3 Houston health care innovators to know this week

who's who

This week's roundup of Houston innovators includes Tom Luby of TMC Innovation, Ayse McCracken of Ignite Health, and Chris DuPont of Galen Data. Photos courtesy

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes three innovators across health care innovation.

Tom Luby, director of TMC Innovation

Texas Medical Center Innovation won a Prix Galien Award, which has been described as being comparable to the Nobel Prize for the life science community. Photo by Natalie Harms/InnovationMap

Last month, a global organization honored innovation leaders in life sciences, and the Texas Medical Center was among the recipients of the prestigious awards program.

The 18th annual Prix Galien Awards Gala awarded TMC Innovation with the win in the "Incubators, Accelerators and Equity" category. The Galien Foundation created the awards program in 1970 in honor of Galien, the father of medical science and modern pharmacology. Alongside TMC, the other winners represented biotech, digital health, startups, and more.

"We are super proud of this distinction," Tom Luby, director of TMC Innovation says at Envision 2024 last month, crediting the TMCi team and TMC leadership for the award. "We lean on a lot of advisers and experts — people who volunteer their time to work with startups. Without (them), we would not have been successful." Continue reading.

Ayse McCracken, founder of Ignite Health

A Houston organization that accelerates and supports female founders leading innovative health tech startups has concluded its 2024 program with the announcement of this year's top companies.

Ignite Health, an accelerator founded in 2017 by longtime Houston health care professional Ayse McCracken, named its 2024 winners at its annual Fire Pitch Competition in Houston last month. The companies pitched health tech solutions across lung health, renal therapy, breastfeeding tech, and more.

"This year’s competition was a culmination of passion, innovation, and hard work from the top startups in our 2024 Accelerator Program," reads a LinkedIn post from Ignite. "These trailblazing founders earned their spot on the stage by demonstrating exceptional leadership and the potential to revolutionize the healthcare industry with their solutions and devices." Continue reading.

Chris DuPont, co-founder and CEO of Galen Data

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired. Photo via LinkedIn

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired by health care-focused asset manager Lauxera Capital Partners. Financial terms weren’t disclosed.

Lauxera, based in France, says the Galen Data acquisition complements its 2022 purchase of Germany-based Matrix Requirements, a provider of software for medical device R&D and quality control teams.

Chris DuPont, co-founder and CEO of Galen Data, says the Lauxera deal “empowers us to take our business to the next level and better serve our clients while pushing forward the innovation that’s at the core of everything we do.” Continue reading.

Texas Medical Center Innovation won a Prix Galien Award, which has been described as being comparable to the Nobel Prize for the life science community. Photo by Natalie Harms/InnovationMap

Houston's Texas Medical Center wins prestigious global award recognizing leaders in life science innovation

new bling

Last month, a global organization honored innovation leaders in life sciences, and the Texas Medical Center was among the recipients of the prestigious awards program.

Luby explains that a Prix Galien Award holds a Nobel Prize level of significance for the community.

TMCi was named a finalist in August, and competed against programs from Cedars-Sinai, Mayo Foundation for Medical Education and Research, TechConnect, and more.

"The Awards Committee is honored to witness the exceptional dedication and creativity of our nominees as they turn visionary ideas into transformative solutions for patients worldwide," says Michael Rosenblatt, chair of the Prix Galien USA Awards Committee, in a news release. "Their unwavering commitment to advancing patient care is truly commendable, and we are honored to celebrate their outstanding contributions to global health."

The award is displayed at TMC Innovation's office, located in the medical center at 2450 Holcombe Blvd.

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

Houston biotech startup secures $10M seed round to propel cancer-fighting therapy from bench to bedside

fresh funding

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

CrossBri dge 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.”

Houston innovators — put these August events on your radar. Photo via Getty Images

10+ can't-miss Houston business and innovation events for August

WHERE TO BE

From networking meet-ups to expert startup showcases, August is filled with opportunities for Houston innovators.
Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly.

Note: This post may be updated to add more events.

August 1 — 7th Annual Summer Science Symposium

The 7th Annual MAPTA Summer Science Symposium will showcase work from research trainees, postdoctoral fellows, and medical residents. The symposium will feature all fields of translational, basic science and clinical research. This two-day in-person event will include both poster and oral presentations.

Keynote Speakers:

Brijesh S. “Billy” Gill, MD, FACS
Corina Rosales, PhD

This event is Thursday, August 1, from 9 am to 4 pm at Houston Methodist Research Institute. Click here to register.

