Houston health tech startup scores $2.5M SBIR grant to advance unique cell therapy AI technology

fresh funding

CellChorus created a visualization AI program that helps scientists to better understand the functioning of cells, including their activation, killing and movement. Photo via Getty Images

A Houston biotech company just announced a new award of $2.5 million.

CellChorus, a spinoff of the Single Cell Lab at the University of Houston, announced the fresh funding, which comes from an SBIR (Small Business Innovation Research) grant from the National Institute of Health (NIH) through its National Center for Advancing Translational Sciences (NCATS).

CellChorus is the business behind a technology called TIMING, which stands for Time-lapse Imaging Microscopy In Nanowell Grids. It’s a visualization AI program that helps scientists to better understand the functioning of cells, including their activation, killing and movement. This more in-depth knowledge of immune cells could be instrumental in developing novel therapies in countless disorders, including cancers and infectious diseases.

“While many cell therapies have been approved and are in development, the industry needs an integrated analytical platform that provides a matrix of functional readouts, including cell phenotype and metabolism on the same cells over time,” Rebecca Berdeaux, vice president of science at CellChorus, says in a press release. “We are grateful to NCATS for its support of the development of application-specific kits that apply dynamic, functional single-cell analysis of immune cell phenotype and function. The product we will develop will increase the impact of these therapies to improve the lives of patients.”

A two-year, $2.1 million Phase II grant will begin after the company achieves predetermined milestones under a $350,000 Phase I grant that is currently taking place. As Berdeaux explained, the funds will be used to develop TIMING kits which will manufacture analytics that provide end-users with rapid, specific and predictive results to accelerate translational research and the development and manufacture of more effective cell therapies.

TIMING is more than a great idea whose time has yet to come. It has already been proven in great depth. In fact, last June, CellChorus CEO Daniel Meyer told InnovationMap that he was initially attracted to the technology because it was “very well validated.” At the time, CellChorus had just announced a $2.3 million SBIR Fast-Track grant from the National Institute of General Medical Sciences. The company also went on to win an award in the Life Science category of the 2023 Houston Innovation Awards.

That confirmation of success comes from more than 200 peer-reviewed papers that describe myriad cell types and types of therapy, all of which used data from TIMING assays. TIMING data has benefited industry leaders in everything from research and clinical development to manufacturing. With the new grant, TIMING will become more widely available to scientists making important discoveries relating to the inner workings of the cells that drive our immunity.

CardioOne, which built a physician enablement platform for independent cardiologists, has been acquired by WindRose Health Investors. Photo via cardioone.com

Houston cardiology-focused tech platform exits to private equity, plans to scale

making moves

A Houston health tech startup founded only last year has exited to a New York private equity firm.

CardioOne, which built a physician enablement platform for independent cardiologists, has been acquired by WindRose Health Investors. The complete terms of the deal were not disclosed, but according to a WindRose news release, the firm will provide up to $100 million of additional capital to go toward supporting CardioOne's growth.

The fresh influx of capital will go toward expanding and enhancing existing service options. The CardioOne leadership team will continue to be at the helm of the startup.

"We are excited for the opportunity to partner with WindRose as CardioOne embarks on its next chapter of growth," Dr. Jasen Gundersen, CardioOne's CEO and co-founder, says in the release. "We believe that working with WindRose, which has a history of successfully partnering with companies to help navigate the transition to value-based care, will empower us to continue supporting independent cardiologists while developing additional solutions that maximize each practice's potential in the shift to VBC arrangements."

Last year, CardioOne raised an $8 million seed round and announced key partnerships at clinics in New Jersey, Florida, and Pennsylvania, in addition to existing relationships in Texas and Maryland. CardioOne also partnered with MedAxiom, an organizational performance solutions provider in the industry.

