Editor's note: As the year comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. In the health tech category on InnovationMap, top stories included startups relocating to Houston to further advance their technologies, venture funding raised, and more. Be sure to click through to read the full story.
Seattle biotech co. to move to Houston thanks to $13.3M grant from Texas organization
OncoResponse in partnership with MD Anderson Cancer Center received a portion of $73 million the Cancer Prevention and Research Institute of Texas has doled out this spring. Photo via oncoresponse.com
A biotech company has landed a more than $13 million grant from the Cancer Prevention and Research Institute of Texas.
The nearly $13.3 million grant given to OncoResponse — which is relocating from Seattle to Houston, according to CPRIT's news release — will help the company develop fully human monoclonal antibodies for treatment of cancer that otherwise would not respond to immunotherapy. OncoResponse already has a partnership with MD Anderson Cancer Center, which is one of the company’s investors.
“We are thrilled to receive this recognition from CPRIT in supporting the potential of our immunotherapy candidate OR502. We greatly appreciate the additional support from our investors as we continue to make significant progress with our drug development efforts advancing immunotherapies derived from clues of Elite Responders,” says Clifford Stocks, CEO of OncoResponse, in a news release.
Houston hospital opens next phase in $245M expansion
Texas Children's Hospital has expanded. Photo courtesy of TCH
Texas Children's Hospital has announced the opening of its newest medical tower in the Texas Medical Center.
Pavilion for Women Tower II is now open to patients, the Texas Children's Hospital revealed this week. It's the second phase of a $245 million expansion within the TMC. The new tower houses women’s services outpatient clinics and connects to the Pavilion for Women via a new sky bridge,
“I’ve always said that outgrowing a space is a good problem to have because it means that we’re doing something right and our patients and their families trust us to provide the safe and high-quality care they deserve,” says Mark A. Wallace, president and CEO of Texas Children’s, in a news release. “I am so proud of everything we’ve done together and I’m beyond grateful and excited for the continuous growth of Texas Children’s Pavilion for Women.”
Houston med device startup raises $18M, prepares to hire
BiVACOR has received fresh funding from its investors to further develop its artificial heart. Photo courtesy of BiVACOR
A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.
BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.
“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure."
TMC names inaugural cohort for unique accelerator with UK
The Texas Medical Center Innovation Factory has named the 16 companies making up the inaugural cohort in the Innovate UK Global Incubator Programme. Photo via tmc.edu
Sixteen digital health and medical device startups founded in the United Kingdom have been selected for a customized accelerator at the Texas Medical Center's Innovation Factory.
In partnership with Innovate UK, TMCi created the Innovate UK Global Incubator Programme, a new accelerator that supports UK businesses as they build their United States go-to-market plan. The program builds the BioBridge relationship between TMC and the UK that was originally established five years ago.
“The TMC UK BioBridge program was launched with the UK Department for Business and Trade in 2018 to serve as a gateway for advancing life sciences and foster innovation and research between our two countries," says Ashley McPhail, chief external affairs and administration officer for TMC, in a news release. "We saw an opportunity to work with Innovate UK to develop a larger program with the UK after the success of the 11 companies that previously participated in our health tech accelerator."
Houston health tech startup acquired by medical device company
A TMC-founded medical device startup has made a grand exit. Image via TMC.edu
A Houston health tech business that has created a medical device to enhance and improve surgery has been acquired.
Illinois-based Northgate Technologies Inc. announced the acquisition of Allotrope Medical earlier this month. The Houston startup has designed an electrosurgical ureter identification system for optimizing surgery for both robotic and non-robotic laparoscopic surgical procedures. The StimSite technology is a hand-held device used by general and OBGYN surgeons and has received a Safer Technologies Program designation from the FDA.
“By bringing the StimSite product platform into NTI’s existing portfolio of innovative insufflation and smoke removal products, we have taken a significant step in fulfilling our vision to optimize the surgical environment for minimally invasive surgery,” says Dave McDonough, vice president and general manager at NTI.
- Houston health tech leader to expand accelerator to continue connecting female founders ›
- Here are Houston's top health tech innovation stories of the year ›
- Health tech executive leads Houston startup into its next generation following $12.8M series B ›
- Photos: Houston Methodist opens new hub to showcase health tech of the future ›
- TMC names 3 startups to Houston health tech accelerator ›