Texas female-founded companies raised more than $1 billion in 2024, VC data shows

by the numbers

Female-founded companies in the U.S. raised $38.8 billion, up 27 percent from the previous year, but deal count dropped, according to VC data from PitchBook. Photo via Getty Images.

Female-founded companies in Dallas-Fort Worth may rack up more funding deals and more money than those in Houston. However, Bayou City beats DFW in one key category — but just barely.

Data from PitchBook shows that in the past 16 years, female-founded companies in DFW collected $2.7 billion across 488 deals. By comparison, female-founded companies in the Houston area picked up $1.9 billion in VC through 343 deals.

Yet if you do a little math, you find that Houston ekes out an edge over DFW in per-deal values. During the period covered by the PitchBook data, the value of each of the DFW deals averaged $5.53 million. But at $5,54 million, Houston was just $6,572 ahead of DFW for average deal value.

Not surprisingly, the Austin area clobbered Houston and DFW.

During the period covered by the PitchBook data, female-founded companies in the Austin area hauled in $7.5 billion across 1,114 deals. The average value of an Austin deal: more than $6.7 million.

Historically, funding for female-established companies has lagged behind funding for male-established companies. In 2024, female-founded companies accounted for about one-fourth of all VC deals in the U.S., according to PitchBook.

PitchBook noted that in 2024, female-founded companies raised $38.8 billion, up 27 percent from the previous year, but deal count dropped 13.1 percent, meaning more VC for fewer startups. In Texas, female-founded companies brought in $1.3 billion last year via 151 deals. The total raised is the same as 2023, when Texas female founders got $1.3 billion in capital across 190 deals.

“The VC industry is still trying to find solid footing after its peak in 2021. While some progress was made for female founders in 2024, particularly in exit activity, female founders and investors still face an uphill climb,” says Annemarie Donegan, senior research analyst at PitchBook.

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Hit the highlights of Venture Houston 2023 with these overheard moments from the event. Photo courtesy of HX Venture Fund

Founders, investors sound off on Houston's VC scene, energy innovation potential, and more

EAVESDROPPING in Houston

Last week, nearly 1,000 people convened in Houston to discuss venture capital activity, startups, and decarbonization, and the Houston factor among it all.

On September 7, Venture Houston hosted several keynote addresses and panels throughout the day's programming, and investors from across the country discussed with Houston-based startup and corporate leaders on topics from seed funding to cultivating an ecosystem.

The annual event, presented by HX Venture Fund, a fund of funds that deploys capital into VC funds with an interest in Houston, had one significant through line throughout the day, and it was Houston's role within innovation and the energy transition.

Whether you missed the event or were there to soak in every second, here's a roundup of key statements on this topic from the panelists.

“We mapped out Texas as a high priority because we knew you can’t do energy without Texas. You can’t do energy without Houston."

— Carmichael Roberts, investment committee co-lead for Breakthrough Ventures. "The opportunity that Houston has to be the unambiguous leader is because everywhere else can do energy transition, but they still can’t do what Houston does,” he continues.

“There’s no better place in the world than Houston to build and scale a climate tech startup.”

— Tim Latimer, CEO and co-founder of Fervo Energy. “But I don’t know if I’m ready to make the claim that we’re the best place to start a business,” he adds.

“Houston needs that first, higher-profile investor who’s Houston-based, Houston-first, and wants to put as much capital as possible into energy transition and climate tech companies.”

— Craig Wilson, managing director of NYU’s Tandon Future Labs. “Houston is blessed with an incredible amount of CVC and late stage capital," he continues. "What it really could use is early stage capital.”

“There are a couple aspects you need for an ecosystem, and Houston has been putting a lot of those in place, but it’s not perfect yet, and there’s still work that this ecosystem needs to do."

— Trevor Best, CEO and co-founder of Syzygy Plasmonics. Startups need talent, facilities, capital, and customers. “Here in Houston, for energy transition technologies, I don’t know if there’s an ecosystem that can check the box (for customers) stronger than Houston," he adds, explaining that talent is here too. Where Houston needs improvement, according to Best, is in facilities, which is seeing some progress, and capital development.

“I think Houston is actually the perfect place for becoming the energy transition capital. If you ask me, I think we already are.” 

— Andrea Course, venture principal of Shell Ventures. “It really just takes people doing what we’re doing now to make it even greater," she adds.

“We have to figure out ways for how big energy companies work with new technology providers in partnership and not say it’s a David versus Goliath thing.”

