A HEALTHY BOOST FOR THE COOGS

University of Houston scores $1 million from top Texas foundation

The new $1 million gift will target top recruits. Photo courtesy of University of Houston

One of the most prestigious foundations in Texas has made a generous gift to a local university's fledgling medical department. The M.D. Anderson Foundation has pledged $1 million to the University of Houston College of Medicine, UH announced.

The sizable gift is meant to establish the M.D. Anderson Foundation Endowed Professorship in Medicine, specifically to recruit a leader in health care to join the College of Medicine faculty, according to a press release.

The gift, matched one-to-one by an anonymous donor to create a $2 million endowment, aims to support the new medical school's mission to improve health and health care in underserved communities in Houston and across Texas.

This isn't the first time the M.D. Anderson Foundation has supported UH. The foundation has gifted more than $6 million to UH Libraries, UH Law Center, Hobby School of Public Affairs, and the College of Medicine.

"Innovation in health care requires a fresh approach and a willingness to break down traditional silos to collaborate with experts in other health disciplines such as pharmacy, engineering, law and even data sciences, said Dr. Stephen Spann, founding dean of the UH College of Medicine," in a statement.

"By harnessing the power of data analytics, we can fundamentally change the way we deliver higher quality and cost-effective care to more people. Thanks to the M.D. Anderson Foundation's generosity and vision, we will be able to recruit a new faculty member who can help us greatly to accomplish these goals."

As previously reported, UH received a $50 million gift from an anonymous donor in 2019 to establish the "$100 Million Challenge," meant to recruit top nationally recognized and awarded research faculty for chairs and professorships, designed to inspire another $50 million in investments from additional donors.

Now, the school hopes to utilize these funds to address what the school describes as a "critical primary care physician shortage, especially in low-income and minority communities lacking access to a regular source of care and have gaps in preventative care, which leads to higher rates of sickness, hospitalization, and death."

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This article originally ran on CultureMap.

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Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


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