Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo by Natalie Harms

For nearly a decade, the Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

The TMC3 Collaborative Building officially opened today to a crowd of media, public officials, and health care executives. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

“Today, we lay the cornerstone of a new campus fully dedicated to streamlining the commercialization of life-changing innovations in medicine and technologies,” William McKeon, president and CEO of TMC, says at the event. “We are incredibly excited to both welcome our founding institutions and industry partners to the Collaborative Building and to invite the community to experience the Helix Park campus and its beautiful parks with a series of special events in the months ahead."

Established to be a place for academic institution collaboration, the building — designed by Boston-based Elkus Manfredi Architects — will have wet laboratories, office space, and event facilities. Two venture groups — Portal Innovations and the TMC Venture Fund — will also move into the building.

Each institution will bring in select programs and initiatives. MD Anderson will house two institutions within the new building, including the James P. Allison Institute focused on immunotherapy and the Institute for Data Science in Oncology.

"The future of life sciences in Houston is brighter than ever before as we come together to officially open the TMC3 Collaborative Building,” Dr. Peter WT Pisters, president of MD Anderson, says. “Our clinicians and scientists work daily to advance innovations in cancer research and care – all of which will be amplified in this new environment within Helix Park that further cultivates collaboration, connectivity, and creativity.”

UTHealth will move its Texas Therapeutics Institute into the facility.

“With a shared commitment to improving the health and well-being of individuals and communities, we are bringing together academics and industry to accelerate discovery and medical breakthroughs,” Dr. Giuseppe N. Colasurdo, president and Alkek-Williams Distinguished Chair at UTHealth Houston, says. “Through the Texas Therapeutics Institute — already a signature collaborative enterprise at UTHealth Houston — our world-renowned leaders in therapeutic antibody development will have the opportunity to work closely with other leading researchers in the Texas Medical Center, greatly enhancing our collective ability to translate discoveries and ideas into effective treatments.”

Texas A&M, which has worked with Houston Methodist to develop its engineering medical program, will operate its Texas A&M Health’s Institute of Biosciences and Technology in the new space.

“As we open this state-of-the-art facility, we’re opening the door to a new era of collaboration. This building signifies the dismantling of silos to deliver game-changing therapies for the toughest diseases impacting Texans and citizens worldwide,” said John Sharp, Chancellor of The Texas A&M University System. “Texas A&M Health’s Institute of Biosciences and Technology has long been a trailblazer in drug discovery, and now, in the heart of this resource-rich ecosystem of the Texas Medical Center, we’re taking it up a notch. By positioning our scientists near their peers and esteemed clinicians, we’re igniting a spark that will fuel innovation and forge dynamic research programs.”

The next aspect of Helix Park to deliver will be the Dynamic One, a 700,000-square-foot industry research facility. Several other buildings, including a hotel, residential tower, and mixed-use building, are expected to deliver over the next few years. The "spine" of the project is six linked green spaces, designed by landscape architect Mikyoung Kim, that form an 18.7-acre campus, which is shaped like a DNA helix, hence the project's name.

At the opening event, leaders discussed the annual impact of over $5.4 billion expected after the campus is completed, and the 23,000 permanent new jobs and 19,000 construction jobs anticipated from Helix Park.

"Texas truly is the home of innovation. Our energy innovations are legendary, as are our innovations in space," says Texas Governor Greg Abbott, naming several of the state's innovative accomplishments. "Long before all of this innovation we're seeing now, Texas was the home of the Texas Medical Center."

Mayor Sylvester Turner spoke to the importance of collaboration.

"Individually, you can do things very well. Collectively, you can be transformational," he says. "One thing about this city, collaboration is the key. When we play well together, and when we build an integrated, robust ecosystem, everyone wins. That's Houston, and that's the way we operate."

