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.
Here's your latest roundup of innovation news you may have missed. Photo via Getty Images

Houston unicorn raises $200M series D, startup snags national award, and more innovation news

Short stories

It's been a busy month so far with plenty of Houston startup news, major ecosystem events, and more — and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, Solugen raises another mega round of funding, CorInnova snags a prestigious award, applications are open for two programs, and more.

Houston unicorn chemicals company raises $200M series D

Solugen closed its Series d funding round at $200 million. Photo via Getty Images

Houston-based Solugen has announced its latest round of investment to the tune of $200 million. The company, which reached unicorn status after its $357 million series C round last year, uses its patented Bioforge processes to produce "green" chemicals from bio-based feedstocks.

"Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it's working," the company states in its news release.

"Our first Bioforge has been operating for a year and Solugen is running a nearly nine figure business with high margins selling commodity and specialty chemicals," the statement continues. "We have established ourselves with top tier customers for our existing solutions and fortune 100 technology partners to build a robust pipeline of future molecules that will help us achieve our goal of 10 mil tons of CO2 removed from the atmosphere."

According to the company, this latest raise has increased Solugen's valuation to over $2 billion. The round was led by investors Kennivik, Lowercarbon Capital, and Refactor Capital.

Houston health tech company wins funding from national organization

CorInnova has won a prestigious award. Photo via corinnova.com

Houston-based CorInnova was named one of five awardees from the National Capital Consortium for Pediatric Device Innovation's “Make Your Medical Device Pitch for Kids!” competition. Each honoree received a share of $150,000 in grant funding from the U.S. Food and Drug Administration. The awards ranged from $20,000 to $50,000 to support the advancement of pediatric medical devices.

CorInnova has designed a minimally invasive biventricular non-blood contacting cardiac assist device to treat heart failure.

The 2022 competition was moderated by California-based MedTech Innovator. The other four pediatric device innovation awardees included:

  • Innovation Lab, from La Palma, California, created a mechanical elbow brace stabilizes tremors for pediatric ataxic cerebral palsy to improve the performance of Activities of Daily Living.
  • Prapela, based in Biddeford, Maine, created the first innovation to improve the treatment of apnea of prematurity in over twenty years.
  • Tympanogen, from Richmond, Virginia, replaces surgical eardrum repair with a nonsurgical clinic procedure
  • Xpan, based in Concord, Ontario, has created a universal trocar enables safest and most dynamic access and effortless upsizing in conventional/mini/robotic procedures.

"We are delighted to recognize these five innovations with critical NCC-PDI funding that will support their journey to commercialization. Improving pediatric healthcare is not possible without forward-thinking companies that seek to address the most dire unmet needs in children’s health,” says Kolaleh Eskandanian, vice president and chief innovation officer at Children’s National Hospital and principal investigator of NCC-PDI, in a news release. "We know all too well how challenging it is to bring pediatric medical devices to market, which is why we have created this rich ecosystem to identify promising medical device technologies and incentivize investment. We congratulate this year’s winning innovators and applaud their efforts to help bridge these important care gaps that are impacting children.”

Houston real estate tech scores funding from Amazon entity

DOSS is a real estate tech company. Photo via Getty Images

Houston-based DOSS, which was chosen this summer for the inaugural Black Founders Build with Alexa cohort, has received funding from the Amazon Alexa Fund. The startups in the program were selected based on their ability to innovate with Alexa and build the next generation of voice, artificial intelligence, and ambient experiences technology.

DOSS is a digital brokerage that uses tech to make homeownership more affordable, and the company has developed a technology where customers are able to ask for real-estate advice and tips, search for home listings, get neighborhood information, and recent sales data, according to a news release from the company. They will also eventually be able to request to be connected with home service providers that serve their respective area.

CEO Bobby Bryant and COO Chris Norton founded DOSS in 2016. Last year, the company participated in the Google for Startups Black Founders program, receiving $100,000 from the fund.