— Gaurab Chakrabarti, co-founder and CEO of Solugen. “That’s a philosophical misalignment,” he continues. “Instead of saying it’s an absolute problem, accept that it’s a transition.”

Check out these conferences, pitch competitions, networking, and more all happening in September. Photo via Getty Images

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

WHERE TO BE

From networking meetups to pitch competitions, September has a smorgasbord of 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 might be updated to add more events.

Mark your calendars for November 8 for the annual Houston Innovation Awards, and nominate your company or another deserving business by September 19.

September 5 — Tech + Tequila Talk: Houston Innovation

Natara Branch, CEO of Houston Exponential, will delve into the most recent developments within the Houston Innovation Community, shedding light on Houston Exponential's latest initiatives. She will also provide insights into upcoming events, including the highly-anticipated Tech Rodeo and the forthcoming Innovation Awards Gala. After all of that education and conversation, unwind with an authentic tequila tasting and network with tech industry peers.

The agenda:

5:50 pm - 6 pm: Sign-in/Registration

6 pm - 6:30 pm: Tequila tasting

6:30 pm - 7 pm: Tech talk

7 pm - 8 pm: Networking & Tequilas

This event is Tuesday, September 5, from 6 pm to 8 pm at the Ion. Click here to register.

September 7 — Venture Houston 2023

Venture Houston 2023 is a major event for entrepreneurs, venture investors and ecosystem builders to plug into what is happening in Houston. Come learn how you can decarbonize in a digital world, connect with Houston's best founders, corporate leaders and top tier investors, and develop meaningful relationships.

The agenda:

7 am - 8:45 am: Registration

8:45 am - 12:30 pm: General Programming

12:30 pm - 1:45 pm: Networking Lunch

2:00 pm - 4:15 pm: General Programming

4:15 pm - 6 pm: Networking Cocktail Reception

This event is Thursday, September 7, from 7 am to 6 pm at Stude Concert Hall. Click here to register.

September 8 — Inspire & Transform: Celebrating Women In Data

Hosted by the Houston Chapter of Women in Data and Solidatus, this event will feature influential women who have made significant contributions to the field of data from the City of Houston, Exxon, EY, Google, Houston Methodist and more. The event will discuss and debate "The Intersection of Data, AI and Sustainability" and "What Does Good Look Like" through insightful panel discussions, and networking opportunities. Price of admission is $10.

The agenda:

9 am - Check-in and Network

9:15 am - Welcome

9:20 am - Panel 1: The Intersection of Data, AI & Sustainability

10 am - Networking Break

10:10am - Panel 2: "What Does Good Look Like"

10:45am - Scholarships Awarded

11am - End of event + Networking Opportunities

This event is Friday, September 8, from 9 am to 11 am at 200 Park Place. Click here to register.

September 9 — Revolutionizing Your Work: Eight Innovative Ways Entrepreneurs Can Leverage ChatGPT & AI to Scale, Grow & Succeed

Discover how successful entrepreneurs are harnessing the power of artificial intelligence and ChatGPT to drive their businesses forward. At this event, you'll gain valuable insights from industry experts who have leveraged AI and ChatGPT to grow, scale, and succeed. Learn how these technologies can enhance customer experiences, streamline operations, and drive innovation in your own entrepreneurial journey.

This event is Saturday, September 9, from 12:30 to 1:30pm at The R.O.C.K. - Broadway Campus. Click here to register.

September 13 — Small Business Exchange

The Small Business Exchange, powered by US SBA, is a lively and informative event designed to connect small business owners and entrepreneurs.

At the Small Business Exchange, you'll have the opportunity to network with like-minded individuals, share your experiences, and gain valuable insights from industry experts. Whether you're a seasoned business owner or just starting out, this event offers a unique chance to learn, grow, and collaborate.


This event is Wednesday, September 13, from 11 am to 2 pm at SBDC Office. Click here to register.

September 21 — 20th Rice Alliance Energy Tech Venture Forum

The Energy Tech Venture Forum, hosted by The Rice Alliance for Technology and Entrepreneurship, will showcase energy tech innovations to shift towards a more sustainable, reliable and lower carbon future across interactive panels, inspiring keynotes and over 50 dynamic venture pitches, leaders.

At the 20th annual conference, discover more than 90 new technology ventures commercializing energy transition innovations and meet investors looking for disruptive energy technologies that can accelerate clean and renewable energy. Check to see if you are a Rice Alliance member or sponsor to confirm your free registration. Rice university faculty and staff can also attend for free. For non-Rice community members tickets are $245.

