The grant will create a new Research Evaluation and Commercialization Hub, known as REACH, in Houston. Photo via Getty Images

The National Institute of Health has awarded a $4 million grant to a Houston-area initiative in the name of sparking biomedical activity.

The grant will create a new Research Evaluation and Commercialization Hub, known as REACH, in Houston. The team behind the Gulf Coast Consortium — one of the world’s largest inter-institutional cooperatives, which includes eight of Houston’s medical research leading lights — has been hard at work to bring REACH-GCC to fruition.

The result? A multidisciplinary means of promoting biomedical entrepreneurship, bringing innovators from concept to commercialization.

“I can tell you that a lot of those potential users came out of our research consortium. Those users span from a focus on mental health to antibiotic resistance to regenerative medicine to pain management to, of course, cancer,” says Suzanne Tomlinson of Rice University.

Tomlinson is the director of GCC research programs and worked with Stan Watowich of The University of Texas Medical Branch to create the grant. Peter Davies helped to submit it through Texas A&M University.

One of the dozen research and educational programs that Tomlinson directs is the Innovative Drug Discovery and Development Consortium.

“Within that, we have established a wide network of drug to drug discovery and development cores,” she says.

The vast majority of those are funded by CPRIT (Cancer Prevention and Research Institute of Texas), and Tomlinson and Watowich (the chair of IDDD’s steering committee) were lead developers and authors of the grant to create TMCi’s Accelerator for Cancer Therapeutics (ACT). That accelerator is a model for what GCC-REACH may do for taking other innovations from discovery to market.

“We get close to a billion dollars in research monies a year coming into the Medical Center. The question is, ‘Are we seeing a lot of those dollars resulting in products that benefit patients?’ And the answer always is, ‘We can do better,’” says Watowich.

How will GCC-REACH help to do that? By combining the forces of all eight full members of the GCC, plus outside help when it’s needed. Watowich sets for the example of a budding entrepreneur at his home institution, UTMB. That researcher could potentially receive guidance from an MD Anderson expert in immunotherapies or a Rice scientist who focuses on nanotechnology delivery systems.

“This grant is designed to put together a bespoke team of whatever is needed to have a discussion with and figure out what's the market for this technology. How might it get there?’” says Watowich.

Those options could include setting up a startup company, but could also mean licensing the idea to someone else, whether it’s a company or an institution.

“Our goal is, we help each other. We help ourselves. We help the patient population. And we do that through working together,” he continues.

Though it sounds like GCC-REACH could be a competitor to other accelerators, Watowich doesn’t see it that way. He sees the new hub as working with very early-stage creators who may still take part in those existing accelerators in the future. And the team hopes to do so quickly. The goal is to launch this month. Watowich says that the plan is to use the NIH’s $4 million to launch around 60 early stage biomedical companies over the next four years.

A variety of nascent founders — regardless of their type of innovative solution — will take part in the initiative.

“It can be a device, it could be an AI, it could be an app, it could be digital health, it could be therapeutics,” says Watowich. “We have experts across all of these areas that could help provide guidance and mentoring to try to move those companies forward.”

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Houston startup raises $6M to scale home-based healthcare platform

fresh funding

As healthcare systems race to expand care beyond hospitals and into the home, investors are placing bigger bets on the infrastructure needed to make that shift possible.

This month, Rosarium Health announced it has raised $6 million in seed funding led by Kalos Ventures, with participation from ResilienceVC, Rock Health Capital, Symphonic Capital, Black Tech Nations Ventures and others.

The investment will help the Houston-based startup continue to build its platform, which features a national network of 800-plus clinicians and 3,000-plus contractors to coordinate home accessibility upgrades and modifications for seniors and people living with disabilities.

For founder and CEO Cameron Carter, the company’s mission grew out of firsthand caregiving experiences.