"CardioOne's unique, physician-aligned model meets the market where it is and positions the Company to take advantage of the growing desire among cardiologists to maintain their independence," Oliver Moses, managing partner with WindRose, adds. "We believe CardioOne delivers a compelling tech-enabled offering to the independent cardiology market and has significant growth potential as the Company builds upon its momentum in 2023. We are excited to join forces with Jasen and his team as they continue to build upon the differentiated platform they have created."

Rosarium Health, a member of the Texas Medical Center's 2023 Accelerator for HealthTech cohort, has raised pre-seed funding. Photo courtesy of TMC

Health tech startup raises $1.7M, plans Houston HQ

eyes on hou

A health tech startup that just collected $1.7 million in pre-seed funding aims to eventually plant its headquarters in Houston.

The startup, Rosarium Health, currently has no headquarters; its 10 employees work remotely from various locations. However, co-founder and CEO Cameron Carter — who lives in the Denver area — says the company is eyeing a future headquarters in Houston.

“We believe Houston is the best city to launch a health care startup, given the Texas Medical Center, diverse talent across health and technology, affordable living, and a city with supportive and progressive communities,” Carter tells InnovationMap. “We feel Houston offers meaningful attributes that can enable a high-growth startup to succeed and for its employees to feel safe.”

Rosarium, founded in 2021 as Rose Health, is a 2023 participant in the Texas Medical Center’s Accelerator for HealthTech program. Last year, the company received $60,000 as a winner in the National Institute on Aging’s Healthy Aging Start-Up Challenge and Bootcamp, designed to foster diversity and innovation.

Rosarium’s AI-powered platform connects home contractors and occupational therapists with clients to carry out accessibility projects in households occupied by seniors and people with disabilities. The startup launched its offering in the Houston area with a focus on multigenerational households.

“Our homes are our sanctuaries, but for people with mobility issues, inaccessible spaces can cause frustration, unsafe living conditions, and a loss of dignity,” Carter says in a news release. “Interest in creating accessible living spaces is growing among everyday people, service providers, and professional investors.”

Carter says the $1.7 million in new funding will enable his company to add employees as it seeks to broaden its reach in Texas and expand to other states. The money also will help efforts to recruit bilingual and trilingual contractors.

Primetime Partners and Rock Health Capital led the round, with participation from Tundra Ventures, Flare Capital Partners, Sequential Ventures, Groundbreak Ventures, and several angel investors.

“We will begin developing our enterprise product with a goal to partner with health plans and accountable care organizations in 2024,” he says.

Carter has worked in the health care industry since 2014. Joseph Akoni, Rosarium’s co-founder and chief product officer, has a background in product management.

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Houston investment firm closes $1.5B fund to fuel energy transition

capital for the future

A Houston-based energy transition-focused growth capital firm announced the close of its second fund to the tune of $1.5 billion.

EnCap Energy Transition's Fund II, or EETF II, was created to invest in solutions to decarbonize the power industry, and invest in low carbon fuels and carbon management.This second energy transition fund follows EnCap Energy Transition Fund I, a $1.2 billion fund that deployed capital to seven material portfolio company investments and four fund realizations with Broad Reach Power, Jupiter Power, Triple Oak, and Paloma Solar & Wind.

Previously, the company made investment commitments to five portfolio companies through EETF II, including Bildmore Renewables, Linea Energy, Parliament Solar, Power Transitions, and Arbor Renewable Gas. With the Bildmore arm, the EnCap fund aims to fuel development of renewable energy projects that can’t attract traditional tax equity financing.

EnCap expects to have 8-10 portfolio companies in EETF II in total.

"The EnCap Energy Transition team is proud to have raised a sizeable pool of capital to continue to invest in the opportunity created by the shift to a lower-carbon energy system,” EnCap Energy Transition Managing Partner Jim Hughes says in a news release.

“We greatly appreciate the strong support from our existing investor base and are pleased to have added a number of new, high-quality investors, both domestically and internationally," he continues. "Since our inception in 2019, we now manage approximately $2.7 billion of capital commitments to invest in decarbonization and are excited for the opportunities ahead of us."