Howard and Susan Elias donated $16.25 million to the University of Texas MD Anderson Cancer Center. Photo via mdanderson.org

Retired tech leader makes $16.25M donation to Houston health care organization

a meaningful gift

Earlier this year, an executive at Dell Technologies announced his retirement and commitment to philanthropy. Just a few months later, he and his wife made a whopping donation to the Houston health care organization that's responsible for curing their son.

Howard and Susan Elias donated $16.25 million to the University of Texas MD Anderson Cancer Center, the organization announced this week. The gift will go toward accelerating brain tumor and cancer neuroscience research. Howard Elias, who held C-level roles at EMC Corp. and Dell Technologies after EMC's acquisition in 2015, retired in April.

The Eliases have supported MD Anderson since Harrison, Howard and Susan's son, was diagnosed with brain cancer. In 2000, Harrison underwent a successful surgery by Dr. Frederick Lang.

“Dr. Lang and the incredible team at MD Anderson saved my son’s life more than two decades ago,” says Howard in a news release. “Now is the time for us to increase our commitment so we can play a significant role in advancing cancer neuroscience research specifically focused on brain tumors and the nervous system. We want other families to have the chance to see their son grow up, like our family has.”

The donation is the lead donation to concentrate cross-disciplinary research in cancer neuroscience, per the release.

“Our focus is on unraveling the fundamental scientific principles driving the cancer-neuroscience interaction,” Lang says in the release. “These advances will drive prevention, early detection and possibly even cures for neurological cancers; will lead to strategies to overcome the adverse effects of cancer treatments on the nervous system; and will address mental health needs in cancer patients, with the ultimate result of dramatically improving outcomes.”

Lang leads the Cancer Neuroscience Program alongside Dr. Vinay Puduvalli, M.D., chair of Neuro-oncology;and Jim Ray, Ph.D., director of the Neurodegeneration Consortium.

“A future free from cancer is unattainable unless we work together,” says Dr. Peter WT Pisters, president of MD Anderson. “Howard and Susan’s generosity and passion will play a crucial role as we work in this emerging space for generations to come. On behalf of our patients and their families, we extend our heartfelt gratitude.”

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

---

This article first appeared on EnergyCapitalHTX.com.

Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

NASA unveils Artemis III astronauts at Johnson Space Center in Houston

To the moon

NASA on Tuesday, June 9, revealed the crew for its Artemis III mission, the next step in the space agency's plan to eventually land astronauts on the moon.

The announcement came two months after Artemis II's record-breaking trip around the moon that surpassed the distance record of Apollo 13.

NASA's Randy Bresnik, Frank Rubio, Andre Douglas and the European Space Agency's Luca Parmitano won't fly to the moon or land on the surface. Instead, they’ll orbit Earth while practicing docking their Orion capsule with two lunar landers.

“To the Artemis III crew, we wish you Godspeed on the journey ahead,” said NASA administrator Jared Isaacman.

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are racing to deliver the lunar landers. The two-week demo is targeted for 2027. Blue Origin suffered a recent setback when its massive rocket exploded during an engine-firing test on the launch pad in Florida, shaking nearby homes and illuminating the sky with an orange fireball.

NASA's Jeremy Parsons said the setback is a learning opportunity and that the space agency is confident Blue Origin's rocket will be ready in time.

NASA's Artemis program aims to return astronauts to the moon's surface for the first time since the 1970s. A recent revamp of the program announced by Isaacman aims to fast-track it similarly to the Apollo era, adding the upcoming spaceflight around Earth before eyeing a lunar landing in 2028.

“We are certainly humbled as a crew to be able to be your crew that executes this Artemis III mission in space,” said Bresnik, Artemis III commander.

Added Douglas, mission specialist: “My brain — it is going a mile a minute right now. But my heart, it is so warm. It is so full."

In May, NASA awarded hundreds of millions of dollars in contracts to four companies, including Blue Origin, to build landers, rovers and drones for a future moon base. Isaacman said the goal of the moon base is to lay the foundation for a Mars expedition.