Houston medtech accelerator announces inaugural cohort

future of health care

Five companies have been selected for a brand new accelerator program in Houston. Image via Getty Images

A Houston medical technology organization has announced the inaugural cohort of a new early-stage accelerator.

M1 MedTech, launched this year by Houston-based Proxima Clinical Research, announced its Fall 2022 cohort.

“This initial cohort launches M1 MedTech with an interactive 14-week agenda covering the basics every emerging MedTech business needs to progress from a startup to an established solution in their market,” says Sean Bittner, director of programs at M1 MedTech, in a news release.

The accelerator will equip early-stage startups with storytelling, business plan support, investor connections, FDA guidance, research, and more through one-on-one consultations, workships, and in-kind services.

The first cohort includes five startups, per the release from the company:

  1. Linovasc. Providing a long overdue major update to balloon angioplasty devices in over 50 years, the Linovasc solution offers a safer branch occlusion and aortic stent dilatation using a toroidal balloon that expands the aorta uniformly without the ischemia caused by current treatments. The company is founded by Bruce Addis.
  2. Grapheton. Founded by Sam Kassegne and Bao Nguyen, Grapheton's patented carbon materials work with electrically active devices to improve the longevity and outcome of bioelectric implants in the body. Terry Lingren serves as the CEO of the startup.
    • Rhythio Medical. Founded by Kunal Shah and Savannah Esteve, Rhythio is the first preventative approach to heart arrhythmias.The chief medical officer is Dr. Mehdi Razavi.
      • PONS Technology. An AI cognitive functioning ultrasound device attempting to change the way ultrasound is done, PONS is founded by CEO: Soner Haci and CTO: Ilker Hacihaliloglu.
        • Vivifi Medical. Founded by CEO Tushar Sharma, Vivifi is the first suture-less laparoscopic technology that connects vessels to improve male infertility and benign prostatic hyperplasia. The company's senior R&D engineer is Frida Montoya.

          The program includes support from sponsors and experts from: Proxima Clinical Research, Greenlight Guru, Medrio, Galen Data, Merge Medical Device Studio, Venn Negotiation, Engagement PR & Marketing, Aleberry Creative, and others.

          “This is an amazing opportunity for emerging founders to learn the progression of pipelining their ideas through the FDA and absorb the critical strategies for success early in their business development,” says Isabella Schmitt, principal at M1 MedTech and director of regulatory affairs at Proxima CRO, in the release.

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          $12M pharmaceutical manufacturing facility to be built in Sugar Land

          coming soon

          A nearly $12 million drug manufacturing facility is coming to Sugar Land.

          City leaders in Sugar Land recently approved a $1.3 million performance-based incentive for DeliverIt Group, a Sugar Land-based provider of specialty pharmacy, infusion therapy and clinical care services, for the development of the 60,000-square-foot facility.

          The facility, which will be registered with the U.S. Food and Drug Administration (FDA), will compound medication. The process of drug compounding combines, mixes or alters ingredients to create a medication tailored to a certain patient. A compounded drug is created when an FDA-approved drug can’t meet a patient’s needs.

          The facility, which will employ 55 people, will expand DeliverIt’s offerings from specialty pharmacy and infusion services to advanced pharmaceutical manufacturing. In a press release, the City of Sugar Land says the facility reinforces the suburb’s status as a hub for life sciences and health care innovation.

          DeliverIt, founded in 2010, already employs about 60 people.

          The $1.3 million incentive, to be distributed over the course of 10 years, is being funded through the Sugar Land Development Corporation’s 4A sales tax program.

          “The addition of a pharmaceutical manufacturing operation of this caliber reflects the type of targeted growth we want to see in Sugar Land,” Jennifer Alexander, business development manager for the City of Sugar Land, said in a news release. “Our focus on smart, strategic investment means supporting life sciences innovators in ways that maximize existing assets while driving long-term community prosperity.”

          The current size of the U.S. drug-compounding market is estimated at $7.42 billion, and it’s projected to climb to $12.79 billion by 2035, according to Towards Healthcare Research and Consulting.

          Drug compounding is gaining momentum due to increases in personalized medicine and personal treatment approaches, with growth being supported by aging populations and the rise of chronic illnesses, Towards Healthcare says.

