Houston biotech biz to merge with public co., set local HQ

big deal

Tvardi Therapeutics and Cara Therapeutics are expected to merge and headquarter in Houston. Photo via Getty Images

Houston-based Tvardi Therapeutics and Cara Therapeutics announced the companies have entered into a definitive merger agreement to combine in an all-stock transaction. Once completed, Houston will house the headquarters.

Tvardi is a clinical-stage biopharmaceutical company that focuses on the development of novel, oral, and small molecule therapies that target STAT3 to treat fibrosis-driven diseases. Tvardi will merge with a wholly owned subsidiary of Cara.

Once complete, the pre-merger Cara Therapeutics stockholders are expected to own approximately 17 percent of the combined company and pre-merger Tvardi Therapeutics investors are expected to own 83 percent of the combined company. Prior to adjustment from the issuance of the shares in the recently completed Tvardi financing and assuming Cara, which went public in 2014, has net cash at closing of between $22.9 million and $23.1 million with the percentage of the combined company that pre-merger Cara stockholders and pre-merger Tvardi stockholders will own upon the closing of the merger, which is subject to further adjustment if Cara’s net cash balance falls outside of the range.

“As we approach meaningful value inflection points next year, including two Phase 2 readouts of our lead program in idiopathic pulmonary fibrosis, followed by the readout in our hepatocellular carcinoma program, this merger, the recently completed financing, and becoming a publicly traded company give us access to the critical funding required to further advance our promising pipeline programs that address significant unmet needs,” Imran Alibhai, CEO of Tvardi Therapeutics, says in a news release.

Also, Tvardi has completed an approximately $28 million private financing from a syndicate of new and existing institutional investors. With the cash from both companies at closing and the proceeds of this financing, the post-merger company plans to have cash to fund its operating expenses and capital expenditure requirements into the second half of 2026.

“I am grateful to the Cara Board, leadership team, and shareholders who share our vision of Tvardi that is well-positioned to introduce effective, new treatment options to patients suffering from serious, chronic, fibrosis-driven diseases,” Alibhai continues.

In 2021, Tvardi emerged from stealth and closed a $74 million series B funding round led by New York-based Slate Path Capital, Florida-based Palkon Capital, Denver-based ArrowMark Partners, and New York-based 683 Capital, with continued support and participation by existing investors, including Houston-based Sporos Bioventures.

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Here's which life science companies — in Houston and beyond — are ones to watch. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Houston organization names 10 most promising life sciences startups

ones to watch

Last week, the Rice Alliance for Technology and Entrepreneurship gathered over 1,000 life science experts and attendees virtually for thought leadership as well as 40 company presentations.

The three-day 2020 Virtual Texas Life Science Forum was made possible through a partnership with BioHouston and support from Texas Medical Center and Insperity. At the close of the summit, several companies were recognized with awards.

Houston-based Starling Medical won the Michael E. DeBakey Memorial Life Science Award, established by BioHouston in honor of the groundbreaking Houston cardiovascular surgeon. The digital health device company is revolutionizing severe bladder dysfunction management with artificial intelligence.

Every year at the forum, the Rice Alliance names its 10 most promising companies working on developing innovative solutions in medical devices, digital health, diagnostics, pharmaceuticals, and therapeutics. This year, Brad Burke, managing director of the Rice Alliance, says they had more applications to present than ever before. Additionally, the presenting companies — about half of which are Houston-based — have already raised more than $275 million in funding.

The 2020 most-promising life science companies, which were chosen by investors and presented by the Greater Houston Partnership, were:

Droice Labs

Image via droicelabs.com

New York-based Droice Labs, is an artificial intelligence and big data company matches patients to therapies and delivers personalized medicine at scale while reducing costs.

"Our cutting-edge technology seamlessly integrates into clinical workflows, and we continue to evolve unique and powerful applications for our clients and the patients they serve," reads the company's website.

SFA Therapeutics

Image via sfatherapeutics.com

Based in Jenkintown, Pennsylvania, SFA Therapeutics is developing oral drugs for treating conditions of chronic inflammation that have the potential to change the practice of medicine. The company has treatments for Psoriasis, Liver Cancer (Hepatitis B, NASH and HCC), Ophthalmic Diseases, Cytokine Release Syndrome- a side effect in CAR-T, Prevention of Relapse/Recurrence in Leukemias, and other diseases.

Hummingbird Bioscience

Photo via jlabs.jnjinnovation.com

Hummingbird Bioscience, based in Houston's JLABS @ TMC, is tackling challenging targets that play a key role in disease yet have not been effectively drugged. The company has worked on 12 therapies in various stages of development, four of which have the potential to revolutionize their fields.