“From my own personal caregiving experiences, I realized that the benefits exist on paper, but not in reality,” Carter said in a news release. “Families are being left to figure out the paperwork and installations all on their own, which shouldn’t be how this works.”

While Medicare Advantage and Medicaid plans have expanded coverage for home-based services and accessibility modifications, the logistics behind delivering those services often remain fragmented.

Rosarium’s platform coordinates the entire process, from clinical assessments and referrals to contractor management, documentation, reimbursement and installation.

“A clinician can document that a home isn’t safe and a plan can approve a benefit, but there’s no one that’s responsible for making sure the work actually gets done,” Carter says. “We built the missing piece.”

The company was founded in 2021 as Rose Health and was a 2023 participant in the Texas Medical Center’s Accelerator for HealthTech program. It has scaled quickly, building a network of more than 800 clinicians and 3,000 contractors across 34 states.

Rosarium is currently in-network for 1.2 million Medicare and Medicaid lives, with projected coverage expected to reach nearly 4 million by the end of the year, according to the release.

“We’re excited to back Cameron because he and the team at Rosarium are building the infrastructure healthcare needs right now to make the home a safe and comfortable place of care,” Kate Ballinger, investor at Kalos Ventures, added in the release.

As part of the recent investment, Ballinger will join Rosarium’s board of directors.

With eyes on the future, Rosarium plans to grow its partnerships with Medicaid and Medicare Advantage plans, including CalViva and Community Health Plan of Imperial Valley, strengthening its presence in California while expanding access to underserved communities.

Additionally, Carter predicts that home-based healthcare will be part of a broader transformation happening across the industry.

“There’s a growing recognition that health outcomes are shaped by what happens in the home,” he said in the release. “The future of healthcare isn’t just treating people after something goes wrong. It’s creating environments that help prevent those problems in the first place.”

Houston business mogul Tilman Fertitta acquires Caesars in $17.6B deal

Money Moves

Houston billionaire Tilman Fertitta may currently be serving as America’s ambassador to Italy, but his company is as busy as ever. Fresh off its move to revive the Houston Comets WNBA franchise, his company, Fertitta Entertainment, has announced a $17.6 billion deal to acquire Caesars Entertainment, Inc.

Speculation about the deal has been circulating since at least March, according to various media reports. The deal combines Fertitta’s well-known Golden Nugget casino brand with all of the properties in the Caesars’ portfolio, including Las Vegas hotels Caesars Palace, Harrah's, Paris Las Vegas, Planet Hollywood, Horseshoe, The LINQ Hotel, Flamingo, and The Cromwell.

Overall, the combined company will include 60 domestic casino resorts and gaming facilities; online gaming including sports betting, iCasino, and Caesar’s online poker platform; retail sports betting at over 200 third-party locations through the William Hill brand; and over 550 Fertitta Entertainment outlets, including more than 450 Landry's full-service restaurants across America. The companies will combine their loyalty programs, Caesars Rewards, Golden Nugget's 24 Karat Select Club, and Landry's Select Club.

The terms will see Caesars’ shareholders receive $31 per share. Fertitta Entertainment will also acquire approximately $11.9 billion of Caesars' outstanding debt.

The transaction will be financed through a combination of equity contributed by Fertitta Entertainment, assumed Caesars' debt, and new committed debt financing arranged by a group consisting of 10 banks. It is subject to approval by Caesars’ shareholders and government regulators.

Fertitta Entertainment is the Houston-based company behind a diverse array of hospitality businesses, including The Golden Nugget, The Post Oak Hotel, River Oaks District, the Kemah Boardwalk, and Houston’s Downtown Aquarium.

It also operates a number of prominent restaurant brands, including Mastro's Restaurants, Del Frisco's Double Eagle Steakhouse, Morton's The Steakhouse, The Palm, McCormick & Schmick's, Landry's Seafood House, The Oceanaire Seafood Room, and Saltgrass Steak House.

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This article first appeared on CultureMap.com.