          XSpace plans $250M industrial condo expansion with RAFA Racing Club

          growth mode

          Houston-based XSpace Group has teamed up with two other Houston companies, RAFA Racing Club and Maximo Capital, to develop five industrial condo projects that pair flex space and high-end car storage space with a members-only clubhouse for motorsports enthusiasts.

          The five projects will be built in the Dallas-Fort Worth; Miami-Boca Raton; Charlotte-Mooresville, North Carolina; Phoenix-Scottsdale; and Los Angeles markets. Other markets, including Las Vegas, are under consideration for future phases.

          XSpace says the initial five-project venture will generate estimated sales of $250 million. Condos will be available to rent or own.

          The ground floor of each project will feature a RAFA Racing Club Social & Performance Centre, a members-only clubhouse, event space and lifestyle hub. The remaining floors will offer space for car storage, collectibles, offices and studios. RAFA will operate the ground floor of each building.

          “Our goal from day one with RAFA Racing has been to connect people through a shared love of performance and community,” Rafael Martinez, founder of RAFA Racing Club and principal of Maximo Capital, said in a news release. “By pairing XSpace’s forward-thinking condominium design with the exclusive hospitality, networking and high-performance environment of a RAFA Racing Club clubhouse, we’re establishing a community blueprint where passion meets community.”

          Each clubhouse will offer:

          • Lounges
          • Dining, working and networking spaces
          • Concierge service
          • Driving simulators
          • Fitness and conditioning capabilities

          “We’re building the most valuable community-driven real estate product in America — and RAFA Racing Club is the anchor that makes it unlike anything else on the market," Byron Smith, founder of XSpace, added in a release. “By integrating our flexible, high-end industrial condominiums with RAFA’s world-class hospitality and automotive community spaces, we are completely redefining what commercial real estate can be for the motorsports enthusiast.”

          RAFA operates facilities for motorsports fans in Houston and Austin. The clubs, geared toward wealthy people, entrepreneurs, executives, and brand partners, combine a clubhouse, garage, paddock (racing’s version of a locker room), a “human performance” center and driver training programs.

          RAFA plans to open seven clubs in the U.S. and three outside the U.S. over the next four years.

          XSpace operates a high-end office, warehouse, and lifestyle condo project in Austin and is building a project in Houston that’s set to open in 2027.

          Walmart expands drone delivery service to 8 new Houston-area stores

          Now Landing

          More Walmart delivery drones are now buzzing around Houston-area skies.

          In January, Walmart launched its drone delivery service in partnership with Wing at five locations in the Houston area. The retail giant just added eight more stores to its Houston-area drone delivery network.

          Wing says the expansion makes drone delivery available to more than 1 million residents of the Houston area. “Many can now bypass notorious Houston traffic to get everyday Walmart essentials delivered by drone in minutes,” Wing said in a release.

          The eight Walmart stores that joined the drone delivery network are:

          • 13003 Tomball Pkwy. Houston
          • 12353 FM 1960 Rd. West, Houston
          • 2901 Riley Fuzzel Rd., Spring
          • 20310 U.S. Highway 59, New Caney
          • 1025 Sawdust Rd., Spring, TX 77380
          • 13484 Northwest Fwy., Houston, TX
          • 13750 East Fwy., Houston
          • 3506 Highway 6 South, Houston

          Stores where drone delivery was already available are:

          • 14215 FM 2100 Rd., Crosby
          • 1313 N. Fry Rd., Katy
          • 15955 FM 529 Rd., Houston
          • 255 FM 518, Kemah
          • 6060 N. Fry Rd., Katy

          Houstonians can learn whether their address is eligible for drone delivery from a Walmart store by visiting wing.com/walmart. Drone-delivered orders can be placed on the Walmart app, the Wing app, or at Walmart.com.

          Once an order is ready, it’s loaded onto a delivery drone. The drone then flies up to 60 mph and at a cruising altitude of about 150 feet to reach the customer’s home. The average flight takes less than 5 minutes.

          Once it arrives at the customer’s home, the drone stops, hovers at roughly 23 feet, and lowers the order via a tether. Wing says its drones gently lower orders to the ground to protect fragile items like eggs and coffee.

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          This article originally appeared on CultureMap.com.

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