This event is Thursday, September 21, from 7:30 am to 5:15 pm at Rice University. Click here to register.

September 21 — UH Energy Symposium: Plastics, Chemicals, Circularity: What’s Next?

Focusing on the multifaceted nature and enormity of the challenge, this discussion will focus on what circularity means for the future of production and consumption, meeting consumer demand, and creating and preserving utility across the value chain, while addressing emissions reduction and waste management through new technologies, standards, regulatory mechanisms like extended producer responsibility, and stakeholder engagement.

This event is Thursday, September 21, from 6 to 7:30 pm at the University of Houston. Click here to register.

September 22 — Future of Technology

This year's Greater Houston Partnership event revolves around one of the most talked about trends in tech - artificial intelligence. With rapidly growing adoption of AI across industry and everyday applications, this timely conversation explores the possibilities and challenges unlocked by AI.

This event is Friday, September 22, from 11 am to 1:30 pm at Omni Houston. Click here to register.

September 23 — OPEN Houston 11th Annual Conference

Head over to the OPEN Houston 11th annual conference which will focus on the important players building Houston’s emerging technology and startup ecosystem. Hear from and connect with the founders, executives, investors, and other leaders that are building Houston’s innovation economy. Admission is $25-$50.

The agenda:

9:00 AM - 10.00 AM - Registration

10.00 AM - 10:30 AM - Mayor Sylvester Turner Welcoming

10:30 AM - 11:30 AM - Keynote by Andrew Yang

11:30 AM - 12:30 PM - Founder’s Panel

12:30 PM - 1:30 PM - Lunch

1:30 PM - 3:30 PM - Business Pitch Competition

3:30 PM - 3:45 PM - Award Ceremony

3:45 PM - 4:00 PM - Happy Hour

This event is Saturday, September 23, from 9 am to 4 pm at Moran Hotel. Click here to register.

September 27 — Space IT UP: Demo Day

Presented by ITA and ASI in collaboration with the Space Foundation, this event celebrates the journey of six Italian companies as they launch their groundbreaking space ventures from Houston's thriving space ecosystem. Following a five-week accelerator program, these companies will be pitching their innovative space solutions at this Demo Day.

This event is Wednesday, September 27 , from 5:30 to 8 pm at the Ion. Click here to register.

September 27 — Pearland Innovation Hub Grand Opening

Come learn more about the Pearland Innovation Hub, tour the new space, and celebrate the expansion. Raffle prizes will be available for attendees and f ood and drinks will be provided for registered attendees.

This event is Wednesday, September 27, from 6 to 8 pm at Pearland Innovation Hub. Click here to register.

September 28 — Chevron Technology Ventures Pitch Competition

Chevron is looking for novel technologies or approaches that can be applied to transform their operations. With the goal of removing people from hazardous environments (e.g., confined spaces, working at heights), reducing the environmental impact (e.g., leak detection, emissions monitoring), and increasing the operational efficiency (e.g., autonomous operations, advanced inspection capabilities, predictive asset health capabilities) of their facilities in the decades to come.

Registered attendees will be able to take a tour of the Chevron workspaces within the Cannon West Houston, enjoy refreshments and network.

This event is Thursday, September 28, from 4 to 7:30 pm at the Cannon. Click here to register.

Venture Houston is back next month. Here's what you need to know about this year's changes. Photo via LinkedIn

Houston VC conference returns to prioritize decarbonization, curated connections

can't miss event

In two weeks, hundreds of investors, corporate partners, and startups will convene to tackle topics of decarbonization, innovation, and investment. The annual event is also prioritizing something this year — connections.

In its third year, Venture Houston — taking place on Rice University's campus on September 7 — has a theme of "decarbonization in a digital world," but that's not the only thing different this year. The one-day conference has added on a unique event on September 6 to help engage around 50 investors with over 100 Houston startups.

The new activation is called Capital Connect, and HX Venture Fund will matchmake investors and startups for one-on-one meetings meant to spur collisions and collaboration.

"It's not a pitch competition — it doesn't have the stress of that," Sandy Guitar, general partner of HX Venture Fund, tells InnovationMap. "It's really just a way of connecting with a longer term horizon. We didn't want to limit it just to those who are currently raising, but actually include people who maybe just raised six months ago or are not going to raise for 12 more months, but might still want to be in the room."

