Promising Houston cancer research project wins $18M grant

fresh funding

AccessPath is a novel, affordable, slide-free pathology system that helps surgeons determine if they have completely removed tumors during surgery. Photo via Getty Images

The Biden-Harris administration is deploying $150 million as a part of its Cancer Moonshot initiative, and a research team led by Rice University is getting a slice of that pie.

AccessPath is a novel, affordable, slide-free pathology system that helps surgeons determine if they have completely removed tumors during surgery. Rebecca Richards-Kortum, a Rice bioengineering professor and director of the Rice360 Institute for Global Health Technologies, is the lead PI on the project that is receiving up to $18 million over five years from the Advanced Research Projects Agency for Health (ARPA-H).

“Because of its low cost, high speed, and automated analysis, we believe AccessPath can revolutionize real-time surgical guidance, greatly expanding the range of hospitals able to provide accurate intraoperative tumor margin assessment and improving outcomes for all cancer surgery patients,” Richards-Kortum says in a news release.

The project is focused on two types of cancer, breast and head and neck cancer, and Ashok Veeraraghavan, chair of Rice’s Department of Electrical and Computer Engineering and a professor of electrical and computer engineering and computer science, is a co-PI and Tomasz Tkaczyk, a professor of bioengineering and electrical and computer engineering at Rice, is also a collaborator on the project.

AccessPath is addressing the challenge surgeons face of identifying the margin where tumor tissue ends and health tissue begins when removing tumors. The project not only hopes to provide a more exact solution but do so in an affordable way.

“Precise margin assessment is key to the oncologic success of any cancer operation,” adds Dr. Ana Paula Refinetti, an associate professor in the Department of Breast Surgical Oncology at The University of Texas MD Anderson Cancer Center and one of the lead surgeons PIs on the project. “The development of a new low-cost technology that enables immediate margin assessment could transform the landscape of surgical oncology — particularly in low-resource settings, reducing the number of repeat interventions, lowering cancer care costs and improving patient outcomes.”

The project optimizing margin identification with a fast-acting, high-resolution microscope, effective fluorescent stains for dying tumor margins, and artificial intelligence algorithms.

AccessPath is a collaboration between Rice and MD Anderson Cancer Center, other awardees in the grant include the University of Texas Health School of Dentistry, Duke University, Carnegie Mellon University and 3rd Stone Design.

“AccessPath is exactly the kind of life-changing research and health care innovation we are proud to produce at Rice, where we’re committed to addressing and solving the world’s most pressing medical issues,” Ramamoorthy Ramesh, Rice’s executive vice president for research, says in the release. “Partnering with MD Anderson on this vital work underscores the importance of such ongoing collaborations with our neighbors in the world’s largest medical center. I am thrilled for Rebecca and her team; it’s teamwork that makes discoveries like these possible.”

Rebecca Richards-Kortum, a Rice bioengineering professor and director of the Rice360 Institute for Global Health Technologies, is the lead PI on the project. Photo by Jeff Fitlow/Rice University

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The first of Rice University's new moonshot initiatives, the Rice Biotech Launch Pad was announced on the 61st anniversary of President John F. Kennedy's address at Rice Stadium. Photo by Gustavo Raskosky/Rice University

New biotech lab, accelerator emerges in Houston to speed up commercialization of life-saving cures

ready to launch

A new initiative from Rice University is launching with an ambitious goal — to take biotech innovations from concept to clinical trials in five years or less.

The Rice Biotech Launch Pad is a newly announced initiative that will expedite Rice University's health and medical technology innovations. The accelerator, which will occupy 15,000 square feet of space on campus, will be funded through federal grants and donations.

“The Rice Biotech Launch Pad will ensure that our faculty and students have the skills, partnerships, tools and support to create technologies that can transform our city and the world,” Rice President Reginald DesRoches says in a press release. “More importantly, the accelerator will provide a pathway for these creations and discoveries to be turned into medical cures that significantly impact people’s lives. Rice researchers have been doing this for years. This development will allow them to do even more and at a quicker, more efficient pace.”