"At Hummingbird, we believe that modern approaches to systems biology and data science can overcome the challenges of classical methods of therapeutics discovery, and profoundly improve the way we deliver new transformative medicines," reads the company website.

CaseCTRL

Image via casectrl.com

Houston-based CaseCTRL is empowering surgeons with a management platform with software-as-a-service technology that uses AI and logistics to lower operational costs and simplify surgical planning.

"The surgical scheduling process is frustratingly stuck in the past: siloed, paper-based, and too dependent on single schedulers," reads the website. "Surgeons are stressed and overworked. They need a better way to communicate their complex surgical plans, timelines and resource needs."

Perimeter Medical

Image via perimetermed.com

Perimeter Medical, based in Dallas, is driven to transform cancer surgery with advanced, real-time, ultra high-resolution imaging tools including AI to address areas of unmet medical need.

"Perimeter is dedicated to providing solutions that drive better patient care and lower healthcare costs by providing critical information, during clinical procedures," reads the website.

Studio Bahria

Image via studiobahia.org

San Antonio-based Studio Bahia, is developing an accessible model for therapy in addressing mental health crises from the pandemic through virtual reality.

"We are in production of our first two therapies for release in the 4th quarter of 2020. Studio Bahia clients include corporate, retail, and institutional partners who purchase our headsets for $25 in providing mental health therapies and wellness tools to employees, executives, and patients," reads the company's website.

Tvardi Therapeutics

Photo via Getty Images

Tvardi Therapeutics, based in Houston, is a clinical-stage biopharmaceutical company focused on the development of a new class of breakthrough medicines for diverse cancers and chronic inflammatory and fibrotic diseases.

"Tvardi is focused on the development of orally delivered, small molecule inhibitors of STAT3, a key signaling molecule positioned at the intersection of many disease pathways," reads the website.

Koda Health

Image via kodahealthcare.com

Koda Health, Houston, uses AI to help guide difficult conversations in health care, starting with end-of-life care planning.

"You're entitled to protect the healthcare decisions that matter most to you and your family," the company's website promises. "Koda creates Care Plans to ensure that you get the medical care you want."

Immuno Genesis

Photo via Getty Images

Houston-based ImmunoGenesis is a clinical-stage biotechnology company developing therapeutics to catalyze effective immune responses in immunologically "cold" cancers such as prostate, colorectal, and pancreatic.

"Compared to existing immunotherapy drugs, we believe this antibody will both provide more consistent benefit for patients with immune-infiltrated tumors, and, for the first time, will also benefit patients with immune 'cold' cancers," says founder Dr. Michael A. Curran in a press release announcing the company's grant from the Cancer Prevention and Research Institute of Texas.

Ictero Medical

Image via Getty Images

Ictero Medical, based in Houston, is developing the first minimally invasive cryoablation solution to treat patients with gallstone disease. Ictero Medical has created a minimally invasive treatment, called The CholeSafe System, that uses cryoablation to defunctionize the gallbladder without having to remove it.

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UH study uncovers sustainable farming methods for hemp production

growth plan

A new University of Houston study of hemp microbes can potentially assist scientists in creating special mixtures of microbes to make hemp plants produce more CBD or have better-quality fibers.

The study, led by Abdul Latif Khan, an assistant professor of biotechnology at the Cullen College of Engineering Technology Division, was published in the journal Scientific Reports from the Nature Publishing Group. The team also included Venkatesh Balan, UH associate professor of biotechnology at the Cullen College of Engineering Technology Division; Aruna Weerasooriya, professor of medicinal plants at Prairie View A&M University; and Ram Ray, professor of agronomy at Prairie View A&M University.

The study examined microbiomes living in and around the roots (rhizosphere) and on the leaves (phyllosphere) of four types of hemp plants. The team at UH compared how these microorganisms differ between hemp grown for fiber and hemp grown for CBD production.

“In hemp, the microbiome is important in terms of optimizing the production of CBD and enhancing the quality of fiber,” Khan said in a news release. “This work explains how different genotypes of hemp harbor microbial communities to live inside and contribute to such processes. We showed how different types of hemp plants have their own special groups of tiny living microbes that help the plants grow and stay healthy.”

The study indicates that hemp cultivation can be improved by better understanding these distinct microbial communities, which impact growth, nutrient absorption, stress resilience, synthesis and more. This could help decrease the need for chemical inputs and allow growers to use more sustainable agricultural practices.

“Understanding these microorganisms can also lead to more sustainable farming methods, using nature to boost plant growth instead of relying heavily on chemicals,” Ahmad, the paper’s first author and doctoral student of Khan’s, said the news release.

