TMC launches co-hosted health tech accelerator with Denmark

biobridge support

A new program established at TMC in partnership with Denmark will support the growth of three health tech companies. Photo courtesy of TMC

Years ago, the Texas Medical Center established a biobridge to exchange technology and support with Denmark. Now, the two organizations are coming together to advance three health tech startups through a unique accelerator.

TMC and Denmark-based BioInnovation Institute announced today that three companies from BII will join a customized accelerator program that will guide them toward a United States go-to-market strategy. The program will be built off of the TMCi Health Tech Accelerator program.

“At TMC, we are elevating our ability to create curated go-to-market experiences for hand-selected companies that have a relationship with our partners at the BioInnovation Institute and that are seeking to prepare for of market expansion in the U.S.,” says Emily Reiser, associate director of TMC Innovation, in a news release. “We are excited about the opportunity to collaborate with BII and these founders.”

The three startups will head to Houston next week and incubate for six months, working with TMCi advisers and mentors on their individual challenges within commercialization and U.S. expansion. The three companies in the program are:

  • Aiomic, which is developing Aiomic360, an AI platform for postoperative complications. "With automated tracking and real-time risk assessment, Aiomic360 will function as a quality management tool for hospitals, a decision support tool for healthcare practitioners, and an individualized patient empowerment tool for surgical candidates," per the release.
  • Also tapping into AI, Orbit Health's solution, Neptune, is using motion data from smartwatches to track Parkinson’s motor state and treatment response passively. "Its continuous and objective insights enable regular treatment personalization that is needed throughout the course of the disease to optimize patient outcomes and improve quality of life," reads the release.
  • HEI Therapeutics is enabling at-home hypothyroidism management. "The innovative solution includes a patented finger stick blood test and digital patient empowerment tools and aims to significantly reduce the share of patients that is poorly regulated with medication," according to the release.

The TMC and the Ministry of Foreign Affairs of Denmark launched the Biobridge in 2019. BII is a nonprofit organization with a few resources — the Bio Studio, Venture Lab, and Venture House — that support life science startups with resources and even funding of up to €3 million per projects and €1.8 million per company.

“As we strengthen our offering to support visionary healthcare innovators to develop products and solutions to address clear unmet needs, our partnership with Texas Medical Center allows BII startups to gain exposure to US market and ready themselves for US market entry. We are thrilled about this collaboration with the Texas Medical Center which is one of the largest life science ecosystems in the world,” says Tony Cheng-fu Chang, principal at BioInnovation Institute. “Through the customized accelerator program, these three healthcare startups will acquire critical insight to create field-ready plans for bringing their products and solutions to the US market.”

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Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Houston researcher builds radar to make self-driving cars safer

eyes on the road

A Rice University researcher is giving autonomous vehicles an “extra set of eyes.”

Current autonomous vehicles (AVs) can have an incomplete view of their surroundings, and challenges like pedestrian movement, low-light conditions and adverse weather only compound these visibility limitations.

Kun Woo Cho, a postdoctoral researcher in the lab of Rice professor of electrical and computer engineering Ashutosh Sabharwal, has developed EyeDAR to help address such issues and enhance the vehicles’ sensing accuracy. Her research was supported in part by the National Science Foundation.

The EyeDAR is an orange-sized, low-power, millimeter-wave radar that could be placed at streetlights and intersections. Its design was inspired by that of the human eye. Researchers envision that the low-cost sensors could help ensure that AVs always pick up on emergent obstacles, even when the vehicles are not within proper range for their onboard sensors and when visibility is limited.

“Current automotive sensor systems like cameras and lidar struggle with poor visibility such as you would encounter due to rain or fog or in low-lighting conditions,” Cho said in a news release. “Radar, on the other hand, operates reliably in all weather and lighting conditions and can even see through obstacles.”

Signals from a typical radar system scatter when they encounter an obstacle. Some of the signal is reflected back to the source, but most of it is often lost. In the case of AVs, this means that "pedestrians emerging from behind large vehicles, cars creeping forward at intersections or cyclists approaching at odd angles can easily go unnoticed," according to Rice.

EyeDAR, however, works to capture lost radar reflections, determine their direction and report them back to the AV in a sequence of 0s and 1s.

“Like blinking Morse code,” Cho added. “EyeDAR is a talking sensor⎯it is a first instance of integrating radar sensing and communication functionality in a single design.”

After testing, EyeDAR was able to resolve target directions 200 times faster than conventional radar designs.

While EyeDAR currently targets risks associated with AVs, particularly in high-traffic urban areas, researchers also believe the technology behind it could complement artificial intelligence efforts and be integrated into robots, drones and wearable platforms.

“EyeDAR is an example of what I like to call ‘analog computing,’” Cho added in the release. “Over the past two decades, people have been focusing on the digital and software side of computation, and the analog, hardware side has been lagging behind. I want to explore this overlooked analog design space.”

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