Houston biotech company closes $120M Series B, Chevron taps local startup for program, and more innovation news

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Houston-based Sensorfield was selected to participate in a Chevron Technology Ventures program. Courtesy of Sensorfield

Big things are happening in Houston — from a $120 million close to the U.S. Department of Energy picking a Houston-area company for nuclear energy research. Here are the highlights of Houston innovation news you might have missed.

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Houston immunotherapy company raises $120 million in funding

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AlloVir, a Houston biotech company founded at Baylor's Center for Cell and Gene Therapy, has closed a $120 million Series B round that was led by Fidelity Management and Research Company. Other contributors included Gilead Sciences, F2 Ventures, Redmile Group, Invus, EcoR1 Capital, Samsara BioCapital, and Leerink Partners Co-investment Fund, LLC.

The company is currently in clinical trials for its immunotherapy technology and also announced it is joining the ElevateBio — a Boston-based organization that combines a group of cell and gene therapy companies — portfolio.

"We are excited to now be building AlloVir as an ElevateBio portfolio company," says Ann Leen, AlloVir co-founder, CSO, and Professor of Pediatrics at Baylor College of Medicine, in a release. "This partnership provides AlloVir with fully integrated bench-to-bedside capabilities to accelerate the development and commercialization of our allogeneic, off-the-shelf, multi-virus specific T- cell immunotherapies."

Allovir, which until recently was known as ViraCyte, was founded in 2013.

Chevron taps Houston startup for pilot program

Photo courtesy of Sensorfield

Houston-based Sensorfield LLC, which has developed a suite of wireless sensors for industrial monitoring, has announced that it has been selected for Chevron Technology Ventures' Catalyst Program.

"Technology has finally reached the point where embedded solar-powered, plug-and-play industrial wireless sensors are possible at a low cost,'' says Sensorfield founder and CEO, Strode Pennebaker, in a release. "Our exciting new association with Chevron is a major step in our goal to bring cost-effective, high-quality intelligent remote monitoring to asset owners at any scale."

Department of Energy selects a Houston-area company for funding

Courtesy of the DOE

U.S. Department of Energy is awarding $10.6 million for nuclear technology development across three projects in three states — one is in Wadsworth, Texas, about 80 miles outside of Houston.

The company, STP Nuclear Operating Company, will receive $1.18 million in DOE funding, according to a release, to develop and implement advanced fire probabilistic risk assessment — or PRA — modeling techniques.

"These projects are important because they will help the U.S. continue to develop advanced reactors and technologies to support nuclear energy as a safe, zero-emissions baseload energy source," says Carrie Edwards, senior adviser for the Office of Nuclear Energy at the DOE, in an email.

Rice University launches executive education program in The Woodlands

Rice University's Jones Graduate School of Business — in partnership with The Woodlands Area Economic Development Partnership — has created The Leadership Accelerator. It's the first time Rice has brought an open enrollment program to the area.

The program will take place from October 7 to 10 program at the former Chicago Bridge & Iron Co. office buildings in Hughes Landing (2103 Research Forest Drive). Professor Brent Smith will lead the course .

The four-day course will build upon established managers' careers and give them an opportunity to study best practices for creating a more productive organization.

Carnrite Ventures expands to Austin

Courtesy of Nick Carnrite

Houston-based The Carnrite Group's investment arm, Carnrite Ventures, has agreed to invest with Seraph Group. The partnership allows for the Houston VC group to expand its portfolio to Austin, as that's where Seraph's last fund focused on.

"Austin's venture capital funds have moved up-market to series B and C funding rounds, which has created a need for more capital in earlier stages and provides us with an opportunity," says Nick Carnrite, Managing Director of The Carnrite Group and Carnrite Ventures, in a release.

Houston scientifically-designed athleticwear startup launches men's line

Courtesy of Accel Lifestyle

Accel Lifestyle, a Houston-based athletic clothing line made with its patented anti-stink material, has launched its menswear line.

"After three years in the making, I'm beyond thrilled to announce that Accel Lifestyle Men's Collection has launched," says Megan Eddings, founder of Accel. "We are focusing on shirts (t-shirts and tanks), and we are planning to launch the women's collection late next month."

The products are made in America and all ethically sourced — even the product's shipping material, as it has zero plastic involved.

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Houston researchers develop breakthrough device that could bypass spinal injuries

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Scientists at Houston Methodist have announced a significant leap forward for spinal cord injury recovery.

The researchers have developed a device that essentially bypasses spinal injuries, allowing signals from previously “lost” functions to reach the brain, a new study published in Nature Communications shows.

“Most current technologies try to improve whatever function remains after a spinal cord injury,” Dr. Damiano Barone, assistant professor of neurosurgery in the Department of Neurosurgery at Houston Methodist and co-lead on the study, said in a news release. “Our goal is different. Rather than fixing the injury itself, we want to bypass it completely and create an alternative route for signals to travel.”

The study involved a single ultrathin circumferential electrode array made to conform around the spinal cord without penetrating neural tissue, which was implanted into rodent and pig models with spinal injuries. The electrode array was able to interpret motor, sensory and autonomic signals around the injury. Think of it as a set of detours that restore road access to isolated towns after a disaster destroys the highway instead of just rebuilding the highway.

Over the course of three days, the arrays detected signals of intended movement from low-frequency spinal oscillations with more than 94 percent accuracy. This worked across species and was replicated in feasibility studies on human cadavers.

This research could serve as a new foundation for neuroprosthetic implants that could restore connectivity to the 2.5 million people worldwide suffering from spinal injuries that result in loss of ability. Future development could result in everything from restored organ function to mobility, according to Houston Methodist.