Other findings in the study included higher fungal diversity in leaves and stems, higher bacterial diversity in roots and soil, and differing microbiome diversity. According to UH, CBD-rich varieties are currently in high demand for pharmaceutical products, and fiber-rich varieties are used in industrial applications like textiles.

Tom Hanks touches down at Space Center Houston for lunar film premiere

To The Moon

The Artemis Exhibit at Space Center Houston shimmered with star power as nearly 500 insiders gathered for an out-of-this-world affair celebrating the premiere of The Moonwalkers: A Journey with Tom Hanks. The immersive cinematic experience, narrated and co-written by Oscar-winning actor Tom Hanks, offers guests a front-row seat to the triumphs of past lunar missions and a look ahead to NASA’s Artemis era.

The VIP reception brought a celestial twist to the traditional cocktail hour. Guests were served shrimp and oysters, along with potato croquettes paired with peach gastrique, a playful nod to the first vegetable grown in space and the first fruit consumed on the Moon. Espresso martinis featuring Hanks’ coffee brand, Hanx, were shaken and served.

Inside the newly renovated Space Center Theater, a 270-degree projection mapping spectacle brought The Moonwalkers to life. The film weaves rare astronaut interviews with behind-the-scenes glimpses into the upcoming Artemis missions.

Following the screening, a panel discussion brought the experience back to Earth. William T. Harris, Space Center Houston president and CEO, moderated a conversation with Tom Hanks, Apollo 16 moonwalker Charlie Duke, and Artemis II astronauts Victor Glover, Christina Koch, and Reid Wiseman. Together, they explored the film’s themes and what lies ahead as humanity returns to the Moon.

The Moonwalkers: A Journey with Tom Hanks is now on view at Space Center Houston. The immersive show is included in the general admission price. It runs 50 minutes and showings begin on the half hour, starting at 10:30 am.

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A version of this story originally appeared on our sister site, CultureMap.com.

Houston space org to launch experiments aboard first mission into polar orbit

all aboard

Houston's Translational Research Institute for Space Health, or TRISH, will send its latest experiments into space aboard the Fram2 mission, the first all-civilian human spaceflight mission to launch over the Earth’s polar regions.

Fram2, operated by SpaceX, is targeting to launch Monday, March 31, at NASA’s Kennedy Space Center in Florida. The crew of four is expected to spend several days in polar orbit aboard the SpaceX Dragon spacecraft in low Earth orbit. TRISH’s research projects are among 22 experiments that the crew will conduct onboard.

The crew's findings will add to TRISH's Enhancing eXploration Platforms and ANalog Definition, or EXPAND, program and will be used to help enhance human health and performance during spaceflight missions, including missions to the moon and Mars, according to a release from TRISH.

“The valuable space health data that will be captured during Fram2 will advance our understanding of how humans respond and adapt to the stressors of space,” Jimmy Wu, TRISH deputy director and chief engineer and assistant professor in Baylor’s Center for Space Medicine, said in the release. “Thanks to the continued interest in furthering space health by commercial space crews, each human health research project sent into orbit brings us closer to improving crew member well-being aboard future spaceflight missions.”

The six TRISH projects on Fram2 include:

  • Cognitive and Physiologic Responses in Commercial Space Crew on Short-Duration Missions, led by Dr. Mathias Basner at the University of Pennsylvania Perelman School of Medicine. The crew will wear a Garmin smartwatch and a BioIntelliSense BioButton® medical grade device to track cognitive performance, including memory, spatial orientation, and attention before, during, and after the mission.
  • Otolith and Posture Evaluation II, led by Mark Shelhamer at Johns Hopkins University. The experiment will look at how astronauts’ eyes sense and respond to motion before and after spaceflight to better understand motion sickness in space.
  • REM and CAD Radiation Monitoring for Private Astronaut Spaceflight, led by Stuart George at NASA Johnson Space Center. This experiment will test space radiation exposure over the Earth’s north and south poles and how this impacts crew members.
  • Space Omics + BioBank, led by Richard Gibbs and Harsha Doddapaneni at Baylor College of Medicine. The experiment will use Baylor’s Human Genome Sequencing Center's Genomic Evaluation of Space Travel and Research program to gain insights from pre-flight and post-flight samples from astronauts.
  • Standardized research questionnaires, led by TRISH. The test asks a set of standardized research questionnaires for the crew to collect data on their sleep, personality, health history, team dynamics and immune-related symptoms.
  • Sensorimotor adaptation, led by TRISH. The project collects data before and after flight to understand sensorimotor abilities, change and recovery time to inform future missions to the moon.

TRISH, which is part of BCM’s Center for Space Medicine with partners Caltech and MIT, has launched experiments on numerous space missions to date, including Blue Origin's New Shepard rocket last November and Axiom Space's Ax-3 mission to the International Space Station last January.

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