August 1 — Bayou Startup Showcase

The Bayou Startup Showcase is a dynamic celebration of entrepreneurship, spotlighting the newest startups and small businesses from Rice University’s OwlSpark and the University of Houston’s RED Labs accelerators. Attendees can listen to pitches, discover ways to support and grow these businesses, and engage with founders during the showcase.

This event is Thursday, August 1, from 4 to 8 pm at The Ion. Click here to register.

August 8 — Out In Tech Mixer

Out in Tech Houston provides an inclusive networking space for LGBTQ+ people and allies working in tech. Check out this relaxed, social-mixer event, hosted on the second Thursday of every month.

This event is Thursday, August 8, from 7 to 8:30 pm at Second Draught. Click here to register.

August 13 — Software Day at The Ion: An Intro to Central Texas Seed Stage VCs

Software Day is a monthly series driving the support, inspiration, and connections needed to help startups on their path to rapid, sustainable growth. Each month, Software Day will include office hours (by application), a keynote session, and networking.

Speakers include:

Eric Engineer, S3 Ventures
Rajiv Bala, Clutch Ventures
Cat Dizon, Active Capital
Mike Marcantonio, LiveOak
Moderator: Aziz Gilani, Mercury

This event is Tuesday, August 13, from 3:30 to 7 pm at The Ion. Click here to register.

August 15 — TMC Lunch ‘n’ Launch: Phiogen

This monthly event series hosted by TMC Innovation highlights TMC community companies and provides them with a platform to share their journey, current progress, and future goals. This month the lunch features Phiogen, a specialized phage therapy corporation founded by by Baylor College of Medicine.

This event is Thursday, August 15, from 12 to 1 pm at at TMC Innovation Factory. Click here to register.

August 15 — SPRINT Workforce Forum

This two-day event brings together industry, universities, and government entities to discuss the workforce challenges that arise from the rapidly advancing AI and robotics technologies in the energy sector. It has a special emphasis on inspiring students to become advocates of AI and robotics, enabling them to help the energy industry’s digital transformation.

This event is Thursday, August 15, starting at 12 am at Student Center South and UH Hilton. Click here to register.

August 22 — Transition On Tap

Transition On Tap is Greentown Labs’ monthly networking event devoted to fostering conversations and connections among the climate and energy transition ecosystem in Houston and beyond. Entrepreneurs, investors, students, and friends of climatetech are invited to attend, meet colleagues, and discuss solutions.

This event is Thursday, August 22 from 5:30 to 7:30 pm at Greentown Houston. Click here to register.

August 23 — 2024 Cardiometabolic Syndrome Conference: A Population Health Crisis

The Cardiometabolic Syndrome Conference is designed to provide attendees with the most contemporary knowledge about the syndrome, including the epidemiology, treatment strategies, and knowledge gaps. There will be a specific focus on high-level discussions that dissect the current shortcomings in the overall management of CMS at the individual and community level and begin to consider new and innovative treatment strategies.

This event is Friday, August 23 from 7 am to 5 pm at The Texas Heart Institute. Click here to register.

August 28 — TMCi Cappuccino Connections

Network with the diverse TMC Innovation Community while enjoying a cup of joe.

This event is Wednesday, August 28, from 8:30 am to 10:30 am at TMC Innovation Factory Lobby. Click here to register.

August 28 — Bayou City Bio Pulse: Pearland

Hear from some of the region’s largest commercial life science manufacturers. This panel discussion will examine the obstacles and potential avenues for the growth of commercial life science firms. Tours of Lonza’s and Millar’s manufacturing facilities will follow the program.

This event is Wednesday, August 28, from 11 am to 2 pm at West Pearland Library. Click here to register.

August 29 — SaaStock Local: Scalability in the Age of AI, Building for Growth in SaaS

Attendees will explore innovative strategies and cutting-edge technologies designed to enhance scalability, ensuring that cloud computing environments remain robust, flexible, and capable of supporting dynamic and complex AI workloads. The session will cover best practices for optimizing resource allocation, managing data efficiently, and maintaining high performance as demand increases.

This event is Thursday, August 29, from 5:30 to 8 pm at The Ion. Click here to register.

For the second year, the Texas Medical Center Innovation and BioInnovation Institute have teamed up to accelerate a handful of Danish companies. Photo courtesy of TMC

TMC Innovation announces second cohort of promising Danish health tech companies

welcome to houston

A new cohort of scientists from the Texas-Denmark BioBridge has been selected to join a Texas Medical Center Accelerator, joining forces with some of Houston’s best advisers and mentors.

