7 health tech startups flock to Houston for TMC bootcamp

ready to accelerate

Texas Medical Center Innovation announced the seven health tech startups that joined the 2022 accelerator bootcamp. Photo courtesy of TMC

The Texas Medical Center's innovation arm welcomed seven companies to its 2022 health tech accelerator program bootcamp.

TMC Innovation Accelerator for HealthTech is aimed at supporting early-stage life science startups through fundraising, connecting with mentors and potential customers, and more.

“Healthtech startups who connect with our network will emerge more prepared to access their customers and grow into their markets," says Emily Reiser, associate director of TMC Innovation, in a news release. "Our advisors, members, and partners unlock insights for these entrepreneurs about how to more effectively build a strategic plan for improved market access and adoption. Bootcamp ignites these connections, providing immediate value to entrepreneurs and enabling our team to define a long term plan for continued collaboration."

If selected following the bootcamp, founders will spend six months at TMCi with strategic mentorship, clinical validation, and other customized milestone development from the organization.

“Bootcamp is an intensive period of discovery and mutual selection," says Devin Dunn, head of the Accelerator for HealthTech, in the release. "Founders get a chance better understand everything that TMCi brings to bear and our team has the opportunity to select those growing companies that will add significant value to our community.”

The bootcamp focused on several innovation areas — including surgical devices, access to care, robotics, and hospital efficiency. The participating companies include:

  • CardMedic, headquartered in Oxford, United Kingdom, aims to improve communication between staff and patients across any barrier-language, deafness, cognitive impairment or disability-with an A to Z library of pre-written scripts replicating common clinical conversations.
  • Chicago-baseed CareAdvisors is connecting health plans, hospitals, and community-based organizations to streamline high risk case management and quickly close the loop on care.
  • Endolumik, founded in Morgantown, West Virginia, has developed a fluorescence-guided device that uses near-infrared light to enhance visualization for safer, faster, and more consistent bariatric surgery.
  • Orcha, based in Daresbury, United Kingdom, rigorously reviews apps to help systems, clinicians, patients, or consumers find their way to the best health-related apps.
  • Austin-based Roboligent has created a rehabilitation robot, the Optimo Regen, that provides evidence-based therapeutic interventions for upper and lower limbs.
  • Boston-founded ScienceIO's platform transforms unstructured text into structured records in real-time. The company's core product is a HIPAA-compliant API for real-time text processing and analytics.
  • Semantic Health, founded in Toronto, Canada, uses artificial intelligence to complete secondary reviews of all coded and claims data to optimize revenue cycle management.
The application for future cohorts and more information about the program are available online. The 2022 cohort will join the ranks of TMCi's community of 305 life science startups and 221 TMC Innovation Accelerator companies and will receive access to the center's dozens of member organizations.

"Having a product that the market truly needs is critical but not enough," says Bongsu Kim, founder and CEO of Roboligent, in the release. "Especially for the medical device market, I realize that introducing a new product is a thorough and collaborative effort from a variety of stakeholders and experts. Without knowing the mechanism and the right connection, it seems almost impossible to get into the market. The TMC Innovation Accelerator is the perfect place to make it happen."

Mara McFadden (left), CEO of Endolumik, took home the top prize at the Ignite Fire Pitch Competition. Photo courtesy of Ignite

Houston organization doles out over $775,000 in prizes to women-led health tech startups

and the winner is

After virtual and postponed events, Ignite Healthcare Network finally got to honor its 2021 cohort and name the annual winners.

The Fifth Annual Fire Pitch Competition was slated to take place last November, but was postponed to January. Affected by the Delta and then Omicron variants of COVID-19, the event finally got to return to in-person networking and pitches on Thursday, March 3.

"The opportunity to bring people together is a really different level of engagement and energy," Ayse McCracken, founder and board chair of Ignite, says ahead of the awards event. "We love seeing the energy that's being generated in Houston around innovation — and particularly health care innovation."

Seven companies pitched and three were awarded monetary prizes. Morgantown, West Virginia-based Endolumik, which has developed a patent-pending fluorescence-guided device to improve visualization and safety of robotic and laparoscopic bariatric operations, took home the top prize, which included a total of $500,000 in investment prizes from the Texas Medical Center Venture Fund and Wavemaker Three-Sixty Health.

Second place was awarded to Rx Bandz of Locust Valley, New York. The company created the MiniJect, the world’s smallest military-grade auto-injector designed to deliver a wide range of injectable medication, and was awarded $250,000 from the Texas Halo Fund and $25,000 from The Southwest National Pediatric Device Innovation Consortium.

San Antonio-based Hera Biotech took third place and was awarded a pilot program prize with Banner Health. Hera has developed the first non-surgical, tissue-based test capable of diagnosing endometriosis.

