A Texas organization has doled out millions to Houston cancer-fighting professionals

granted

Texas doctors and researchers received millions for their transformational work in cancer prevention and treatment. Getty Images

Researchers at medical institutions across the state have something to celebrate. The Cancer Prevention and Research Institute of Texas has made 71 grants this week to cancer-fighting organizations that total a near $136 million.

"CPRIT's priorities of pediatric cancer research and cancers of significance to Texans highlight this large slate of awards," says Wayne Roberts, CPRIT CEO, in a release. "Investments are made across the cancer research and prevention continuum in Texas unlike any other state in the country."

New to the awards this time around is the Collaborative Action Program for Liver Cancer, which has been claimed by Baylor College of Medicine's Hashem B. El-Serag.

"Texas has the highest incidence rates of hepatocellular cancer in the nation," El-Serag says in a release from BCM. "Our CPRIT funded Center will house infrastructure to support and enhance research collaborations among liver cancer researchers; to educate providers, researchers and the general public on best practices and opportunities to reduce the burden of liver cancer; and to engage private and public entities in policy initiatives."

Houston organizations also received recruitment awards, which reward Texas organizations for bringing in great minds from across the world. According to the release, CPRIT has brought in a total of 181 scholars and 13 companies to the Lone Star State.

Of the 71 grants, 58 represent academic research, 10 prevention, and three product development research. Here are the ones awarded to Houston organizations.

The University of Texas MD Anderson Cancer Center

$900,000 granted for Shao-Cung Sun's research in regulation of CD8 T cell responses in antitumor immunity (Individual Investigator Research Award)
$897,483 granted for Alemayehu A. Gorfe's research in characterization and optimization of novel allosteric KRAS inhibitors (Individual Investigator Research Award)
$3 million granted for Hashem B. El-Serag's research at The Texas Collaborative Center for Hepatocellular Cancer (Collaborative Action Program to Reduce Liver Cancer Mortality in Texas: Collaborative Action Center Award)
$2.46 million to Jessica Hwang for patient-centered liver cancer prevention in the Houston community (Collaborative Action Program to Reduce Liver Cancer Mortality in Texas: Investigator-Initiated Research Awards)
$3.51 million for Kevin McBride's Recombinant Antibody Production Core at Science Park
$199,804 granted for Andrea Viale's epithelial memory of resolved inflammation as a driver of pancreatic cancer progression (High Impact High Risk Award)
$6 million for the recruitment of Christopher Flowers, M.D. (Recruitment of Established Investigator Awards)
$2 million for the recruitment of Kevin Nead, MD, MPhil (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$2 million for the recruitment of Alison Taylor, PhD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$2 million for the recruitment of Mackenzie Wehner, MD, MPhil (Recruitment of First-Time, Tenure-Track Faculty Members Awards)

Baylor College of Medicine

$5.38 million granted for Steven J. Ludtke's new capabilities for cancer research in the TMC CryoEM Cores (Core Facility Support Awards)
$1.35 million granted for Bryan M. Burt's novel endoscope-cleaning port for minimally invasive cancer surgery (Early Translational Research Awards)
$199,500 granted for Yohannes T. Ghebre's Topical Esomeprazole for Radiation-induced Dermatitis (High Impact High Risk Award)
$199,920 granted for Robin Parihar's targeting of cancer associated fibroblasts with anti-IL-11-secreting CAR T cells (High Impact High Risk Award)
$2 million for the recruitment of Umesh Jadhav, PhD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$2 million for the recruitment of Stanley Lee, PhD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$2 million for the recruitment of Ang Li, MD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$1.29 million for Jane R. Montealegre's expansion of "a Community Network for Cancer Prevention to Increase HPV Vaccine Uptake and Tobacco Prevention in a Medically Underserved Pediatric Population"

Texas Medical Center

$5.44 million granted for William McKeon's Business-Driven Accelerator for Cancer Therapeutics (Core Facility Support Awards)

The University of Texas Health Science Center at Houston

$5.95 million granted for Zhiqiang An's Advanced Cancer Antibody Drug Modalities Core Facility (Core Facility Support Awards)
$2 million granted for Qingyun Liu's discovery and development of novel peptibody-drug conjugate for treating cancers of the digestive system (Early Translational Research Awards)
$199,998 granted for Leng Han's expression landscape and biomedical significance of transfer RNAs in cancer (High Impact High Risk Award)
$2 million for Lara S. Savas' Salud en Mis Manos that delivers "Evidence-Based Breast & Cervical Cancer Prevention Services to Latinas in Underserved Texas South and Gulf Coast Communities"

The University of Texas Medical Branch at Galveston

$3.55 million granted for William K. Russell's A Targeted Proteomics and Metabolomics Mass Spectrometry Core Facility at the University of Texas Medical Branch at Galveston (Core Facility Support Awards)
$199,996 granted for Brendan Prideaux's novel cellular-level imaging approach to assess payload drug distribution in tumors following administration of targeted drug delivery systems (High Impact High Risk Award)
$200,000 granted for Casey W. Wright's targeting ARNT and RBFOX2 alternative splicing as a novel treatment modality in lymphoid malignancies (High Impact High Risk Award)

The Methodist Hospital Research Institute

$200,000 granted for Robert Rostomily's development of a mini-pig glioma model and validation of human clinical relevance (High Impact High Risk Award)

Texas Southern University

$200,000 for Song Gao's alleviating SN-38-induced late-onset diarrhea by preserving local UGTs in the colon (High Impact High Risk Award)

University of Houston

$200,000 granted for Sergey S. Shevkoplyas' Novel High-Throughput Microfluidic Device for Isolating T-cells Directly from Whole Blood to Simplify Manufacturing of Cellular Therapies (High Impact High Risk Award)

Rice University

$2 million for the recruitment of Jiaozhi (George) Lu, PhD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)
$1.67 million for the recruitment of Vicky Yao, PhD (Recruitment of First-Time, Tenure-Track Faculty Members Awards)

The Rose

$2 million for Bernice Joseph's Empower Her To Care Expansion

Legacy Community Health Services

$999,276 for Charlene Flash's "Increasing Breast and Colorectal Cancer Screening Rates for the Medically Underserved using Population Health Strategies at a Multi-County FQHC"

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Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

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