Leading the program are two seasoned experts: associate professor of bioengineering at Rice, Omid Veiseh, and biotech entrepreneur Paul Wotton, who co-founded Avenge Bio and other startups with technology discovered in Veiseh’s lab. Veiseh will serve as faculty director, and Wotton will lead as executive director. Veiseh says the team behind the new lab will assist faculty in their mission to garner funding — via grants from organizations such as ARPA-H, DARPA and the NIH — as well as creating pathways for licensing revenue for the university.

“We have the infrastructure, financial backing and talent in Houston to do more in creating new medicines to cure disease," Veiseh says in the release. "This is a thriving environment that warrants more attention and dedication to bring forward Houston’s medical discoveries. I am proud to help make this happen.”

The accelerator’s founding advisory council members from Rice are:

  • Paul Cherukuri, Rice’s vice president for innovation.
  • Jacob Robinson, professor of electrical and computer engineering and of bioengineering and founder and CEO of Motif Neurotech.
  • Ashok Veeraraghavan, professor of electrical and computer engineering and computer science and co-founder of Synopic.
  • Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Ralph S. O'Connor Professor of Finance and Entrepreneurship at the Jesse H. Jones Graduate School of Business.

“The Biotech Launch Pad is the first in a series of Rice Moonshots that are hyper-focused on building a ‘speed and scale’ innovation ecosystem across Houston," Cherukuri says. "We at Rice are committed towards driving the Biotech Launch Pad in collaboration with our partners within the Texas Medical Center and the new Helix Park campus.”

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Innovative Houston-area hardtech startup closes $5M seed round

fresh funding

Conroe-based hardtech startup FluxWorks has closed a $5 million seed round.

The funding was led by Austin-based Scout Ventures, which invests in early-stage startups working to solve national security challenges.

Michigan Capital Network also contributed to the round from its MCN Venture Fund V. The fund is one of 18 selected by the Department of Defense and Small Business Administration to participate in the Small Business Investment Company Critical Technologies Initiative, which will invest $4 billion into over 1,700 portfolio companies.

FluxWorks reports that it will use the funding to drive the commercialization of its flagship Celestial Gear technology.

"At Scout, we invest in 'frontier tech' that is essential to national interest. FluxWorks is doing exactly that by solving critical hardware bottlenecks with its flagship Celestial Gear technology ... This is about more than just gears; it’s about strengthening our industrial infrastructure," Scout Ventures shared in a LinkedIn post.

Fluxworks specializes in making contactless magnetic gears for use in extreme conditions, which can enhance in-space manufacturing. Its contactless design leads to less wear, debris and maintenance. Its technology is particularly suited for space applications because it does not require lubricants, which can be difficult to control at harsh temperatures and in microgravity.

The company received a grant from the Texas Space Commission last year and was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), in 2024. It also landed $1.2 million through the National Science Foundation's SBIR Phase II grant this fall.

Fluxworks was founded in College Station by CEO Bryton Praslicka in 2021. Praslicka moved the company to Conroe 2024.

5 Houston scientists named winners of prestigious Hill Prizes 2026

prized research

Five Houston scientists were recognized for their "high-risk, high-reward ideas and innovations" by Lyda Hill Philanthropies and the Texas Academy of Medicine, Engineering, Science and Technology (TAMEST).

The 2026 Hill Prizes provide seed funding to top Texas researchers. This year's prizes were given out in seven categories, including biological sciences, engineering, medicine, physical sciences, public health and technology, and the new artificial intelligence award.

Each recipient’s institution or organization will receive $500,000 in direct funding from Dallas-based Lyda Hill Philanthropies. The organization has also committed to giving at least $1 million in discretionary research funding on an ad hoc basis for highly-ranked applicants who were not selected as recipients.

“It is with great pride that I congratulate this year’s Hill Prizes recipients. Their pioneering spirit and unwavering dedication to innovation are addressing some of the most pressing challenges of our time – from climate resilience and energy sustainability to medical breakthroughs and the future of artificial intelligence,” Lyda Hill, founder of Lyda Hill Philanthropies, said in a news release.