The official day of the conference will also feature networking opportunities, including a breakfast hosted by DivInc, as well as networking breaks throughout the day.

"Based on feedback we received last year, networking was one of the things that was most celebrated about Venture Houston 2022," Guitar says. "All that space and time — the opportunity to allow people just to connect with one another. So, we're making sure that's a key part of this year as well."

Last year's keynote panel featured Gwyneth Paltrow, who shared her own founder's journey on the Venture Houston stage. This year's keynote address will be with Carmichael Roberts, investment committee co-lead of Breakthrough Energy Ventures, which was founded by Bill Gates to support climate change innovation.

While the topic of decarbonization might sound narrow, Guitar emphasizes that this event will not just be for the energy industry. Business everywhere — but especially in Houston — has an increased calling to decarbonization.

"I do think it's important to see the decarbonization not as a hard tech event, but as everything that touches carbon, which is basically everything in our planet in just the coal previously," she says. "Everything we make and use touches the climate."

Guitar adds that HXVF expects a crowd of around 1,000 people to attend the event this year, which would make it one of the largest VC-focused events ever to be held in the region. InnovationMap and EnergyCapital are media partners for the event.

Gwyneth Paltrow of Goop took the stage at Venture Houston to discuss investing and entrepreneurship. Photo courtesy of HX Venture Fund

Superstar startup founder Gwyneth Paltrow shares entrepreneurial journey at Venture Houston

from big screen to boardroom

If you're a startup founder, you might have some things in common with movie star-turned-entrepreneur Gwyneth Paltrow, who took the stage at Venture Houston this week.

Paltrow was joined with her investor Dana Settle of Greycroft in conversation with Melinda Spaulding of Texas Southern University as moderator. The duo discussed everything from their working relationship to the opportunities they see here in Houston.

Recognizing that, at the time, her decision to start a company was a bit confusing, Paltrow explained on the panel why she felt drawn to business and entrepreneurship. She described growing up in New York, idolizing her friends' parents on Wall Street, and she connected the dots between artistry and entrepreneurship for the audience.

"It struck me recently that the soul of an artist and the soul of an entrepreneur are actually very similar," she told the crowd. "When you're an artist you have this idea that you want to put out into the world and you think you're the only one that can do it — you have something specific and unique to add and you know you're going to do everything you can to put it into the world and to have success.

"And so you have to have this like abject, ridiculous self belief and you have to persevere through everything," she continued. "All of those qualities are exactly what you need to have as an entrepreneur."

The big difference between being an actor and an entrepreneur , Paltrow added, actors have to wait for someone to give them a job — they can't execute unless they get the part.

"I loved migrating over to being an entrepreneur," she said. "I had very strong feelings and instincts and a passion to connect people to great stuff and information — and I could do it on my own terms. I could do it on my own timeline, and nobody was barring or impeding the execution of those things."

Making the transition into entrepreneurship in such a public way came with its own unique set of challenges for Paltrow. While getting in front of venture capital investors wasn't a challenge, getting them to take her seriously was, she said, not even just because of her fame. The people in the room couldn't understand her company.

"The companies that are doing things for women, investors are having a hard time understanding them. I think that's true through and through," she said. "And it was certainly true when I went to go raise money. Everybody took the meetings, I think to get a selfie for their wife. ... And then they'd be like, 'no, thank you.'"

Greycroft — specifically with Settle — was an exception to the experience. Greycroft invested in Goop in 2019 and HX Venture Fund invested in Greycroft in 2020.

"Not everybody's for everybody. And finding the right investor for your company is so important," Settle said to the crowd. "I think getting those really trusted signals from other founders and other funders is the best way."

Since the event was hosted by HXVF and located in Houston, the topic shifted to the Bayou City and what Paltrow has observed of the ecosystem.

"Houston really has an opportunity to define who you all want to be as an investment community. And I think it's really exciting. You have such a massive influx of people coming here. I think you're set up to to support business in a way that, you know, unfortunately, we don't do in California — we make it a little tough," she said.

"I think it really becomes about articulating who what the community, what what do you want it to be? Who do you want to attract? It doesn't happen out of thin air. There has to be intention around how you articulate what the mission is in Houston for this community and start to talk about it and welcome those kinds of entrepreneurs and and define what you want it to be," she added.

Besides her relatable hatred of Excel, Paltrow shared part of her journey that founders from all backgrounds can identify with — identifying your own strengths and weaknesses.