This is the second year that four Danish companies have been chosen to join a special TMC Innovation Accelerator program with plans to bring their technologies to the American market. In a joint press release, the Texas Medical Center (TMC) and the BioInnovation Institute (BII), announced that the participants are scheduled to arrive in Houston on May 13 for their first session, in which they’ll work on US customer validation. After that, they’ll take part in the full program, which will allow the founders to make their plans for strategic development over the course of six months.

Just as the TMC Innovation Factory offers help for founders who have set their sights on success in the US market, the Danish BioInnovation Institute provides life science startups with the connections, infrastructure and financial support necessary to bring their ideas to the public.

The companies selected include:

Alba Health is pioneering a gut microbiome test for young children that’s informed by AI.
AMPA Medical has created InterPoc, a more discrete alternative to types of stoma bags currently available for ileostomy patients.
Droplet IV is a medical device that automatically flushes IV lines, reducing waste and making nurses’ jobs easier.
Metsystem is a cancer metastasis platform aimed at predicting what the most effective cancer drug is for each patient.

“We are excited to welcome these startups to TMC as Danish companies are making significant strides in drug discovery and health tech developments” says Devin Dunn, head of the accelerator for Health Tech, in the release. “As they look to expand into the US market, the collaborative environment fostered by our dedicated team, programs, and clinical community will help them advance their innovations, foster research collaborations, and further develop their technologies here in Houston.”

The program for the accelerator is based on the successes of the TMC Innovation (TMCi) Health Tech Accelerator program. The TMC Denmark BioBridge was established in 2019 as a collaboration between TMC and the Ministry of Foreign Affairs of Denmark.

Jessica Traver Ingram, CEO and co-founder of IntuiTap, joins the Houston Innovators Podcast to share her company's latest milestone. Photo courtesy of IntuiTap

With FDA approval, Houston health tech company prepares nationwide deployment

Houston innovators podcast episode 232

Jessica Traver Ingram has been captivated by the intersection of physics and health care for most of her life, and that passion led her to contributing to the establishment of the Texas Medical Center's Biodesign Fellowship. After helping make the program a reality, Traver Ingram then participated in it as a fellow.

The program selects fellows and then lets them explore the TMC's member institutions to find ways to innovate within unmet clinical needs, and the inefficiency and challenges with placing epidurals and lumbar punctures caught Traver Ingram and her cohort's eye. The process relies completely on the health care practitioner's ability to feel the spine with their fingers to make the injection.

"We kept watching the inefficiencies of these procedures, and everyone was like, 'you're right, we don't really know why we do it this way,'" Traver Ingram says on the Houston Innovators Podcast. "It's really cool to be outsiders watching and observing, because you just see things other people don't see — and that's in any industry."

With that, IntuiTap was born. Traver Ingram describes its tool, the VerTouch, as a "stud finder for the spine." After years of growing the company, she can also now call it FDA-approved.

"FDA clearance allows us to market the device in the United States, so we are entering the commercial launch stage of the company, which is really exciting," Traver Ingram says. "We plan to have these devices available in hospitals across the country within the year."

First up is what Traver Ingram calls a soft launch. The company is picking five institutions that want to be centers of excellence for the device and doing trial launches there before entering into a greater, nationwide rollout.

"It's just crazy that what started as just an idea on paper is now FDA approved and commercially ready and something that patients can see in hospitals this year," Traver Ingram says.

And the timing is important, she explains, adding that where the health care industry seems to be at as a whole is primed for innovation like IntuiTap.

"There's a lot of really exciting developments happening in health care right now," Traver Ingram says. "I feel like we're really at a tipping point for innovation and we're going to see some really big leaps in the next couple of years.

"One of the exciting trends I think that we're seeing is a shift away from blind procedures or procedures that are seen as an art requiring a significant amount of skills toward more science-based, safer, consistent, and repeatable procedures," she continues. "We fit really well into that category, so I'm glad that we're seeing that shift."

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Houston VC funding surged in 2024, fueled by major Q4 activity

by the numbers

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

Justice Department sues to block Houston-based HPE's $14B buyout of Juniper

M&A News

The Justice Department sued to block Hewlett Packard Enterprise's $14 billion acquisition of rival Juniper Networks on Thursday, the first attempt to stop a merger by a new Trump administration that is expected to take a softer approach to mergers.

