Healgen Scientific opened its new headquarters in Houston last week. Photo courtesy of Healgen

A global health care company has cut the ribbon on its new facility and headquarters in Houston.

Healgen Scientific, which manufacturers diagnostic products for infectious diseases, toxicology, oncology, and more, opened the facility last week. Operating as the company's new headquarters, the location is the first manufacturing facility in Houston for Healgen. The company currently has around 120 employees in the U.S. and is expected to create over 200 new jobs in the next three years

“This new facility in Houston uses very innovative technology that will precisely diagnose viruses or diseases so people can be confident in the results they are receiving,” Bingliang Fang, CEO of Healgen Scientific, says in a release. “Here, Healgen is able to produce quality tests on a very large scale—nearly a half million per day. We are proud to provide made in the USA products with a commitment to using local materials, employing local residents and being an integral part of the community.”

Amid the COVID-19 pandemic, Healgen Scientific teamed up with Siemens Healthcare Diagnostics Inc. on a Rapid COVID-19 Antigen Self-Test. Today, over 2 billion Rapid COVID-19 Antigen Self-Test Kits have been used worldwide.

With 325 automated production lines around the world, Healgen's facilities have a daily production capacity of more than 22 million health care tests. Recently, the company moved 15 of these production lines to the U.S., investing over $100 million in three large-scale manufacturing and warehouse facilities in New York, New Jersey, and Texas. The facility in Houston will also produce RSV tests later in the year.

“We welcome you to our great city,” says Chris Hollins, city controller, City of Houston Controller’s Office. “This is a city, and a state, of business and of commerce. We’re excited that hundreds of jobs are on the way because of the investment of Healgen and the Fang family, and we’re grateful for your presence. On behalf of more than 2 million Houstonians, we applaud Healgen Scientific LLC on bringing world-class innovation and disease management to the United States.”

Healgen cut the ribbon on its newest facility last week. Photo courtesy of Healgen

Dr. Colleen O'Connor has adapted immunotherapy treatments to be used in dogs. Courtesy of CAVU Biotherapies

Houston-based veterinary biotech startup modernizes cancer treatments for dogs

Paw-dern medicine

More than three years after its founding, Houston-based veterinary biotech company CAVU Biotherapies recently accomplished a significant milestone. In October, CAVU's specialized immunotherapy was administered to its first cancer patient: a black Labrador in Pennsylvania diagnosed with B-cell lymphoma.

Dr. Colleen O'Connor, CEO and founder of CAVU Biotherapies, established the company in July 2015 with a goal to help pets live longer post-cancer diagnoses. O'Connor, who earned a PhD in toxicology with a specialty in immunology, has more than a decade of hands-on experience researching cancer treatments.

"Our goal is to scale up and be able to increase our dogs' qualities of life with us," O'Connor said. "We want to keep families intact longer and we want to be able to modernize cancer care for our animals."

At CAVU, O'Connor dedicates her time to modernizing cancer care for dogs by developing an Autologous Prescription Product, otherwise known as adoptive T-cell therapy for dogs. The T-cell therapy is currently offered as a companion treatment to other canine cancer treatments, such as chemotherapy, radiation or surgery, O'Connor said.

Historically, cancer research for animals has lagged behind that of humans, and cancer diagnoses have come late due to the language barrier, O'Connor said. Of the dogs who enter remission, a majority of them relapse within 10 months to one year, she said.

"A majority [of dogs] are diagnosed at stage four, and you have to become very aggressive," O'Connor said. "For B-cell lymphoma, with the current treatments right now and the current standard of [therapies], less than 20 percent make it to two years post-diagnosis."

Launching CAVU
O'Connor first began studying T-cell therapy for humans with cancer during her post-doctoral fellowship at M.D. Anderson Cancer Center. Her fellowship also partnered with Texas A&M University's Small Animal Hospital to develop a clinical trial studying the effects of adoptive T-cell therapies on dogs with B-cell lymphoma.

T-cell therapy is a cellular-based treatment in which a type of white blood cells — or the cells that fight off tumors and infections — are harvested from blood samples drawn from patients. The cells are then injected back into the patient through an IV to fight the cancerous cells, O'Connor said.

Unexpectedly, O'Connor's 19-year-old dog, Bubbles, was diagnosed with transitional cell carcinoma in 2008 and later dying from it in December 2009. Five years later, O'Connor's sister's 6-year-old dog, Daisy, also died from transitional cell carcinoma. O'Connor said she remembers feeling helpless as she watched the dogs succumb to the disease.

"I was giving them drugs and protocols that were from 1980 … and I was really upset that there wasn't much more we could do for our dogs — especially because I treat my dogs like family," O'Connor said.

That was when O'Connor realized she wanted to help prevent other people from feeling the pain of losing their furry family members. While T-cell therapy is not a new method of treating cancer in humans, O'Connor focused on modifying the serum to create a treatment plan appropriate for dogs.

However, launching a company focusing specifically on treating cancer in animals was not without its challenges; O'Connor said she had to learn how to start a business, make industry connections, and adopt an entrepreneurial mindset.

To help with this, CAVU also connected with various entrepreneurial accelerators, such as Houston Technology Center and Station Houston, which are associations that help place young businesses in front of investors.

CAVU later became a member of the Houston Angel Network — a group of private investors of high net worth individuals that as a group invest in startups. By presenting her business to HAN and its investors, CAVU was able to gain financial backing.

CAVU also recently joined the Capital Factory in early 2018, an Austin-based accelerator program for entrepreneurs in Texas. O'Connor said the program has helped her meet investors, mentors and other startups.

"The way I overcame a lot of this [the early challenges] is by education, listening and trying to navigate and talk with as many of the right people as I could that had experience," she said.

The future of CAVU
Since CAVU treated its first patient in October, CAVU's adoptive T-cell therapy treatment has been administered to six dogs, O'Connor said. CAVU's T-cell therapy is currently available at more than 12 veterinary clinics across the country, including clinics in Texas, Florida, Pennsylvania, New York, North Carolina, and Missouri.

Additionally, four Houston-area clinics currently offer the T-cell therapy treatment: Garden Oaks Veterinary Clinic, Bayou City Veterinary Hospital, Memorial-610 Hospital for Animals, and Sugar Land Veterinary Specialists.

In order for a dog to be considered as a candidate — though it is ultimately up to the veterinarian on whether the T-cell therapy is right for specific dogs — the dogs must weigh more than 8 pounds, not be allergic to mouse or cow products and have no active autoimmune diseases.

The company also launched a new clinical trial with A&M University in October, looking at the effects of CAVU's T-cell therapy coupled with reduced chemotherapy periods for dogs, from roughly 19 to 26 weeks of chemotherapy to 6 to 8 weeks.

While CAVU's therapy is currently only available for dogs, O'Connor said her team plans to modify the T-cell therapy to be administered in other animals.

"We have a lot of cat owners ask us [about treatment] and we are going to do that for the next round in funding," she said. "We're going to look at how to translate this for cats and eventually horses."

O'Connor said that CAVU will launch more clinical trials with A&M University's Small Animal Hospital in the future, with CAVU aiming to make T-cell therapy treatments for cats and horses available in 2020.

Looking back, O'Connor said she has come a long way in her career path: from working with sea animals at the Newport Aquarium in Kentucky to studying human immunology and toxicology, but she's returned to studying animals.

"It's amazing how I pivoted, but at the end of the day I kind of came back to animals … and I came back full circle in a way I could have never expected," she said.

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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.

Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.