LabReady ensures samples make it from the patient to the lab without compromising the quality of the sample. Photo via vaximmune.com

Houston-based Vax-Immune Diagnostics has commenced on a new multicenter clinical trial to roll out a specific lab test as a part of its LabReady product.

The 12-week study will analyze results from Group B Streptococcus lab tests in expecting mothers. Currently, 16 to 20 percent of pregnant women are affected by GBS, according to a news release, which will then infect their newborn through the childbirth process.

Vax-Immune's product, LabReady, enhances the transportation process of lab samples and aims to improve the quality of results in patients. The company is expected to report data from the trial this summer.

"Currently samples are not regulated through transport from the patient to the lab often causing inaccurate test results. And inaccurate test results can cause significant problems since medical decisions are based on these results," Dr. Leonard E. Weisman, president and chief technology officer at Vax-Immune Diagnostics, says in the release.

"Our device, LabReady collects, protects, processes, and prepares the sample from the patient through transport, so when it arrives at the laboratory, infection can easily and accurately be diagnosed."

This study is planned to randomize approximately 300 patients from 35 to 37 weeks of pregnancy, according to the release. GBS is the most common cause of infections such as sepsis, meningitis, and pneumonia among newborns. The Centers for Disease Control and Prevention, among other organizations, have launched efforts for screenings and tests to reduce cases of neonatal GBS disease.

Vax-Immune was a member of the Texas Medical Center's 2018 TMCx Medical Device cohort and pitched at the 7th TMCx Demo Day. The company is a JLABS @ TMC resident.

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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.

Texas university's new flight academy opens at Houston Spaceport

cleared for takeoff

The vehicles may not have “student driver” stickers on them, but Texas Southern University has moved a dozen planes into its new training facility at the Houston Spaceport, opening the way for student flyers to use the facility.

TSU previously reached a deal with Houston Airports and the City of Houston in 2023 to house its prospective Flight Academy at Ellington Field. At the time, TSU had a small fleet of nine planes for student use, but a $5.5 million investment from the city greatly expanded the space available.

The Flight Academy includes a 20,000-square-foot hangar that serves as a TSU satellite campus. The school now has a fleet of 12 Cirrus SR20 aircraft that were acquired last year through state and alumni funding. An additional 4,500 square feet is used as classroom and office space. An 8,000-gallon fuel tank will support flight training operations.

TSU first launched its Aviation Science Management program in 1986 and added a professional pilot program in 2016. The school is now part of the United Airlines pipeline program and has also forged relationships with Delta and Southwest.

“I want to commend Texas Southern University and Houston Airports for their leadership and partnership in advancing aviation education right here in our city,” Houston City Councilwoman Dr. Carolyn Evans-Shabazz in a press release.

“It connects our students to high-paying, high-demand careers in aviation and aerospace. This is how we grow a city in the right way—by investing in workforce development, aligning education with industry and making sure our residents are prepared to lead in the industries of tomorrow. Houston is already a global leader in aerospace and projects like this strengthen that position even further, especially here at Ellington, where innovation and opportunity continue to take flight.”

The City of Houston signed an agreement to continue funding the academy for five years.