The 2026 Houston-area recipients include:

Biological Sciences: Susan M. Rosenberg, Baylor College of Medicine

Rosenberg and her team are developing ways to fight antibiotic resistance. The team will use the funding to screen a 14,000-compound drug library to identify additional candidates, study their mechanisms and test their ability to boost antibiotic effectiveness in animal models. The goal is to move toward clinical trials, beginning with veterans suffering from recurrent infections.

Medicine: Dr. Raghu Kalluri, The University of Texas MD Anderson Cancer Center

Kalluri is developing eye drops to treat age-related macular degeneration (AMD), the leading cause of vision loss globally. Kalluri will use the funding to accelerate studies and support testing for additional ocular conditions. He was also named to the National Academy of Inventors’ newest class of fellows last month.

Engineering: Naomi J. Halas, Rice University

Co-recipeints: Peter J. A. Nordlander and Hossein Robatjazi, Rice University

Halas and her team are working to advance light-driven technologies for sustainable ammonia synthesis. The team says it will use the funding to improve light-driven catalysts for converting nitrogen into ammonia, refine prototype reactors for practical deployment and partner with industry collaborators to advance larger-scale applications. Halas and Nordlander are co-founders of Syzygy Plasmonics, and Robatjazi serves as vice president of research for the company.

The other Texas-based recipients include:

  • Artificial Intelligence: Kristen Grauman, The University of Texas at Austin
  • Physical Sciences: Karen L. Wooley, Texas A&M University; Co-Recipient: Matthew Stone, Teysha Technologies
  • Public Health: Dr. Elizabeth C. Matsui, The University of Texas at Austin and Baylor College of Medicine
  • Technology: Kurt W. Swogger, Molecular Rebar Design LLC; Co-recipients: Clive Bosnyak, Molecular Rebar Design, and August Krupp, MR Rubber Business and Molecular Rebar Design LLC

Recipients will be recognized Feb. 2 during the TAMEST 2026 Annual Conference in San Antonio. They were determined by a committee of TAMEST members and endorsed by a committee of Texas Nobel and Breakthrough Prize Laureates and approved by the TAMEST Board of Directors.

“On behalf of TAMEST, we are honored to celebrate the 2026 Hill Prizes recipients. These outstanding innovators exemplify the excellence and ambition of Texas science and research,” Ganesh Thakur, TAMEST president and a distinguished professor at the University of Houston, added in the release. “Thanks to the visionary support of Lyda Hill Philanthropies, the Hill Prizes not only recognize transformative work but provide the resources to move bold ideas from the lab to life-changing solutions. We are proud to support their journeys and spotlight Texas as a global hub for scientific leadership.”

Investment bank opens new Houston office focused on energy sector

Investment bank Cohen & Co. Capital Markets has opened a Houston office to serve as the hub of its energy advisory business and has tapped investment banking veteran Rahul Jasuja as the office’s leader.

Jasuja joined Cohen & Co. Capital Markets, a subsidiary of financial services company Cohen & Co., as managing director, and head of energy and energy transition investment banking. Cohen’s capital markets arm closed $44 billion worth of deals last year.

Jasuja previously worked at energy-focused Houston investment bank Mast Capital Advisors, where he was managing director of investment banking. Before Mast Capital, Jasuja was director of energy investment banking in the Houston office of Wells Fargo Securities.

“Meeting rising [energy] demand will require disciplined capital allocation across traditional energy, sustainable fuels, and firm, dispatchable solutions such as nuclear and geothermal,” Jasuja said in a news release. “Houston remains the center of gravity where capital, operating expertise, and execution come together to make that transition investable.”

The Houston office will focus on four energy verticals:

  • Energy systems such as nuclear and geothermal
  • Energy supply chains
  • Energy-transition fuel and technology
  • Traditional energy
“We are making a committed investment in Houston because we believe the infrastructure powering AI, defense, and energy transition — from nuclear to rare-earth technology — represents the next secular cycle of value creation,” Jerry Serowik, head of Cohen & Co. Capital Markets, added in the release.

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This article originally appeared on EnergyCaptialHTX.com.

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