3 Houston innovators to know this week

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This week's roundup of Houston innovators includes Stephanie Campbell of HAN and The Artemis Fund, Larry Lawson of Proxima Clinical Research, and Vanessa Wyche of the Johnson Space Center. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from medical device development to fintech — recently making headlines in Houston innovation.

Stephanie Campbell, managing director of the Houston Angel Network and general partner at The Artemis Fund

Local investment leader talks trends in Houston venture capital activity

Stephanie Campbell joins the Houston Innovators Podcast last week to share some trends in early-stage investing. Photo courtesy of HAN

There were so many question marks at the beginning of the pandemic, especially for startup funding. Stephanie Campbell, who manages the most active angel network as well as a venture capital fund, says no one was sure how anything was going to pan out. Now, looking back on last year, VC did ok, she says on the Houston Innovators Podcast, and the Houston Angel Network saw membership growth.

"I think that given the markets with quite a bit of liquidity, people were looking for new and interesting ways to invest and make a return," Campbell says on the podcast. "In 2020, we actually grew by 30 percent and are up to 130 members of the Houston Angel Network and are continuing to grow through 2021."

Campbell shares more of her observations on the show and what she's focused on next. Click here to read more and stream the episode.

Larry Lawson, co-founder of Proxima Clinical Research

Larry Lawson joined InnovationMap for a Q&A about his startup's recent exit, his role on the boards of five med device companies, his investment activity, and more. Photo courtesy of Larry Lawson

When Larry Lawson started his career in the medical device industry, it was hard to get funding. The health tech founder and investor says if it wasn't oil or real estate, banks couldn't understand well enough to make a loan. So, he bootstrapped, raised from friends and family, and found venture capital support for his business endeavors over the years. Now, he's celebrating a $1.4 billion exit of his last business, Preventice Solutions, a deal that closed earlier this year.

The ecosystem in Houston has changed, he says, and he's seen it evolve as the Texas Medical Center grew and the Rice Business Plan Competition brought impressive student innovators from all around the globe.

"The health science community here in Houston is now known all over the world," he tells InnovationMap. "It's gonna just continue to grow and develop, and I hope to be a part of continue to be a part of it." Click here to read more.

Vanessa Wyche, director of Johnson Space Center

Vanessa Wyche is the first Black woman to lead a NASA center. Photo courtesy of NASA

For the first time, NASA has a Black woman at the helm of a space center. Vanessa Wyche has been named director of Johnson Space Center in Houston after serving as acting director since May 3.

"Vanessa is a tenacious leader who has broken down barriers throughout her career," Pam Melroy, deputy administrator of NASA, says in a news release. "Vanessa's more than three decades at NASA and program experience in almost all of the human spaceflight programs at Johnson is an incredible asset to the agency. In the years to come, I'm confident that Houston will continue to lead the way in human spaceflight."

As director of Johnson Space Center, Wyche now leads more than 10,000 NASA employees and contractors. Click here to read more.

The SEC expanded its definition of accredited investors, so now is the time for potential venture capitalists and angels to step up. Pexels

Here's what the new SEC accredited investor definition means for potential Houston VCs

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This month. the Security and Exchange Commission, or SEC, modified the definition of "accredited investor," with the effect of dramatically increasing the number of people eligible to participate in non-publicly traded investments.

The SEC definition of accredited investor establishes requirements for who may invest in private deals, startups, and private funds. These rules are meant to protect individuals from investing in assets that are high risk and have little publicly accessible information.

Historically, accredited investor status was limited to those that met certain wealth or income thresholds — specifically, a net worth of $1 million excluding primary residence, or $200,000 in annual income for an individual or $300,000 combined annual income for married couples. The SEC's thinking was that higher net worth individuals or higher earners likely have the sophistication to evaluate the risks and the ability to financially withstand potentially losing money they invested in a private investment.

