A TMC-based organization supporting innovation pediatric medical devices has secured a $7.4 million grant. Photo via tmc.edu

The Southwest National Pediatric Device Innovation Consortium announced this month that it has received a $7.4 million grant from the Food and Drug Administration to continue developing innovative pediatric medical devices.

Led by Baylor College of Medicine and Texas Children’s Hospital, SWPDC supports the development and commercialization of devices relating to children's health, including synthetic pediatric heart valves, miniature injection devices and neonatal intensive care unit monitoring devices, according to a statement from Baylor.

According to Dr. Chester Koh, SWPDC executive director and principal investigator, who is also a professor of urology at Baylor and a pediatric urologist at Texas Children’s, physicians today often have to treat pediatric patients with devices that are designed for larger adult bodies.

"This grant allows us to continue to spur development of devices specifically designed for kids by providing funding, consulting, clinical expertise and other assistance, all of which is made possible by our co-existence in the healthcare innovation ecosystem of the Texas Medical Center,” he said in the statement.

The SWPDC received a similar five-year grant in 2018 from the FDA, and has since added 200 pediatric device projects in all stages of development to its portfolio, raising in total more than $200 million in follow-on funding for the technology. It's one of five consortia in the FDA’s Pediatric Device Consortia (PDC), with others in Pennsylvania, Washington D.C., the San Francisco Bay Area, and Los Angeles.

Regionally, the consortium members include engineers from Texas A&M University, Rice University, University of Houston and the University of Minnesota, as it looks to expand into the midwest. It also partners with Texas Medical Center Innovation, JLABS@TMC and Proxima CRO.

In addition to the $7.4 million grant, SWPDC also received funding for its real-world data/real-world evidence (RWD/RWE) demonstration projects that focus on postoperative cardiac care, according to BCM.

Earlier this summer, Houston-based medtech company CorInnova was one of five companies invited to invited to present pitches at the National Capital Consortium for Pediatric Device Innovation’s “Make Your Medical Device Pitch for Kids!” competition. The event takes place this month and the companies are competing for a share of $150,000 in grant funding from the FDA. CorInnova has developed a minimally invasive device for the treatment of congestive heart failure.

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Houston brain health co. secures $6.5M for rare disease study

neuro funding

Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.