Exclusive: 2 Houston health care institutions team up to develop cancer-fighting treatments

collaboration station

Fannin Partners and the University of Texas MD Anderson Cancer Center have teamed up to develop drugs based on Raptamer, the creation of Fannin company Radiomer Therapeutics. Photo via Getty Images

Two Houston organizations announced a new collaboration in a major move for Houston’s biotech scene.

Fannin Partners and the University of Texas MD Anderson Cancer Center have teamed up to develop drugs based on Raptamer, the creation of Fannin company Radiomer Therapeutics.

“Raptamers combine antibody level affinities with desirable physical and pharmacokinetic properties, and a rapid path to clinic,” Dr. Atul Varadhachary, CEO of Radiomer Therapeutics and Fannin managing partner, Varadhachary, explained to InnovationMap in May. “We are deploying this unique platform to develop novel therapies against attractive first-in-class oncology targets.”

The pairing of Fannin and MD Anderson makes perfect sense. Researchers at the institution have already identified novel markers that they will target with both Raptamer-based drugs and radiopharmaceutical/radioligand therapies.

“MD Anderson and Fannin bring highly complementary capabilities to the identification of novel cancer targets and Raptamer-based drug discovery,” says Varadhachary in a press release. “Our collaboration will enable us to rapidly develop targeted therapeutics against novel targets, which we hope will offer hope to patients with progressive cancers.”

Early in this meeting of minds, researchers will focus on developing targeted radiopharmaceuticals — the Radiomers for which Varadhachary’s company is named — as well as targeted drug conjugates that utilize Raptamers. Raptamers are an innovative class of targeting vectors that combine a DNA oligonucleotide backbone with added peptide functionality, for oncology indications.

“We are committed to exceptional research that can help us further our understanding of cancer and develop impactful therapeutic options for patients in need,” says Timothy Heffernan, Ph.D., vice president and head of therapeutics discovery at MD Anderson. “Fannin’s Raptamer drug discovery platform represents an innovative new modality that offers the potential to enhance our portfolio of novel therapies, and we look forward to the opportunities ahead.”

Fannin and MD Anderson will design translational studies together and collaborate to select promising targets for drug discovery. This is a great deal for Fannin, which will retain commercialization rights for the assets that are developed. But MD Anderson won’t be left out; the institution is eligible to receive some payments based on the success of Radiomers and other Raptamer-based drugs developed through the collaboration.

Earlier this year, Varadhachary joined the Houston Innovators Podcast to discuss Fannin's innovation approach and contribution to medical development in Houston. Listen to the episode below.

From Your Site Articles
Radiomer Therapeutics has launched under Fannin Partners with an undisclosed amount of seed funding. Photo via Getty Images

Early-stage cancer-fighting startup raises pre-seed, launches under Houston life science leader

ready to grow

Fannin Partners has done it again. The Houston-based life science development group behind medtech companies Procyrion and Allterum Therapeutics announced yesterday that it has launched Radiomer Therapeutics. With an undisclosed amount of pre-seed funding, Radiomer joins the $242 million-strong Fannin portfolio.

Radiomer uses Fannin’s proprietary Raptamer platform to target vectors and ligands for theranostic application. The cancer-fighting technology is a targeting agent that can address serious maladies including breast, lung, colorectal, prostate, and head and neck cancers.

And with Radiomer’s launch, Fannin is moving with its trademark aggressiveness. Lead programs expected to complete Phase 0 imaging/dosimetry trial(s) in cancer patients in the first quarter of next year. Those will be closely followed by therapeutic programs.

“Raptamers combine antibody level affinities with desirable physical and pharmacokinetic properties, and a rapid path to clinic,” Dr. Atul Varadhachary, CEO of Radiomer Therapeutics and Fannin managing partner, says in a press release. “We are deploying this unique platform to develop novel therapies against attractive first-in-class oncology targets.”

Varadhachary has operated Radiomer in stealth mode since its 2023 inception. However, Raptamer has been in the company’s portfolio since 2019. The new company has been using the platform to generate data with the rights to radiopharmaceutical applications for the past year.

“Our lead programs include Radiomers targeting both well-established and first-in-class cancer targets,” adds Dr. Phil Breitfeld, Radiomer’s chief medical officer. “Our imaging/dosimetry trials are designed to provide clinical evidence of tumor targeting and biodistribution information, positioning us to rapidly initiate a therapeutic program(s) if successful.”

For over a decade, Fannin has developed and supported promising life science innovations by garnering grant funding and using its team of expert product developers to build out the technology or treatment. The life science innovation timeline is very different from a software startup's, which can get to an early prototype in less than a year.

"In biotech, to get to that minimally viable product, it can take a decade and tens of millions of dollars," Varadhachary said on the Houston Innovators Podcast earlier this year.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

UTHealth Houston officially opens new tower in TMC's Helix Park

open for innovation

UTHealth Houston School of Public Health recently opened its new state-of-the-art tower in the Texas Medical Center’s Helix Park.

The 350,000-square-foot, 10-story campus at 1930 Old Spanish Trail was celebrated with an official ribbon-cutting ceremony on Oct. 28. The $229 million project will consolidate all UTHealth Houston School of Public Health operations into one facility. It will also connect students who are at the Austin, Brownsville, Dallas, El Paso and San Antonio campuses with peers and faculty through digital and distance learning.

Disciplines taught in the new tower will include epidemiology, genetics, nutrition, health policy, data science and health promotion, UTHealth shared when the building first broke ground in 2023.