However, with fewer companies going public and an increased interest in participating in private deals, startups, and funds many have suggested the accredited investor rule appeared more and more antiquated.

The SEC's new definition adds individuals with certain professional certifications (Series 7, Series 65, or Series 82 license) and "knowledgeable employees" at private funds, regardless of an individual's level of wealth or income.

Now, individuals with heavy involvement in and responsibility for investment activities and those with financial certifications are assumed to have the financial sophistication and ability to assess the risks of private investments. The SEC also added the clients and employees of family offices, which are investment arms of high net worth families. In addition, the SEC also expanded the married couples' income calculation to include "spousal equivalent" to capture non-married couples.

It remains to be seen whether these additions to the definition of accredited investors will add a significant number of new angel investors, as many of the individuals with such certifications already meet the previous net worth or income requirements. The startup ecosystem, however, has welcomed the move away from wealth and income criteria, as a good first step toward opening the private offering markets to more qualified individuals.

If you now find yourself meeting any of these qualifications of accredited investor, what now? The Houston Angel Network is a great resource to help you navigate these new waters, by providing a framework and network to learn how to evaluate investment opportunities. A common rule of thumb is that nine out of ten startups fail and will return zero dollars to investors. It is prudent to invest in several startups or through a fund with experienced and capable managers to get the needed diversification to expect a return on your investment in this asset class.

Angel networks throughout the country exist to educate accredited investors and provide a network of sophisticated and experienced individuals across industries to support due diligence. By working together and learning from experienced investors, newly accredited investors can avoid common investment mistakes and can develop skills to evaluate non-public investment opportunities.

The upshot of the expansion of accredited investors is that the SEC still expects such investors to be sophisticated and well educated about investment opportunities with high risks and rewards. Investors new to non-public markets should consider joining a network like the Houston Angel Network, where they can see hundreds of startups a year and learn from experienced investors.

Additionally, new accredited investors can engage in the local startup community by volunteering their services as a mentor at a local startup development organization like the Ion, Rice Alliance, Capital Factory, Mass Challenge, Plug and Play and many more. If you are considering investing in startups or a fund, please reach out to us at the Houston Angel Network for more ways to get involved and learn.

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Stephanie Campbell is managing director of Houston Angel Network and co-founder of The Artemis Fund.

Over the past few years, the Houston Angel Network has doubled its members and continues to grow despite COVID-19's economic effects. Photo via Getty Images

Houston Angel Network sees membership growth amid pandemic

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While the COVID-19 pandemic caused some investors to hit pause on some deals, the Houston Angel Network, which has doubled its membership over the past couple years, has maintained its deal flow and investment, while taking every opportunity to connect members virtually.

"Nothing's really changed — in terms of our activity — other than the fact that we can't meet in person," says Stephanie Campbell, managing director of HAN. "We quickly pivoted to virtual."

Campbell — who also is also a founding partner at Houston-based, female-focused venture capital group, The Artemis Fund — says she still saw the interest and need on each side of venture deals.

"What I realized was, especially working at a venture fund, the deal flow isn't going away. Companies still need capital — and investors are still interested in looking at deals," Campbell tells InnovationMap.

HAN, which was founded as a nonprofit in 2001, continues to be touted as among the most active angel network in the country. The organization has five industry groups that it focuses its deals on — energy, life sciences, technology, consumer products, and aerospace.

At each monthly meeting, members hear three pitches. However, Campbell is vetting many more companies far more deals and passing them along the network as she goes. All in all, HAN investors do around 100 deals a year with an average investment of $100,000.

Since Campbell joined in 2018, membership has doubled from 60 members to 120. Campbell says it's her goal to get to 150 members by the end of the year.

Stephanie Campbell has led HAN as managing director since 2018.

"Despite COVID, we've continued to grow," Campbell says, adding that she's heard investors express that they have more time now to dive in. "People are very much still interested in learning about deploying their capital into early-stage venture. They're looking for a network of like-minded individuals."