George Malliaras, the Prince Professor of Technology in the Department of Engineering at the University of Cambridge, who co-led the study, sees it as a fundamental restructuring of the science of spinal trauma.

“This could represent a paradigm change in how we think about spinal cord injuries,” Malliaras said. “Instead of starting from the idea that what is lost is gone forever, this approach asks whether we can restore function by carrying the signal around the injury.”

Further work involving laboratory models will need to be completed before launching human trials.

Grants from the National Institutes of Health, Houston Methodist Katz Investigator Award, Helaers Research Award and the Engineering and Physical Sciences Research Council helped support the study. Other collaborators on the study include Salim Hadwe, Ruben Serrano, George Psaltakis, Margaux Forner, Chaeyeon Lee, Sydney Swedick, Moleca Ghnnam, Tawfique Hasan and Alejandro Carnicer-Lombarte from the University of Cambridge; and Anton Banta and Xueer Zhang from Houston Methodist.

Abbott assembles expert team to help lure U.S. Space Academy to Texas

space race

State Rep. Greg Bonnen of Friendswood has been tapped to lead a new team that will promote Texas as the future home of the U.S. Space Academy.

Bonnen, a neurosurgeon, chairs Houston Physicians’ Hospital and the powerful Texas House Appropriations Committee. His House district is close to NASA’s Johnson Space Center.

Gov. Greg Abbott appointed the seven-member team. Last month, President Trump signed an executive order establishing the Presidential Commission on the U.S. Space Academy. Commission members, who held their first meeting this month, will recommend a permanent location for the academy.

Texas officials are pushing a site near Johnson Space Center to host the academy. Alabama, Colorado and Florida are among Texas’ competitors.

In a joint statement, U.S. Sen. Ted Cruz and U.S. Rep. Brian Babin, both of Texas, issued a statement backing the state’s bid for the academy. Cruz lives in Houston. Babbin lives in Woodville, about 55 miles south of Beaumont.

“America’s space program is built across the country, but Texas is where the pieces come together,” the lawmakers said. “We are ready to lead the next generation of space pioneers and look forward to showing why Texas is the right home for the U.S. Space Academy.”

The academy’s curriculum will include technical education, leadership development and public service components. Graduates will be set up for careers in the U.S. military, civil service, and aerospace sectors.

The Abbott-appointed team will work with the Texas Space Commission to prepare the state’s proposal for the academy.

In addition to Bonnen, team members with ties to Houston include:

  • Robert Ambrose, who grew up in Houston. He worked at Johnson Space Center before becoming associate director of the Texas A&M Space Institute.
  • Former NASA astronaut Nancy Curry-Gregg, director of the Texas A&M Space Institute. She earned a doctoral degree from the University of Houston and previously worked at Johnson Space Center.
  • Former NASA astronaut Jack Fischer, senior vice president of Houston-based Intuitive Machines. The company builds spacecraft, delivers payloads to the moon and launches satellites.

“Texas is the home of America’s human spaceflight program,” Abbott said in a release. “No state can match what Texas brings to this mission.”

“NASA’s Johnson Space Center, world-class universities, a premier commercial space industry, major military installations, and an unmatched aerospace workforce give Texas every asset the United States Space Academy requires,” the governor added.

Houston university named No. 10 in nation and more top innovation news

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Editor's note: September sees a flurry of news for the innovation community, with one Houston university topping a nationwide ranking and one Houston-area NASA contractor poised to go public. Here are the five most-read Houston innovation headlines published September 1-15, 2026:

Houston university ranks No. 10 best in the U.S. in new 2027 report

Education ranking and review website Niche has released its 2027 rankings of the best colleges in the U.S., and Rice University leads as the No. 1 best university in Texas, and No. 10 best nationwide. Rice University ranked 10th in three national lists: Best Colleges in America, Top Private Universities, and Colleges with the Best Professors. Continue reading.

Houston-area NASA contractor plans Nasdaq IPO

Webster-based NASA contractor Rothe Development Inc. has filed paperwork with the U.S. Securities and Exchange Commission to go public. Rothe, a minority- and woman-owned business, hasn’t yet identified how many shares it will sell and how much money its IPO might raise. Rothe plans to offer Class B common stock on the Nasdaq exchange. Continue reading.

10+ can't-miss Houston business and innovation events for September

The energy transition and AI will be the talk of this town this month, thanks to a packed calendar of Houston events. September brings the return of Houston Energy and Climate Startup Week and some of its signature anchor events, plus AI conferences and talks exploring how the technology is impacting everything from healthcare to leadership. Here’s what not to miss and how to register. Continue reading.

Amazon's robotaxi service Zoox rolls out in 'sprawling' Houston market

Amazon-owned robotaxi ride-hailing service Zoox is zooming into Houston in September, becoming the latest robotaxi operator jockeying for local riders. Initially, self-driving retrofitted SUVs with safety drivers on board will serve downtown Houston, centrally located tourist hotspots, and certain residential neighborhoods. The SUVs will test Houston roads before Zoox rolls out autonomous robotaxis here, the company says. Continue reading.

10 Houston billionaires land on Forbes' 2026 list of richest Americans

The richest billionaires in America have a collective worth of $8 trillion in 2026, a staggering $1.4 trillion increase since last year, says Forbes. American billionaires are so wealthy that it now takes an unprecedented $4.4 billion net worth to be considered one of the richest people in the country. And one local billionaire has regained the title as Houston's wealthiest resident. Oil tycoon Jeffery Hildebrand, 67, now reigns as the No. 1 richest Houstonian, the 9th richest Texan, and the 88th richest person in America for 2026. Continue reading.

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