Architects Kirksey Architecture and Smith Group designed the building, and Vaughn Construction served as general contractor. The facility features labs for studying human disease, classrooms and spaces to support interdisciplinary and community-based research, a broadcast studio and a teaching kitchen. A skybridge over Old Spanish Trail connects the new tower with a plaza that's shared with MD Anderson.

“This new facility reflects the kind of forward-looking investment that will serve Texans for generations,” Janiece Longoria, vice chairman of the UT System Board of Regents, said in a news release. “By creating an environment where talented people can learn, collaborate, and pursue new ideas, UTHealth Houston is building capacity to meet the challenges of tomorrow while strengthening its impact across our state.”

UTHealth says the system aims for the new campus to expand on collaborative research efforts and continue graduate education, as enrollment at the School of Public Health has increased by 27 percent over the last five years.

“This new building, with its state-of-the-art education technology and learning environment, will strengthen and advance the school’s mission to educate and train the next generation of experts who will advance scientific discovery, shape evidence-based health policy, and lead innovative solutions to the complex health challenges in communities throughout Texas and across the nation,” Kevin Morano, senior vice president, provost and chief academic officer of UTHealth Houston, added in a news release.

Attending the ceremony were Dr. Melina R. Kibbe, UTHealth Houston president and Alkek Williams Distinguished Chair; Eric Boerwinkle, dean, M. David Low Chair in Public Health and Kozmetsky Family Chair in Human Genetics at the School of Public Health; Texas State Representative Lauren Ashley Simmons, Texas House District 146; representatives of the offices of Senator John Cornyn and Harris County Commissioner Rodney Ellis; and Dr. Theresa Tran, director of the Houston Health Department.

"This building represents far more than a home for our school,” Boerwinkle added in the release. “It represents the people who make our mission possible: the faculty, staff, and students who fill each laboratory and classroom with curiosity, discovery, and purpose to improve the population’s quality of life.”

Rice University breaks ground on new innovation hub, The Arc

breaking ground

Construction is officially underway on Rice University's The Arc in Houston’s Ion District.

The university broke ground on the 200,000-square-foot research, corporate innovation and office building on Nov. 4. The facility will share a plaza with the existing Ion building, fostering collaboration within the innovation space, according to Rice.

“The Arc will bring Rice’s extraordinary research and talent and Houston’s impactful innovation ecosystem into even closer connection with the industries and innovators working to solve some of the world’s most consequential challenges,” Rice President Reginald DesRoches said in an announcement. “That constant exchange of ideas and expertise will help move discoveries more rapidly from the laboratory to real-world impact.”

Construction is scheduled to be completed by Q2 2028. Rice Real Estate Co. is developing the project, and Rice University will occupy about 80,000 square feet in the building (about 40 percent). Preleasing has begun, with floor plans ranging from 28,000 to 31,000 square feet.

The Arc will feature conference and meeting spaces, an amenity lounge, fitness center, outdoor plazas, underground parking, and on-site retail and dining, according to the release.

It aims to host tenants focused on artificial intelligence and machine learning, data science, robotics, quantum science and engineering and energy, including Rice's new AI Foundry.

Rice says the AI Foundry will be a space where university experts and partners can support organizations with AI challenges. Rice recently committed to hiring 75 new AI-focused faculty and announced plans to launch a new Master of Artificial Intelligence (MAI) next fall.

“The AI Foundry is exactly the kind of collaboration the Arc is designed to enable,” Amy Dittmar, the Howard R. Hughes Provost and executive vice president for academic affairs at Rice, added in the release. “By bringing Rice researchers together with industry partners in a shared environment, we can accelerate the movement of ideas from research into practical applications while helping organizations build the capabilities they need to succeed as AI continues to evolve.

Developers of The Arc are targeting LEED Gold certification by incorporating smart building automation and energy-saving features into the project's design. Rice first announced the project in September 2025.

Rendering courtesy Bogza

Houston battery tech startup FlowCellutions acquired by Katy energy co.

M&A

Katy-based TerraFlow Energy, an energy storage and infrastructure company, has acquired Houston-based battery technology startup FlowCellutions. Financial terms weren’t disclosed.

FlowCellutions still operates under its established name, but with the tagline “A TerraFlow Energy Company.” Becca Segel, founder and CEO of FlowCellutions, now runs the business as its president.

FlowCellutions specializes in electrochemical sensing, diagnostics, analytics, and testing that offer insights into battery chemistry, charging capabilities, and system performance.

“FlowCellutions has always been focused on developing better ways to understand what is happening inside a flow battery and using that information to improve how these systems perform,” Segal said in a press release. “Joining TerraFlow gives us the opportunity to apply that work at a much larger scale while continuing to build the capabilities and expertise that make FlowCellutions unique.”

The FlowCellutions platform supports data centers and other heavy users of power. It’s designed to help reduce operating costs, prevent failures and costly downtime, and extend battery lifetime from about seven years to more than 30 years.

Segel founded the company in 2022. A member of Greentown Labs, the company raised more than $2 million in non-dilutive funding and received $1.5 million in National Science Foundation funding earlier this year.

FlowCellutions is one of five finalists in the Energy Transition Business category of InnovationMap’s 2026 Houston Innovation Awards.

“FlowCellutions brings a depth of scientific and technical expertise that fits naturally with where TerraFlow is going,” Jon Parrella, CEO of TerraFlow, said in the release.

“As we move from developing these systems to deploying them at commercial scale, understanding performance at a deeper level matters,” he said. “Bringing FlowCellutions into TerraFlow strengthens that capability and gives both teams more opportunity to advance the technology.”TerraFlow, founded in 2024, develops long-duration energy storage and power infrastructure for data centers, industrial facilities, utilities and other large power consumers.

---

This article originally appeared on EnergyCapitalHTX.com.

View All Listings