Campbell explains that, with the switch to virtual pitches and events, HAN is congregating more than ever. In the spring, Campbell introduced a thought leadership series, called Venture Vs. The Virus, that brought investment leaders together to discuss how the pandemic was affecting venture capital.

HAN is also using this time to better tap into technology to connect members with startups. On the back end, Campbell says, she's looking to enhance digital engagement with members and also improve data reporting within the organization.

From increasing networking and educational events and growing membership, HAN is prioritizing growing its place in the Houston innovation ecosystem. Campbell says she sees the pandemic is causing investors and tech talent on the coasts to re-evaluate where their living, and that's going to benefit Texas. Houston is going to see an influx of tech talent coming to town, and that's going to translate to more startups being founded locally.

"We want to make sure that we are a big part of this transition toward a more diverse and resilient economy," Campbell says. "Now's the time to lean in on Houston."

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UH student earns prestigious award for cancer vaccine research

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Cole Woody, a biology major in the College of Natural Sciences and Mathematics at the University of Houston, has been awarded a Barry Goldwater Scholarship, becoming the first sophomore in UH history to earn the prestigious prize for research in natural sciences, mathematics and engineering.

Woody was recognized for his research on developing potential cancer vaccines through chimeric RNAs. The work specifically investigates how a vaccine can more aggressively target cancers.

Woody developed the MHCole Pipeline, a bioinformatic tool that predicts peptide-HLA binding affinities with nearly 100 percent improvement in data processing efficiency. The MHCole Pipeline aims to find cancer-specific targets and develop personalized vaccines. Woody is also a junior research associate at the UH Sequencing Core and works in Dr. Steven Hsesheng Lin’s lab at MD Anderson Cancer Center.

“Cole’s work ethic and dedication are unmatched,” Preethi Gunaratne, director of the UH Sequencing Core and professor of Biology & Biochemistry at NSM, said in a news release. “He consistently worked 60 to 70 hours a week, committing himself to learning new techniques and coding the MHCole pipeline.”

Woody plans to earn his MD-PhD and has been accepted into the Harvard/MIT MD-PhD Early Access to Research Training (HEART) program. According to UH, recipients of the Goldwater Scholarship often go on to win various nationally prestigious awards.

"Cole’s ability to independently design and implement such a transformative tool at such an early stage in his career demonstrates his exceptional technical acumen and creative problem-solving skills, which should go a long way towards a promising career in immuno-oncology,” Gunaratne added in the release.

Houston founder on shaping the future of medicine through biotechnology and resilience

Guest Column

Living with chronic disease has shaped my life in profound ways. My journey began in 5th grade when I was diagnosed with Scheuermann’s disease, a degenerative disc condition that kept me sidelined for an entire year. Later, I was diagnosed with hereditary neuropathy with liability to pressure palsies (HNPP), a condition that significantly impacts nerve recovery. These experiences didn’t just challenge me physically, they reshaped my perspective on healthcare — and ultimately set me on my path to entrepreneurship. What started as personal health struggles evolved into a mission to transform patient care through innovative biotechnology.

A defining part of living with these conditions was the diagnostic process. I underwent nerve tests that involved electrical shocks to my hands and arms — without anesthesia — to measure nerve activity. The pain was intense, and each test left me thinking: There has to be a better way. Even in those difficult moments, I found myself thinking about how to improve the tools and processes used in healthcare.

HNPP, in particular, has been a frustrating condition. For most people, sleeping on an arm might cause temporary numbness that disappears in an hour. For me, that same numbness can last six months. Even more debilitating is the loss of strength and fine motor skills. Living with this reality forced me to take an active role in understanding my health and seeking solutions, a mindset that would later shape my approach to leadership.

Growing up in Houston, I was surrounded by innovation. My grandfather, a pioneering urologist, was among the first to introduce kidney dialysis in the city in the 1950s. His dedication to advancing patient care initially inspired me to pursue medicine. Though my path eventually led me to healthcare administration and eventually biotech, his influence instilled in me a lifelong commitment to medicine and making a difference.