TMC Innovation's Biodesign program applications open

Applications are open through the end of the year. Photo via tmc.edu

Applications are now open for the 2023 TMCi Biodesign program at the Texas Medical Center's Innovation Factory. TMC is looking for candidates with relevant backgrounds for starting a digital health or medical device company, such as: engineering, medicine, hospital administration, R&D (prototyping), software development, finance, legal, regulatory, reimbursement, or technical. Candidates must have at least 1 to 2 years of industry work experience or have prior startup history. It is preferred that applicants have earned an advanced degree.

The position is an in-person, full-time requirement that will begin August 2023 and will span nine months with an opportunity to extend for up to two months.

Applications close on December 31. Candidates will undergo a series of interviews in January and then will be extended offers in the spring.

HX Venture Fund calls for startups to meet visiting VC

Calling all Houston tech startups. Image via Screenshot

HX Venture Fund, a fund-of-funds that encourages and enables non Houston-based VCs to tap into the local innovation ecosystem, is hosting Creighton Hicks, partner at Austin-based LiveOak Venture Partners, later this month.

The organization is looking for Houston startups that are building a tech or tech-enabled services company raising a seed to series B round now or in the next six months. Startups have until November 18 to submit their interest via an online form.

The TMC has announced its latest Biobridge with Ireland and a new biodesign program with Australia. Photo courtesy of TMC

Texas Medical Center announces 2 international innovation-focused collaborations

gone global

The Texas Medical Center announced two new partnerships with international entities recently — both will bring innovative opportunities to the Houston area.

Enterprise Ireland, the country's trade and innovation agency, has entered into a strategic agreement with TMC to create the TMC's fourth biobridge. The new partnership will create gateway for Irish innovators to collaborate with the TMC to solve global health challenges.

“The breakthrough technology and entrepreneurship that is coming out of Ireland is truly impressive, and the TMC team is thrilled to be in Ireland today to solidify our partnership,” says William McKeon, president and CEO of the Texas Medical Center, in a news release. “The past two years has shown the importance of collaboration at a global scale, and we are eager to start our work with Enterprise Ireland’s team to further global innovation and research.”

Joining similar partnerships the TMC has with Denmark, the United Kingdom, and Australia, the new Irish Biobridge will focus on advancing health and life science through commercialization, innovation, and research — including identifying opportunities for clinical research and clinical trial activities, according to the release.

“The size, scale and reputation of Texas Medical Center brings new opportunities for Irish companies to innovate and scale and enter the US market,” says Leo Clancy, CEO of Enterprise Ireland, in a statement. “I am delighted to officially launch this partnership with TMC. Enterprise Ireland places a strong focus on driving innovation in the medtech industry and facilitating successful partnerships between Irish companies and influential global healthcare systems.”

Galway, Ireland-based LifeLet Medical, which is developing a novel biomimetic leaflet material for heart valve replacements, is part of TMC’s Accelerator program and is supported by Enterprise Ireland. Two other cohort companies — InVera Medical and Aurigen Medical — have been awarded funding under Irish government’s Disruptive Technologies Innovation Fund administered by Enterprise Ireland.

Also made official today is a new partnership between TMC Biodesign and Biodesign Australia, an organization led by The University of Western Australia that allows Biodesign collaboration across Perth, Melbourne, Sydney, Adelaide, and Brisbane. Australia has collaborated closely with the TMC since the country established its Biobridge in 2018. The two programs' founders and entrepreneurs will be provided with access to talent, clinical trial activity, expanded funding opportunities and market access, according to a news release.

“The launch of the Australian BioBridge in 2018 created a unique opportunity for the exchange of ideas, research and investment to advance medical breakthroughs both at Texas Medical Center and in Australia,” McKeon says in the release. “This expanded relationship with Biodesign Australia offers global opportunities for a new group of healthcare leaders, and we are excited to work collaboratively to provide a platform for innovation and commercialization.”

TMC Biodesign, which launched in 2015, helps connect health tech innovators and founders with mentors, business leaders, and technical expertise to take life-saving technologies to scale. The two programs have trained hundreds of health tech innovators.

“Biodesign Australia is thrilled to partner with Texas Medical Center in our shared goal of furthering healthcare innovation and entrepreneurship,” says Professor Kevin Pfleger, director Biomedical Innovation at The University of Western Australia, in the release. “By uniting the programming, talent and expertise found at Biodesign Australia and TMC, we are creating a dynamic ecosystem that will help to shape the future of healthcare.”

