CrossBridge Bio, formed during the TMC Innovation’s Accelerator for Cancer Therapeutics program, closed a $10 million seed round led by TMC Venture Fund and CE-Ventures. Photo via Getty Images

A Houston biotech company based off research out of UTHealth Houston has raised seed funding to continue developing its cancer-fighting therapeutic.

CrossBridge Bio, formed during the TMC Innovation’s Accelerator for Cancer Therapeutics program, closed a $10 million seed round led by TMC Venture Fund and Crescent Enterprises' VC arm, CE-Ventures. The round also included participation from Portal Innovations, Alexandria Venture Investments, Linden Lake Labs, and several pre-seed investors.

“We are thrilled to have the support of such experienced investors who share our vision of bringing transformative cancer therapies to patients in need,” Michael Torres, CEO of CrossBridge Bio, says in a news release. Torres served as an entrepreneur in residence of ACT.

The company is working on the next-generation of antibody-drug conjugates (ADC) therapeutics that process dual payloads as targeted treatments for a set of challenging cancers. The innovative treatment is based on research from UTHealth experts Dr. Kyoji Tsuchikama and Dr. Zhiqiang An.

“Our dual-payload ADC technology is designed to deliver synergistic therapeutic effects using highly stable linkers that ensure payload release only within the targeted cancer cells, thereby maximizing their therapeutic effectiveness while minimizing the liabilities associated with uptake in unintended tissues, as seen with many of today’s cancer treatments," Torres continues.

He explains that the funding will toward advancing CrossBridge's first development candidate, CBB-120, into preclinical non-GLP toxicology studies in addition to derisking the company’s proprietary linker technology with dual-payload applications, per the release.

As a result of the raise, William McKeon, president and CEO of the Texas Medical Center, and Damir Illich, manager of life sciences of CE-Ventures, will join CrossBridge Bio’s board of directors.

“We are proud to back CrossBridge Bio in their mission to develop the next generation of cancer therapies,” McKeon says in the release. “Their dual-payload ADCs are designed to deliver targeted drug release within cancer cells with greater stability, precision, and control. These breakthrough advancements have the potential to change patients’ lives worldwide and we look forward to helping drive their development.”

Portal Innovations announced that Monique Knighten as an executive director in Houston. Photo via LinkedIn

Chicago life science innovation firm names Houston leader

who's who

After announcing its expansion into Houston last summer and opening its office in a new Texas Medical Center building, Portal Innovations has named its Houston leader.

Portal Innovations announced that Monique Knighten as an executive director in Houston in a LinkedIn post this week. She has over 15 years of experience in supporting research scientists and clinicians working to develop therapeutics in labs and clinics. According to her LinkedIn, she's served in the position since November.

Prior to her new role at Portal, Knighten worked as a manager level at Sartorius Stedim in Houston for five years. Before that role, she served as a technical sales consultant in Texas at Miltenyi Biotec, primarily in the immuno-oncology therapeutic market in the TMC.

Portal first announced its expansion into Houston in June of last year.

“Houston is one of the fastest-growing cities in the U.S., and home to one of the world’s leading cancer research institutions, The University of Texas MD Anderson Cancer Center,” Portal’s Founder and CEO John Flavin said at the time. “It’s critical for us to open in Texas and leverage nearby pipelines from Rice University, UTHealth Houston, Texas A&M, University of Houston, Baylor College of Medicine, and others across Houston’s innovative life sciences ecosystem. We’re thrilled to work with TMC to help grow tomorrow’s biotech and medtech leaders.”

Portal's local office is in the Helix Park complex's Collaborative Building, which opened in October. Helix Park is a 37-acre mixed-use campus currently under construction. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo by Natalie Harms

Texas Medical Center opens first building in massive Helix Park project

tmc3

For nearly a decade, the Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

The TMC3 Collaborative Building officially opened today to a crowd of media, public officials, and health care executives. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

“Today, we lay the cornerstone of a new campus fully dedicated to streamlining the commercialization of life-changing innovations in medicine and technologies,” William McKeon, president and CEO of TMC, says at the event. “We are incredibly excited to both welcome our founding institutions and industry partners to the Collaborative Building and to invite the community to experience the Helix Park campus and its beautiful parks with a series of special events in the months ahead."

Established to be a place for academic institution collaboration, the building — designed by Boston-based Elkus Manfredi Architects — will have wet laboratories, office space, and event facilities. Two venture groups — Portal Innovations and the TMC Venture Fund — will also move into the building.

Each institution will bring in select programs and initiatives. MD Anderson will house two institutions within the new building, including the James P. Allison Institute focused on immunotherapy and the Institute for Data Science in Oncology.