"I have to be confident in where my strengths lie, and be able to index into those and know that I'm the expert in that domain," she said. "In the group dynamic where everyone brings their expertise to the table is really what makes it work.

"We have this thing as women where we have to do everything and it has to be perfect. It's impossible and it's not true," she continues. "Know your strengths, lean into them, don't be afraid to articulate what your strengths are not, and ask the questions you need to ask."

Settle agreed with Paltrow, adding "The best CEOs that I work with are the ones asking the right questions."

Aleece Hobson of HX Venture Fund shares what people can expect from Venture Houston on this week's episode of the Houston Innovators Podcast. Photo courtesy of HXVF

Innovator introduces Houston's tech scene to leading VCs, entrepreneurs

houston innovators podcast episode 150

In less than a week, hundreds of innovators and investors — from Houston and beyond — will congregate for a day full of networking, thought leadership, and more. And the spotlight is on Houston.

Aleece Hobson — venture partner for the HX Venture Fund, a fund of funds investing in venture capital firms across the country that have interest in investing in Houston companies — joined the Houston Innovators Podcast to discuss Venture Houston and why it is so important to HXVF to showcase Houston.

"Houston is a destination for innovation — we are not a flyover city," she says on the show.

The inaugural edition of Venture Houston took place virtually last year — and the turnout shocked HXVF and its team.

"We wanted to bring together prominent VCs alongside the corporates in Houston and include Houston-based founders and get those three communities talking and engaging. And to show all of Houston and outside of Houston what the city's tech ecosystem was all about," Hobson says of last year's event. "We weren't quite sure what to expect with that first event. We thought we'd get 300 or so participants."

The event actually attracted over 2,500 registrants from across the nation, and accomplished what the organization wanted to do, Hobson says.

Now, the event is able to return — this time in an in-person capacity — at the Ion on Sept. 13. Hobson says her team is expecting several hundred attendees and even has plans for overflow tickets.

The full day of programing will kick off with a conversation with Goop founder and Academy Award-winning actress Gwyneth Paltrow in conversation with Dana Settle, co-founder and managing partner of New York-based Greycroft. Goop is among Greycroft's portfolio companies, and HXVF invested in Greycroft in 2020.

Venture Houston is the ultimate showcase for HXVF, bringing together the three entities that make up the model — the limited partners and corporations that invest in HXVF, the venture capital firms that receive investment from HXVF, and the founders from Houston that then see new investments from HXVF's portfolio funds. The three types of players will all be a part of the day as speakers, panelists, and guests.

"We hope that all the attendees can understand how the innovation ecosystem comes together with these three groups," Hobson explains.

Hobson shares more details about the event on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

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Texas tops ranking of best state for investors in new report

by the numbers

Texas ranks third on a new list of the best states for investors and startups.

Investment platform BrokerChooser weighed five factors to come up with its ranking:

  • 2024 Google search volume for terms related to investing
  • Number of investors
  • Number of businesses receiving investments in 2024
  • Total amount of capital invested in businesses in 2024
  • Percentage change in amount of investment from 2019 to 2024

Based on those figures, provided mostly by Crunchbase, Texas sits at No. 3 on the list, behind No. 1 California and No. 2 New York.

Especially noteworthy for Texas is its investment total for 2024: more than $164.5 billion. From 2019 to 2024, the state saw a 440 percent jump in business investments, according to BrokerChooser. The same percentages are 204 percent for California and 396 percent for New York.

“There is definitely development and diversification in the American investment landscape, with impressive growth in areas that used to fly under the radar,” says Adam Nasli, head analyst at BrokerChooser.

According to Crunchbase, funding for Texas startups is off to a strong start in 2025. In the first three months of this year, venture capital investors poured nearly $2.9 billion into Lone Star State companies, Crunchbase data shows. Crunchbase attributes that healthy dollar amount to “enthusiasm around cybersecurity, defense tech, robotics, and de-extincting mammoths.”

During the first quarter of this year, roughly two-thirds of VC funding in Texas went to just five companies, says Crunchbase. Those companies are Austin-based Apptronik, Austin-based Colossal Biosciences, Dallas-based Island, Austin-based NinjaOne, and Austin-based Saronic.

Autonomous truck company rolls out driverless Houston-Dallas route

up and running

Houston is helping drive the evolution of self-driving freight trucks.