Recently, EnCap was part of a deal in the battery energy storage business carrying an equity value of more than $1 billion. Engie purchased the majority of a startup . Broad Reach’s battery storage business from EnCap Energy Transition Fund I. Broad Reach launched in 2019 with backing from EnCap.

“We continue to believe all sources of energy are needed to support the world’s growing energy needs and that our Energy Transition Team will build off the significant success achieved to date,” said EnCap Managing Partner Jason DeLorenzo in a news release.

Houston school named among 'New Ivies' on Forbes list

top of class

Rice University has hit Ivy League status — at least according to Forbes.

A new list from Forbes has identified 10 public and 10 private schools that churn out top graduates, and Rice University makes the cut.

“We are delighted to see Rice University recognized as one of America’s producers of great talent. Rice has been a recruiting destination for employers for many years and that is because Rice students are adaptable, curious, bright and are solution oriented,” Nicole Van Den Heuvel , executive director of the Center for Career Development, says in a news release from Rice.

“We know, anecdotally, that Rice students thrive in workplaces because they are motivated learners, team players and problem solvers,” Van Den Heuvel continues. “Employers seek diverse talent and skill sets, and Rice students nurture career competencies throughout their time at Rice and post grad.”

The report evaluated 1,743 colleges of at least 4,000 students and looked at admissions data from 2022. The process then eliminated schools with admission rates above 20 percent for private institutions and 50 percent for public universities, narrowing down the pool of schools to 32. Then, Forbes surveyed hiring managers about the remaining candidates to decide on the 20 universities.

The University of Texas at Austin, the only other Texas school represented in the report, made the list of public schools. The full lists are available online.

Houston Airports lines up $30 million for restroom renovations, including tech upgrades

coming soon

Houston Airports is making a major investment in helping travelers take care of one of their most basic needs. Over the next two years, the agency will invest $30 million in upgrading the bathrooms at George Bush Intercontinental Airport (IAH) and at William P. Hobby Airport (HOU).

The money will be used to upgrade restrooms throughout Hobby and at IAH’s Terminals A and D. Houston Airports notes the restrooms at IAH are about 20 years old. Houston Mayor John Whitmire had made the upgrades one of his priorities.

Plans for the renovations include replacing floors, walls, stalls, lighting, sinks, and counters. The new stalls will be larger, with enough room for a carry-on suitcase and a shelf to hold a person’s bag, and will better comply with ADA regulations. Even better, occupancy sensors for each stall will mean not having to look for feet when trying to determine if one is available.

“Houston Airports joins Mayor Whitmire in a shared strategic priority to make our passengers happy. Earlier this year, the mayor challenged Houston Airports to prioritize the renovation of our aging restrooms at both airports,” Houston Airports director of aviation Jim Szczesniak said in a statement. “We are committed to exceeding expectations and ensuring that Houston Airports offers a world-class travel experience for all passengers. The restroom renovation project is a significant step forward in achieving that goal.”

Overall, the upgrades will include:
  • IAH Terminal A: 18 restrooms, seven family restrooms, and a companion care changing room
  • IAH Terminal D: Five restrooms, one restroom in the Mother’s Room
  • HOU: 9 restrooms each in Departures and the Ticketing Lobby

A $10 million grant from the FAA will help subsidize the cost of the renovations.

As for IAH Terminals B, C, and E, United has agreed to upgrade them as well. Last year, United and Houston Airports agreed to invest $2.6 billion to upgrade Terminal B.

"In 2023, Houston Airports welcomed a record 60.1 million passengers, with a vast majority flying through Bush Airport,” Szczesniak added. “It’s imperative that Houston Airports continue improve existing infrastructure to meet increasing demand while aligning our terminals to meet the modern and sustainable design of the new IAH international terminal. The end result of these projects will be a more resilient and sustainable airport system that delivers an efficient passenger experience from curb to gate.”

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This article originally ran on CultureMap.

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