"The future of life sciences in Houston is brighter than ever before as we come together to officially open the TMC3 Collaborative Building,” Dr. Peter WT Pisters, president of MD Anderson, says. “Our clinicians and scientists work daily to advance innovations in cancer research and care – all of which will be amplified in this new environment within Helix Park that further cultivates collaboration, connectivity, and creativity.”

UTHealth will move its Texas Therapeutics Institute into the facility.

“With a shared commitment to improving the health and well-being of individuals and communities, we are bringing together academics and industry to accelerate discovery and medical breakthroughs,” Dr. Giuseppe N. Colasurdo, president and Alkek-Williams Distinguished Chair at UTHealth Houston, says. “Through the Texas Therapeutics Institute — already a signature collaborative enterprise at UTHealth Houston — our world-renowned leaders in therapeutic antibody development will have the opportunity to work closely with other leading researchers in the Texas Medical Center, greatly enhancing our collective ability to translate discoveries and ideas into effective treatments.”

Texas A&M, which has worked with Houston Methodist to develop its engineering medical program, will operate its Texas A&M Health’s Institute of Biosciences and Technology in the new space.

“As we open this state-of-the-art facility, we’re opening the door to a new era of collaboration. This building signifies the dismantling of silos to deliver game-changing therapies for the toughest diseases impacting Texans and citizens worldwide,” said John Sharp, Chancellor of The Texas A&M University System. “Texas A&M Health’s Institute of Biosciences and Technology has long been a trailblazer in drug discovery, and now, in the heart of this resource-rich ecosystem of the Texas Medical Center, we’re taking it up a notch. By positioning our scientists near their peers and esteemed clinicians, we’re igniting a spark that will fuel innovation and forge dynamic research programs.”

The next aspect of Helix Park to deliver will be the Dynamic One, a 700,000-square-foot industry research facility. Several other buildings, including a hotel, residential tower, and mixed-use building, are expected to deliver over the next few years. The "spine" of the project is six linked green spaces, designed by landscape architect Mikyoung Kim, that form an 18.7-acre campus, which is shaped like a DNA helix, hence the project's name.

At the opening event, leaders discussed the annual impact of over $5.4 billion expected after the campus is completed, and the 23,000 permanent new jobs and 19,000 construction jobs anticipated from Helix Park.

"Texas truly is the home of innovation. Our energy innovations are legendary, as are our innovations in space," says Texas Governor Greg Abbott, naming several of the state's innovative accomplishments. "Long before all of this innovation we're seeing now, Texas was the home of the Texas Medical Center."

Mayor Sylvester Turner spoke to the importance of collaboration.

"Individually, you can do things very well. Collectively, you can be transformational," he says. "One thing about this city, collaboration is the key. When we play well together, and when we build an integrated, robust ecosystem, everyone wins. That's Houston, and that's the way we operate."

A venture capital firm specializing in the life science sector revealed its plans to move into Houston. Rendering courtesy of TMC

Life science investment firm announces expansion into Houston

coming soon

A Chicago-based life science investment firm has announced its expansion into Houston.

Portal Innovations released the news today that it will move into 30,000 square feet of lab and office space in Texas Medical Center's new Helix Park complex's Collaborative Building. Helix Park is a 37-acre mixed-use campus currently under construction. The firm is expected to make the move in the secord quarter of next year.

Portal, along with its capital partners Beacon Capital and ZoE Life Sciences, is expanding into Houston to tap into the more than 4,800 biotech companies that are associated with TMC, per a news release.

“Houston is one of the fastest-growing cities in the U.S., and home to one of the world’s leading cancer research institutions, The University of Texas MD Anderson Cancer Center,” says Portal’s Founder and CEO John Flavin in the release. “It’s critical for us to open in Texas and leverage nearby pipelines from Rice University, UTHealth Houston, Texas A&M, University of Houston, Baylor College of Medicine, and others across Houston’s innovative life sciences ecosystem. We’re thrilled to work with TMC to help grow tomorrow’s biotech and medtech leaders.”

For TMC's community, the move means connecting Portal with its network of institutions for mentorship, events, networking, and more.

"TMC has steadily been building an innovation ecosystem in Houston through initiatives like the TMC Venture Fund, our incubator programs, and our global BioBridge relationships," says Bill McKeon, CEO of TMC, in the release. “In Portal, we have a partner with a proven track record of leveraging venture capital funding, expert partners, and strong programming to support dynamic, entrepreneurial businesses at pivotal moments of their growth. We look forward to building on our collective expertise and shared vision to further support the breakthroughs of early-stage life science ventures.”

The TMC3 Collaborative Building is the first completed building expected from the Helix Park development, along with the Dynamic One building anchored by Baylor College of Medicine. Both of which were originally slated to deliver later this year when the project details were revealed in 2022.

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Houston doctor aims to revolutionize hearing aid industry with tiny implant

small but mighty

“What is the future of hearing aids?” That’s the question that led to a potential revolution.