Houston’s thriving medical and entrepreneurial ecosystems played a critical role in my journey. The city’s culture of innovation and collaboration provided opportunities to explore solutions to unmet medical needs. When I transitioned from healthcare administration to founding biotech companies, I drew on the same resilience I had developed while managing my own health challenges.

My experience with chronic disease also shaped my leadership philosophy. Rather than accepting diagnoses passively, I took a proactive approach questioning assumptions, collaborating with experts, and seeking new solutions. These same principles now guide decision-making at FibroBiologics, where we are committed to developing groundbreaking therapies that go beyond symptom management to address the root causes of disease.

The resilience I built through my health struggles has been invaluable in navigating business challenges. While my early career in healthcare administration provided industry insights, launching and leading companies required the same determination I had relied on in my personal health journey.

I believe the future of healthcare lies in curative treatments, not just symptom management. Fibroblast cells hold the promise of engaging the body’s own healing processes — the most powerful cure for chronic diseases. Cell therapy represents both a scientific breakthrough and a significant business opportunity, one that has the potential to improve patient outcomes while reducing long-term healthcare costs.

Innovation in medicine isn’t just about technology; it’s about reimagining what’s possible. The future of healthcare is being written today. At FibroBiologics, our mission is driven by more than just financial success. We are focused on making a meaningful impact on patients’ lives, and this purpose-driven approach helps attract talent, engage stakeholders, and differentiate in the marketplace. Aligning business goals with patient needs isn’t just the right thing to do, it’s a powerful model for sustainable growth and lasting innovation in biotech.

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Pete O’Heeron is the CEO and founder of FibroBiologics, a Houston-based regenerative medicine company.


Houston researchers make headway on affordable, sustainable sodium-ion battery

Energy Solutions

A new study by researchers from Rice University’s Department of Materials Science and NanoEngineering, Baylor University and the Indian Institute of Science Education and Research Thiruvananthapuram has introduced a solution that could help develop more affordable and sustainable sodium-ion batteries.

The findings were recently published in the journal Advanced Functional Materials.

The team worked with tiny cone- and disc-shaped carbon materials from oil and gas industry byproducts with a pure graphitic structure. The forms allow for more efficient energy storage with larger sodium and potassium ions, which is a challenge for anodes in battery research. Sodium and potassium are more widely available and cheaper than lithium.

“For years, we’ve known that sodium and potassium are attractive alternatives to lithium,” Pulickel Ajayan, the Benjamin M. and Mary Greenwood Anderson Professor of Engineering at Rice, said in a news release. “But the challenge has always been finding carbon-based anode materials that can store these larger ions efficiently.”

Lithium-ion batteries traditionally rely on graphite as an anode material. However, traditional graphite structures cannot efficiently store sodium or potassium energy, since the atoms are too big and interactions become too complex to slide in and out of graphite’s layers. The cone and disc structures “offer curvature and spacing that welcome sodium and potassium ions without the need for chemical doping (the process of intentionally adding small amounts of specific atoms or molecules to change its properties) or other artificial modifications,” according to the study.

“This is one of the first clear demonstrations of sodium-ion intercalation in pure graphitic materials with such stability,” Atin Pramanik, first author of the study and a postdoctoral associate in Ajayan’s lab, said in the release. “It challenges the belief that pure graphite can’t work with sodium.”

In lab tests, the carbon cones and discs stored about 230 milliamp-hours of charge per gram (mAh/g) by using sodium ions. They still held 151 mAh/g even after 2,000 fast charging cycles. They also worked with potassium-ion batteries.

“We believe this discovery opens up a new design space for battery anodes,” Ajayan added in the release. “Instead of changing the chemistry, we’re changing the shape, and that’s proving to be just as interesting.”

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This story originally appeared on EnergyCapitalHTX.com.

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