pathways.
  • Ufonia is an autonomous telemedicine company, we use large language models and voice AI to increase the capacity of clinical professionals.
  • My mhealth offers digital therapeutics for a range of long-term conditions- COPD, Asthma, Diabetes and Heart Disease. Our product has been successfully deployed in the UK and India, with >100,000 users registered to date. Our solutions empower patients to self-manage their conditions, resulting in dramatic improvements in outcomes, as evidenced through multiple clinical trials and real-world evaluations.
  • At Surgery Hero, we offer a clinically backed solution that ensures whole-human support before and after surgery. We help health systems, employers and health plans cut costs without sacrificing quality of care.
  • Panakeia's software platform enables extremely rapid multi-omics profiling in minutes directly from routinely used tissue images without needing wet lab assays.
  • QV Bioelectronics are striving to deliver longer, better quality lives for brain tumour patients. Using their first-of-its-kind implantable electric field therapy device, GRACE, QV will provide effective, focal & continuous treatment without impacting patient quality of life.
  • 52 North is a med-tech company focused on improving health outcomes and health equity by reinventing care pathways. The NeutroCheck® solution is a finger-prick blood test and digital platform built to significantly improve safety and quality of life for cancer patients, by helping to identify at-home those patients who are at risk of the most fatal side-effect of chemotherapy: neutropenic sepsis.
  • Somnus is fulfilling an unmet need in global healthcare by developing real-time, point of care blood propofol monitoring. Its products will improve the care of sedated and anaesthetised patients, save money for hospitals, and facilitate a major reduction in greenhouse gas emissions.
  • ScubaTx is a breakthrough organ transplant preservation company established to solve the global unmet need for cost-efficient and longer-duration organ preservation technology. ScubaTx has developed a simple, small and affordable device which uses Persufflation to extend the preservation of organs.
  • IBEX is on a mission to help people live active, healthy and productive lives by increasing their access to early diagnosis of osteoporosis. The IBEX BH software as medical device delvers routine, automated assessment of fracture risk from routine radiology for earlier detection and more equitable treatment of osteoporosis.
  • NuVision produces products derived from donated human amniotic membrane that are used in ophthalmology to help patients with chronic, traumatic and post-surgical wounds of the eye to be treated earlier and recover more fully and more quickly. The company’s products are also used in the management of dry eye disease, a debilitating conditions that affects around 17m people in the USA.
  • Calon Cardio-Technology is on a mission to improve quality of life for patients with Left Ventricular Assist devices (LVAD) and reduce the common post operative complications associated with these implantable heart pumps. We plan to do this by introducing a completely wireless heart pump system and augment patient follow-up with built-in remote monitoring capabilities.

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