“The current hearing aid market and technology is old, and there are little incremental improvements, but really no significant, radical new ideas, and I like to challenge the status quo,” says Dr. Ron Moses, an ENT specialist and surgeon at Houston Methodist.

Moses is the creator of NanoEar, which he calls “the world’s smallest hearing aid.” NanoEar is an implantable device that combines the invisibility of a micro-sized tympanostomy tube with more power—and a superior hearing experience—than the best behind-the-ear hearing aid.

“You put the NanoEar inside of the eardrum in an in-office procedure that takes literally five minutes,” Moses says.

As Moses explains, because of how the human cochlea is formed, its nerves break down over time. It’s simply an inevitability that if we live long enough, we will need hearing aids.

“The question is, ‘Are we going to all be satisfied with what exists?’” he asks.

Moses says that currently, only about 20 percent of patients who need hearing aids have them. That’s because of the combination of the stigma, the expense, and the hassle and discomfort associated with the hearing aids currently available on the market. That leaves 80 percent untapped among a population of 466 million people with hearing impairment, and more to come as our population ages. In a nearly $7 billion global market, that additional 80 percent could mean big money.

Moses initially patented a version of the invention in 2000, but says that it took finding the right team to incorporate as NanoEar. That took place in 2016, when he joined forces with cofounders Michael Moore and Willem Vermaat, now the company’s president and CFO, respectively. Moore is a mechanical engineer, while Vermaat is a “financial guru;” both are repeat entrepreneurs in the biotech space.

Today, NanoEar has nine active patents. The company’s technical advisors include “the genius behind developing the brains in this device,” Chris Salthouse; NASA battery engineer Will West; Dutch physicist and audiologist Joris Dirckx; and Daniel Spitz, a third-generation master watchmaker and the original guitarist for the famed metal band Anthrax.

The NanoEar concept has done proof-of-concept testing on both cadavers at the University of Antwerp and on chinchillas, which are excellent models for human hearing, at Tulane University. As part of the TMC Innovation Institute program in 2017, the NanoEar team met with FDA advisors, who told them that they might be eligible for an expedited pathway to approval.

Thus far, NanoEar has raised about $900,000 to get its nine patents and perform its proof-of-concept experiments. The next step is to build the prototype, but completing it will take $2.75 million of seed funding.

Despite the potential for making global change, Moses has said it’s been challenging to raise funds for his innovation.

“We're hoping to find that group of people or person who may want to hear their children or grandchildren better. They may want to join with others and bring a team of investors to offset that risk, to move this forward, because we already have a world-class team ready to go,” he says.

To that end, NanoEar has partnered with Austin-based Capital Factory to help with their raise. “I have reached out to their entire network and am getting a lot of interest, a lot of interest,” says Moses. “But in the end, of course, we need the money.”

It will likely, quite literally, be a sound investment in the future of how we all hear the next generation.

Houston VC funding surged in Q1 2025 to highest level in years, report says

by the numbers

First-quarter funding for Houston-area startups just hit its highest level since 2022, according to the latest PitchBook-NVCA Venture Monitor. But fundraising in subsequent quarters might not be as robust thanks to ongoing economic turmoil, the report warns.

In the first quarter of 2025, Houston-area startups raised $544.2 million in venture capital from investors, PitchBook-NVCA data shows. That compares with $263.5 million in Q1 2024 and $344.5 million in Q1 2023. For the first quarter of 2022, local startups nabbed $745.5 million in venture capital.

The Houston-area total for first-quarter VC funding this year fell well short of the sum for the Austin area (more than $3.3 billion) and Dallas-Fort Worth ($696.8 million), according to PitchBook-NVCA data.

While first-quarter 2025 funding for Houston-area startups got a boost, the number of VC deals declined versus the first quarters of 2024, 2023 and 2022. The PitchBook-NVCA Monitor reported 37 local VC deals in this year’s first quarter, compared with 45 during the same period in 2024, 53 in 2023, and 57 in 2022.

The PitchBook-NVCA report indicates fundraising figures for the Houston area, the Austin area, Dallas-Fort Worth and other markets might shrink in upcoming quarters.

“Should the latest iteration of tariffs stand, we expect significant pressure on fundraising and dealmaking in the near term as investors sit on the sidelines and wait for signs of market stabilization,” the report says.

Due to new trade tariffs and policy shifts, the chances of an upcoming rebound in the VC market have likely faded, says Nizar Tarhuni, executive vice president of research and market intelligence at PitchBook.

“These impacts amplify economic uncertainty and could further disrupt the private markets by complicating investment decisions, supply chains, exit windows, and portfolio strategies,” Tarhuni says. “While this may eventually lead to new domestic investment and create opportunities, the overall environment is facing volatility, hesitation, and structural change.”