This week's roundup of Houston innovators includes Dr. Evan Collins of Houston Methodist, Margarita Kelrikh of Pillsbury, and Howard Berman of Coya Therapeutics. Photos courtesy

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes a new innovator in residency, a Houston startup lawyer, and a neurodegenerative therapeutics CEO.

Evan Collins, innovator in residency at Houston Methodist

Dr. Evan Collins, an orthopedic surgeon and chief of the Houston Methodist Hand & Upper Extremity Center, was named the hospital's first innovator in residency. Photo via drevancollins.com

Dr. Evan Collins, an orthopedic surgeon and chief of the Houston Methodist Hand & Upper Extremity Center, is the inaugural innovator in residency at Houston Methodist Center for Innovation.

What does an innovator-in-residency do? Collins sat down with InnovationMap to explain. His role, he explains, is to encourage other clinicians to get involved in the innovation process, particularly using digital health care programs.

“When you look at all the technology, especially the digital technology that's being applied [in medicine], and the future of digital technology, whether you define it as AI or other variations, having a clinical perspective to vet a lot of these possible solutions, as opposed to just keeping it on the administrative side of things, has greater value,” he says. Read more.

Margarita Kelrikh, counsel at Pillsbury

Margarita Kelrikh joins the Houston Innovators Podcast to discuss her career, legal tips for startups, and why she's dedicated to the Houston startup community. Photo courtesy

After working at WeWork and its upstart competitor for several years, Margarita Kelrikh realized it was time to move back into a law firm where she could help more early stage Houston startup clients. She recently joined Pillsbury's Houston office as counsel.

"I realized I wanted to work with the people who I worked with in the past, and the only way I could do that is if I went back to a law firm," she says, explaining that working in house means you can only have one client: your employer. "It's about having that variety and being able to work with a wide array of people."

Kelrikh shares some of her go-to startup legal advice on this week's episode of the Houston Innovators Podcast, and she emphasizes how ready and willing she is to serve the Houston startup community. Read more.

Howard Berman, CEO and co-founder of Coya Therapeutics

Coya Therapeutics is looking into how a trendy weight loss drug could complement its Alzheimer’s disease treatment. Photo via LinkedIn

Glucagon-like peptide 1, or GLP-1, agonists are all the rage right now thanks to drugs like Ozempic and Wegovy. Though they’re currently being prescribed for diabetes and weight loss, a Houston company reports that it may have found another use for GLP-1s.

Coya Therapeutics, a publicly traded clinical-stage biotechnology company, has filed intellectual property protection for a combination of its proprietary COYA 301 and GLP-1. Coya’s team believes that combining COYA 301, a low-dose interleukin-2 (IL-2) intended to enhance the anti-inflammatory function of regulatory T cells (Tregs), with GLP-1 could be a game-changer in the fight against Alzheimer’s disease.

According to Coya’s CEO, Howard Berman, “We believe that combination immunotherapy approaches will evolve to play a meaningful role in treating complex immune-based diseases that are driven by a host of pathophysiologic mechanisms.” Read more.

Dr. Evan Collins, an orthopedic surgeon and chief of the Houston Methodist Hand & Upper Extremity Center, was named the hospital's first innovator in residency. Photo via drevancollins.com

Houston Methodist names orthopedic surgeon as inaugural innovator in residency

leading medicine

Houston Methodist Center for Innovation has named its first innovator in residency.

Roberta Schwartz, executive vice president and chief innovation officer at Methodist, chose Dr. Evan Collins, an orthopedic surgeon and chief of the Houston Methodist Hand & Upper Extremity Center, for the role.

“Dr. Collins has been a physician champion for innovation projects over the past few years and will be an exceptional asset for our team to help involve physicians more actively in innovation throughout our hospital system,” Schwartz wrote on LinkedIn.

So what does an innovator-in-residency do? Collins sat down with InnovationMap to explain.

“When you look at all the technology, especially the digital technology that's being applied [in medicine], and the future of digital technology, whether you define it as AI or other variations, having a clinical perspective to vet a lot of these possible solutions, as opposed to just keeping it on the administrative side of things, has greater value,” he says.

His role, he explains, is to encourage other clinicians to get involved in the innovation process, particularly using digital health care programs. “Innovating is great, but the information that's coming has to be actionable in a way that fits a business model and answers significant questions in health care,” says the New York native.

He uses the metaphor of an Apple Watch’s sleep tracker to illustrate what is perhaps less than actionable. After all, you wake up knowing if you slept well without a device telling you about the quality of your night’s rest. His job, then, is vetting opportunities and technologies with the goal of deciding what may make a good return on its investment.

“‘Does it increase my capacity to see patients? Does it improve things in a meaningful way?’,” he asks. “It's looking at the opportunities within health care, but applying some rigor to it from a clinical perspective to vet, ‘Is this really going to give us actionable information where we can create value when this thing is produced?’”

Collins jokes that he was chosen for the role because he “got the short straw.” But his background speaks for itself. He’s been at Methodist for 27 years and received his MBA from Rice University’s Jesse H. Jones Graduate School of Business in 2013. He’s used his expertise to improve efficiency in the operating room, allowing him to help more patients than ever before.

“Maybe they saw this as another opportunity to give input that could be helpful and contribute to the organization and I'm grateful for that opportunity,” says Collins. The “they” he’s referring to is Schwartz, but also Marc L. Boom, Methodist’s forward-thinking president and CEO. “They recognize the importance of what we're trying to do here for the future of health care. So I think I'm grateful for that opportunity, but they are the ones that create that opportunity for me to contribute.”

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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