In October, Aurora opened a more than 90,000-square-foot terminal at a Fallbrook Drive logistics hub in northwest Houston to support the launch of its first “lane” for driverless trucks—a Houston-to-Dallas route on the Interstate 45 corridor. Aurora opened its Dallas-area terminal in April and the company began regular driverless customer deliveries between the two Texas cities on April 27.

Close to half of all truck freight in Texas moves along I-45 between Houston and Dallas.

“Now, we are the first company to successfully and safely operate a commercial driverless trucking service on public roads. Riding in the back seat for our inaugural trip was an honor of a lifetime – the Aurora Driver performed perfectly and it’s a moment I’ll never forget,” Chris Urmson, CEO and co-founder of Pittsburgh-based Aurora, said in a news release.

Aurora produces software that controls autonomous vehicles and is known for its flagship product, the Aurora Driver. The software is installed in Volvo and Paccar trucks, the latter of which includes brands like Kenworth and Peterbilt.

Aurora previously hauled more than 75 loads per week under the supervision of vehicle operators from Houston to Dallas and Fort Worth to El Paso for customers in its pilot project, including FedEx, Uber Freight and Werner. To date, it has completed over 1,200 miles without a driver.

The company launched its new Houston to Dallas route with customers Uber Freight and Hirschbach Motor Lines, which ran supervised commercial pilots with Aurora.

“Transforming an old school industry like trucking is never easy, but we can’t ignore the safety and efficiency benefits this technology can deliver. Autonomous trucks aren’t just going to help grow our business – they’re also going to give our drivers better lives by handling the lengthier and less desirable routes,” Richard Stocking, CEO of Hirschbach Motor Lines, added in the statement.

The company plans to expand its service to El Paso and Phoenix by the end of 2025.

“These new, autonomous semis on the I-45 corridor will efficiently move products, create jobs, and help make our roadways safer,” Gov. Greg Abbott added in the release. “Texas offers businesses the freedom to succeed, and the Aurora Driver will further spur economic growth and job creation in Texas. Together through innovation, we will build a stronger, more prosperous Texas for generations.”

In July, Aurora said it raised $820 million in capital to fuel its growth—growth that’s being accompanied by scrutiny.

In light of recent controversies surrounding self-driving vehicles, the International Brotherhood of Teamsters, whose union members include over-the-road truckers, recently sent a letter to Lt. Gov. Dan Patrick calling for a ban on autonomous vehicles in Texas.

“The Teamsters believe that a human operator is needed in every vehicle—and that goes beyond partisan politics,” the letter states. “State legislators have a solemn duty in this matter to keep dangerous autonomous vehicles off our streets and keep Texans safe. Autonomous vehicles are not ready for prime time, and we urge you to act before someone in our community gets killed.”

Houston cell therapy company launches second-phase clinical trial

fighting cancer

A Houston cell therapy company has dosed its first patient in a Phase 2 clinical trial. March Biosciences is testing the efficacy of MB-105, a CD5-targeted CAR-T cell therapy for patients with relapsed or refractory CD5-positive T-cell lymphoma.

Last year, InnovationMap reported that March Biosciences had closed its series A with a $28.4 million raise. Now, the company, co-founded by Sarah Hein, Max Mamonkin and Malcolm Brenner, is ready to enroll a total of 46 patients in its study of people with difficult-to-treat cancer.

The trial will be conducted at cancer centers around the United States, but the first dose took place locally, at The University of Texas MD Anderson Cancer Center. Dr. Swaminathan P. Iyer, a professor in the department of lymphoma/myeloma at MD Anderson, is leading the trial.

“This represents a significant milestone in advancing MB-105 as a potential treatment option for patients with T-cell lymphoma who currently face extremely limited therapeutic choices,” Hein, who serves as CEO, says. “CAR-T therapies have revolutionized the treatment of B-cell lymphomas and leukemias but have not successfully addressed the rarer T-cell lymphomas and leukemias. We are optimistic that this larger trial will further validate MB-105's potential to address the critical unmet needs of these patients and look forward to reporting our first clinical readouts.”

The Phase 1 trial showed promise for MB-105 in terms of both safety and efficacy. That means that potentially concerning side effects, including neurological events and cytokine release above grade 3, were not observed. Those results were published last year, noting lasting remissions.

In January 2025, MB-105 won an orphan drug designation from the FDA. That results in seven years of market exclusivity if the drug is approved, as well as development incentives along the way.

The trial is enrolling its single-arm, two-stage study on ClinicalTrials.gov. For patients with stubborn blood cancers, the drug is providing new hope.

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