Ignite taps into Houston health care institutions to provide opportunities for its cohort of companies. According to a news release, this year’s partner organizations included Houston Methodist, Memorial Hermann Health System, Texas Children’s Hospital, Texas Children’s Pediatrics, The Menninger Clinic, Banner Health, Kindred Healthcare, Aetna, Commonwealth Care Alliance, BLUE KC, Hospital for Special Surgery, Summit Health, TMC Ventures, Texas Heart Institute, Golden Seeds, Portfolia, The Artemis Fund, Wavemaker 360 Health, Prosalus Capital Partners, 7Wire Ventures, Texas Halo Fund, Unity Point Ventures and others.

The judges who evaluated the competition’s panel of companies included:

  • Jay Goss, MBA General Partner, Wavemaker Three-Sixty Health
  • Amanda Hammel, Chief Information Officer, Memorial Hermann Health System
  • Karen Hill, MD, MBA, SVP and Chief Medical Officer, Texas Children’s Health Plan
  • Tom Luby, PhD, Director, Texas Medical Center Innovation Institute
  • Fiona Mack, PhD, Head of JLABS @TMC
  • Roberta Schwartz, PhD, EVP and Chief Innovation Officer, Houston Methodist Hospital
  • Andrew Truscott, Global Health Technology Lead, Accenture
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Houston geothermal unicorn Fervo officially files for IPO

going public

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

New UT Austin med center, anchored by MD Anderson, gets $1 billion gift

Future of Health

A donation announced Tuesday, April 21, breaks a major record at the University of Texas at Austin. Michael and Susan Dell are now UT Austin's first supporters to give $1 billion. In response, the university will create the UT Dell Campus for Advanced Research and the UT Dell Medical Center to "advance human health," per a press release.

The release also records "significant support" for undergraduate scholarships, student housing, and the Texas Advanced Computing Center for supercomputing research.

Both the new research campus and the UT Dell Medical Center will integrate advanced computing into their research and practices. At the medical center, the university hopes that will lead to "earlier detection, more precise and personalized care, and better health outcomes." The University of Texas MD Anderson Cancer Center will also be integrated into the new medical center.

That comes with a numeric goal measured in 10s: raise $10 billion and rank among the top 10 medical centers in the U.S., both in the next decade.

In the shorter term, the university will break ground on the medical center with architecture firm Skidmore, Owings & Merrill (SOM) "later this year."

“UT Austin, where Dell Technologies was founded from a dorm room, has always been a place where bold ideas become real-world impact,” said Michael and Susan Dell in a joint statement.

They continued, “What makes this moment so meaningful is the opportunity to build something that brings every part of the journey together — from how students learn, to how discoveries are made, to how care reaches families. By bringing together medicine, science and computing in one campus designed for the AI era, UT can create more opportunity, deliver better outcomes, and build a stronger future for communities across Texas and beyond.”

This is the second major gift this year for the planned multibillion-dollar medical center. In January, Tench Coxe, a former venture capitalist who’s a major shareholder in chipmaking giant Nvidia, and Simone Coxe, co-founder and former CEO of the Blanc & Otus PR firm, contributed $100 million$100 million.

Baylor scientist lands $2M grant to explore links between viruses and Alzheimer’s

Alzheimer’s research

A Baylor College of Medicine scientist will begin exploring the possible link between Alzheimer’s disease and viral infections thanks to a $2 million grant awarded in March.

Dr. Ryan S. Dhindsa is an assistant professor of pathology & immunology at Baylor and a principal investigator at Texas Children’s Duncan Neurological Research Institute (Duncan NRI). He hypothesizes that Alzheimer’s may have some link to previous viral infections contracted by the patient. To study this intriguing possibility, the American Brain Foundation has gifted him the Cure One, Cure Many award in neuroinflammation.

“It is an honor to receive this support from the Cure One, Cure Many Award. Viral infections are emerging as a major, underappreciated driver of Alzheimer's disease, and this award will allow our team to conduct the most comprehensive screen of viral exposures and host genetics in Alzheimer's to date, spanning over a million individuals,” Dhindsa said in a news release. “Our goal is to identify which viruses matter most, why some people are more vulnerable than others, and ultimately move the field closer to new therapeutic strategies for patients.”

Roughly 150 million people worldwide will suffer from Alzheimer’s by 2050, making it the most common cause of dementia in the world. Despite this, scientists are still at a loss as to what exactly causes it.

Dhindsa’s research is part of a new range of theories that certain viral infections may trigger Alzheimer’s. His team will take a two-fold approach. First, they will analyze the medical records of more than a million individuals looking for patterns. Second, they will analyze viral DNA in stem cell-derived brain cells to see how the infections could contribute to neurological decay. The scale of the genomic data gathering is unprecedented and may highlight a link that traditional studies have missed.

Also joining the project are Dr. Caleb Lareau of Memorial Sloan Kettering Cancer Center and Dr. Artem Babaian of the University of Toronto. Should a link be found, it would open the door to using anti-virals to prevent or treat Alzheimer’s.

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