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5 most popular innovation stories in Houston this week

Community members expressing concerns about The Innovation District project is among this week's top stories. Courtesy of Rice University

Editor's note: Houston innovators, concerns about The Houston Innovation District, university program success, and more startup news trended on InnovationMap this week. Check out this week's top stories.

3 Houston innovators to know this week

Meet a Houston native who scored $300,000 on TV, an entrepreneur with big plans for Houston, and a health care innovator looking to shake things up. Courtesy photos

From swimming away with $300,000 on Shark Tank to announcing new programming for Houston's innovation ecosystem, this week's Houston innovators to know have things to be excited about. Here's who to know this week in innovation. Continue reading.

Third Ward community expresses concerns with The Ion project that's underway

The local community has raised some concerns about Rice Management Company's Ion project's effect on the Third Ward. Courtesy of Rice University

The city of Houston has been buzzing about Rice Management Company's Ion Innovation Hub — a 270,000-square-foot coworking and innovation hub project expected to deliver in 2021 — but there's one group isn't so thrilled with the plans: The Third Ward community.

In a public community meeting on November 12, community members gathered at the Wesley AME Church to plan a Community Benefits Agreement that would legally bind The Innovation District's development team and the Rice Management Company to move forward with the local residents' indicated best interests. According to the Houston Coalition for Equitable Development without Displacement, a newly formed group to work on the CBA, it would be the first of its kind in Houston. Continue reading.

5 Houston entrepreneurs to know this Veterans Day

With Houston having the fastest growing veteran population in the country, the innovation ecosystem has plenty of veterans turned entrepreneurs. Here are five to know today. Courtesy photos

Over a quarter of a million United States military veterans call Houston home, and that number is growing.

"Houston has the second largest and fastest growing veteran population in the country," says Reda Hicks, a Houston entrepreneur and military spouse herself. "That's a very significant chunk of our city to share an affinity, and it's not something Houston has talked about." Continue reading.

TMC Innovation Institute announces redesign of its acceleration program for 2020

In 2020, the TMCx program will become a needs-based accelerator looking to solve problems the Texas Medical Center's member institutions face on a regular basis. Courtesy of TMC

TMCx has been helping medical device and digital health startups create solid business plans and lasting relationships with Texas Medical Center institutions for five years, and on the accelerator's fifth anniversary, the team announced it's mixing things up a little to better accomplish those goals.

On Nov. 7, TMCx celebrated the conclusion of its ninth cohort, and 16 medical device companies pitched to a crowd at the TMC Innovation Institute. The companies in this cohort, just like the ones before it, were selected based on their technologies that solved a problem using digital health or medical devices. However, previously, the TMC's member institutions weren't directly part of the process until after the cohort was selected. Continue reading.

2 Houston universities top list for best graduate, undergraduate entrepreneurship programs

Rice University and the University of Houston top lists for best graduate and undergraduate entrepreneurship programs. Photo by skynesher/Getty Images

In Houston, a little bit of friendly competition between two universities goes a long way, but each gets a win according to a recent ranking.

The University of Houston's Cyvia and Melvyn Wolff Center for Entrepreneurship within the C. T. Bauer College of Business claimed the top spot on the 2020 Princeton Review's top 15 programs for undergraduate entrepreneurship studies. Meanwhile, Rice University's Jones Graduate School of Business claimed the top spot on the graduate schools list. Continue reading.

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Building Houston

 
 

Tvardi Therapeutics Inc. has fresh funds to support its drug's advancement in clinical trials. Photo via Getty Images

A Houston-based clinical-stage biopharmaceutical company has raised millions in its latest round.

Tvardi Therapeutics Inc. closed its $74 million series B funding round led by new investors 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.

"We are thrilled to move out of stealth mode and partner with this lineup of long-term institutional investors," says Imran Alibhai, CEO at Tvardi. "With this financing we are positioned to advance the clinical development of our small molecule inhibitors of STAT3 into mid-stage trials as well as grow our team."

Through Slate Path Capital's investment, Jamie McNab, partner at the firm, will join Tvardi's board of directors.

"Tvardi is the leader in the field of STAT3 biology and has compelling proof of concept clinical data," McNab says in the release. "I look forward to partnering with the management team to advance Tvardi's mission to develop a new class of breakthrough medicines for cancer, chronic inflammation, and fibrosis."

Tvardi's latest fundraise will go toward supporting the company's products in their mid-stage trials for cancer and fibrosis. According to the release, Tvardi's lead product, TTI-101, is being studied in a Phase 1 trial of patients with advanced solid tumors who have failed all lines of therapy. So far, the drug has been well-received and shown multiple durable radiographic objective responses in the cancer patients treated.

Dr. Keith Flaherty, who is a member of Tvardi's scientific advisory board and professor of medicine at Harvard Medical School, offered his support of the company.

"STAT3 is a compelling and validated target. Beyond its clinical activity, Tvardi's lead molecule, TTI-101, has demonstrated direct downregulation of STAT3 in patients," he says in the release. "As a physician, I am eager to see the potential of Tvardi's molecules in diseases of high unmet medical need where STAT3 is a key driver."

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