Over 400 small businesses in the Houston area have been granted forgiveness for loans. Photo via Getty Images

The global pandemic has wreaked havoc on local small businesses; many have struggled without savings, credit, and capital to continue on during the downturn. For some immediate relief, Harris County and the Houston-Galveston Area Council (HGAC) offered some 444 area small businesses interest-free loans of up to $25,000 earlier this year.

The loans would be forgiven in five years, per the initial Harris County COVID-19 Forgivable Loan Program agreement.

Now, in some feel-good, holiday news, the loans have been converted into grants, thanks to federal CARES Act funding received by the county, according to a statement by Harris County and Houston-Galveston Area Council.

"Many of the owners have already made use of the funds they received. Knowing that they don't have to pay it back, that it's all theirs, gives them one less thing to worry about at a time when so many have been impacted," said Omar Fortune, manager of the Houston-Galveston Area Local Development Corporation (H-GALDC), in a statement. (The organization handled the underwriting process and distribution of loans to small businesses.)

"We're pleased to be able to provide this gift to these small businesses that are so important to our region. That it's happening during the holiday season makes it even more special."

Originally launched on April 9, the Harris County COVID-19 Forgivable Loan program distributed $10 million to the 444 small businesses by the summer. On October 6, Harris County approved the loan conversion to grants, according to a press release. Small businesses that had already begun paying back their loans have had their payments reimbursed by the county, according to HGAC.

Local business owners are "ecstatic" upon hearing the news, according to H-GAC. " This whole experience has been an emotional roller coaster, but I'm extremely positive about the future," said Museum District-area dentist, Dr. Randy Mitchmore, in a statement.

"I'm proud to own a small business, and we have a direct impact on the local community. I'm also grateful for this program and that it was able to help small businesses as intended."

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This article originally ran on CultureMap.

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Axiom Space-tested cancer drug advances to clinical trials

mission critical

A cancer-fighting drug tested aboard several Axiom Space missions is moving forward to clinical trials.

Rebecsinib, which targets a cancer cloning and immune evasion gene, ADAR1, has received FDA approval to enter clinical trials under active Investigational New Drug (IND) status, according to a news release. The drug was tested aboard Axiom Mission 2 (Ax-2) and Axiom Mission 3 (Ax-3). It was developed by Aspera Biomedicine, led by Dr. Catriona Jamieson, director of the UC San Diego Sanford Stem Cell Institute (SSCI).

The San Diego-based Aspera team and Houston-based Axiom partnered to allow Rebecsinib to be tested in microgravity. Tumors have been shown to grow more rapidly in microgravity and even mimic how aggressive cancers can develop in patients.

“In terms of tumor growth, we see a doubling in growth of these little mini-tumors in just 10 days,” Jamieson explained in the release.

Rebecsinib took part in the patient-derived tumor organoid testing aboard the International Space Station. Similar testing is planned to continue on Axiom Station, the company's commercial space station that's currently under development.

Additionally, the drug will be tested aboard Ax-4 under its active IND status, which was targeted to launch June 25.

“We anticipate that this monumental mission will inform the expanded development of the first ADAR1 inhibitory cancer stem cell targeting drug for a broad array of cancers," Jamieson added.

According to Axiom, the milestone represents the potential for commercial space collaborations.

“We’re proud to work with Aspera Biomedicines and the UC San Diego Sanford Stem Cell Institute, as together we have achieved a historic milestone, and we’re even more excited for what’s to come,” Tejpaul Bhatia, the new CEO of Axiom Space, said in the release. “This is how we crack the code of the space economy – uniting public and private partners to turn microgravity into a launchpad for breakthroughs.”