The TMC | Australia Biobridge has co-designed the Healthcare Activator — a program that allows Australian Digital Health and Medical Device companies to tap into Texas Medical Center Innovation programs and partners. Applications are now open for the inaugural cohort launched.

This innovative medical device company has closed $6 million for further product development and clinical trials. Image via Getty Images

Houston medical device startup closes $6M series A

money moves

A Houston-based medical device company born out of the Texas Medical Center has closed its series A round of funding.

Ictero Medical's oversubscribed $6 million round was led by MedTex Ventures, S3 Ventures, and an undisclosed strategic investor, according to a news release. The company's novel cryoablation system was designed to treat high-risk gallstone disease patients and provide a less invasive and lower risk alternative to gallbladder removal surgery — something over 1 million Americans undergo annually.

“Our technology provides an immediate solution for critically ill patients who currently have no good treatment options, and also has the potential to benefit healthier patients who want to avoid surgery,” says Ictero Co-Founder and CEO Matthew Nojoomi in the release.

Recently, Ictero Medical entered into a partnership with Houston medical device development firm Biotex. The collaboration provides the company with engineering resources and in-house manufacturing tools. Ictero also received capital support from MedTex Ventures through its Biotex Medical Device Fund.

“We are excited about working with the Ictero team to advance its technology, which we believe can significantly improve patient experiences and outcomes by providing a non-surgical alternative to treating gallbladder disease,” says Biotex CEO Ashok Gowda in the release.

The fresh funds will be put toward further product development and initial clinical testing.

“MedTex Ventures is enthusiastic about Ictero’s novel cryoablation technology and its potential to solve the unmet need of inoperable patients with gallbladder disease,” says John Fichthorn, CIO of MedTex Ventures, in the news release. “Equally important is the team. We believe the combination of Ictero and Biotex’s technical capabilities, alongside the support from key investors with commercial experience, such as S3 Ventures, position the company for long term success.”

Ictero was founded as a part of the Texas Medical Center’s Biodesign Fellowship program in 2018. Since launch, the company has received a Phase I NSF grant and closed a $1 million seed round co-led by the Texas Medical Center Venture Fund and Texas HALO Fund.

“Ictero is at the forefront of pioneering cryotherapy for gallstone disease, and S3 Ventures is excited about the potential for Ictero’s novel solution to rapidly bring an impactful outcome to patients,” says Kim Rodriguez, venture partner at S3, in the release. “Our research suggests a substantial opportunity to help patients suffering from gallstone disease who are dependent on drainage catheters or too sick for surgery. We are joining a solid investment syndicate in supporting a very capable team.”

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CultureMap Emails are Awesome

Rice Alliance names Houston healthtech exec as first head of platform

new hire

The Rice Alliance for Technology and Entrepreneurship has named its first head of platform.

Houston entrepreneur Laura Neder stepped into the newly created role last month, according to an email from Rice Alliance. Neder will focus on building and growing Houston’s Venture Advantage Platform.

The emerging platform, which is being promoted by Rice Alliance and the Ion, aims to connect founders with the "people, capital and expertise they need to scale."

"I’ve spent a lot of time thinking about what it takes to make an innovation ecosystem more navigable, more connected, and more useful for founders," Neder said in a LinkedIn post. "I’m grateful for the opportunity to do that work at Rice Alliance, alongside a team with a long history of supporting entrepreneurship and innovation."

"Houston has the talent, institutions, and industry base to create real advantage for founders," she added. "I’m looking forward to listening, learning, and building stronger pathways across the ecosystem."

Neder most recently served as CEO of Houston-based Careset, where she helped bring the Medicare data startup to commercialization. Prior to that, Neder served as COO of Houston-based telemedicine startup 2nd.MD, which was acquired for $460 million by Accolade in 2021.

"Laura brings a rare combination of founder empathy, operational experience and ecosystem leadership," Rice Alliance shared.

Neder and Rice Alliance also shared that the organization is hiring developers to design the new Venture Advantage Platform. Learn more here.

Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.