The Justice complaint alleges that Hewlett Packer Enterprise, under increased competitive pressure from the fast-rising Juniper, was forced to discount products and services and invest more in its own innovation, eventually leading the company to simply buy its rival.

The lawsuit said that the combination of businesses would eliminate competition, raise prices and reduce innovation.

HPE and Juniper issued a joint statement Thursday, saying the companies strongly oppose the DOJ's decision.

“We will vigorously defend against the Department of Justice’s overreaching interpretation of antitrust laws and will demonstrate how this transaction will provide customers with greater innovation and choice, positively change the dynamics in the networking market,” the companies said.

The combined company would create more competition, not less, the companies said.

The Justice Department's intervention — the first of the new administration and just 10 days after Donald Trump's inauguration — comes as somewhat of a surprise. Most predicted a second Trump administration to ease up on antitrust enforcement and be more receptive to mergers and deal-making after years of hypervigilance under former President Joe Biden’s watch.

Hewlett Packard Enterprise announced one year ago that it was buying Juniper Networks for $40 a share in a deal expected to double HPE’s networking business.

In its complaint, the government painted a picture of Hewlett Packard Enterprise as a company desperate to keep up with a smaller rival that was taking its business.

HPE salespeople were concerned about the “Juniper threat,” the complaint said, also alleging that one former executive told his team that “there are no rules in a street fight,” encouraging them to “kill” Juniper when competing for sales opportunities.

The Justice Department said that Hewlett Packard Enterprise and Juniper are the U.S.'s second- and third-largest providers of wireless local area network (WLAN) products and services for businesses.

“The proposed transaction between HPE and Juniper, if allowed to proceed, would further consolidate an already highly concentrated market — and leave U.S. enterprises facing two companies commanding over 70% of the market,” the complaint said, adding that Cisco Systems was the industry leader.

Many businesses and investors accused Biden regulatory agencies of antitrust overreach and were looking forward to a friendlier Trump administration.

Under Biden, the Federal Trade Commission sued to block a $24.6 billion merger between Kroger and Albertsons that would have been the largest grocery store merger in U.S. history. Two judges agreed with the FTC’s case, blocking the proposed deal in December.

In 2023, the Department of Justice, through the courts, forced American and JetBlue airlines to abandon their partnership in the northeast U.S., saying it would reduce competition and eventually cost consumers hundreds of millions of dollars a year. That partnership had the blessing of the Trump administration when it took effect in early 2021.

U.S. regulators also proposed last year to break up Google for maintaining an “abusive monopoly” through its market-dominate search engine, Chrome. Court hearings on Google’s punishment are scheduled to begin in April, with the judge aiming to issue a final decision before Labor Day. It’s unclear where the Trump administration stands on the case.

One merger that both Trump and Biden agreed shouldn’t go through is Nippon Steel’s proposed acquisition of U.S. Steel. Biden blocked the nearly $15 billion acquisition just before his term ended. The companies challenged that decision in a federal lawsuit early this year.

Trump has consistently voiced opposition to the deal, questioning why U.S. Steel would sell itself to a foreign company given the regime of new tariffs he has vowed.

Houston space company lands latest NASA deal to advance lunar logistics

To The Moon

Houston-based space exploration, infrastructure, and services company Intuitive Machines has secured about $2.5 million from NASA to study challenges related to carrying cargo on the company’s lunar lander and hauling cargo on the moon. The lander will be used for NASA’s Artemis missions to the moon and eventually to Mars.

“Intuitive Machines has been methodically working on executing lunar delivery, data transmission, and infrastructure service missions, making us uniquely positioned to provide strategies and concepts that may shape lunar logistics and mobility solutions for the Artemis generation,” Intuitive Machines CEO Steve Altemus says in a news release.

“We look forward to bringing our proven expertise together to deliver innovative solutions that establish capabilities on the [moon] and place deeper exploration within reach.”

Intuitive Machines will soon launch its lunar lander on a SpaceX Falcon 9 rocket to deliver NASA technology and science projects, along with commercial payloads, to the moon’s Mons Mouton plateau. Lift-off will happen at NASA’s Kennedy Space Center in Florida within a launch window that starts in late February. It’ll be the lander’s second trip to the moon.

In September, Intuitive Machines landed a deal with NASA that could be worth more than $4.8 billion.

Under the contract, Intuitive Machines will supply communication and navigation services for missions in the “near space” region, which extends from the earth’s surface to beyond the moon.

The five-year deal includes an option to add five years to the contract. The initial round of NASA funding runs through September 2029.

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