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University of Texas ranks as one of the world's most innovative schools

The University of Texas System scooted up three spots from 2017. University of Texas at Austin/Facebook

A new ranking from Reuters has placed the University of Texas System among the world's most innovative universities.

According to an October 11 release, the Reuters Top 100: The World's Most Innovative Universities "identifies and ranks the educational institutions doing the most to advance science, invent new technologies and power new markets and industries." The UT System ranked No. 6 out of the 100 best in the world. The 2018 ranking is a jump up from its No. 9 spot in 2017.

In addition to the flagship University of Texas at Austin, the system is comprised of seven other public universities across the state as well as six health institutions. Reuters notes that because of how the UT System reports on innovation, it assessed the entire enterprise rather than individual universities.

As a whole, the UT System boasts an impressive number of accolades that helped it scoot up three spots. As Reuters notes, chief among these accolades is the National Science Foundation's $60 million grant to the Texas Advanced Computing Center at the University of Texas at Austin to build a supercomputer and the system's $2.7 billion in annual research expenditures. (Not to mention numerous Nobel Laureates among both faculty and alumni.)

Overall, the U.S. dominated the list, claiming 46 out of the 100 spots. Rounding out the top 10 for 2018 is: No. 1, Stanford University; No. 2, Massachusetts Institute of Technology; No. 3, Harvard University; No. 4, University of Pennsylvania; No. 5, University of Washington; No. 7, Belgium's KU Leuven, No. 8, U.K.'s Imperial College London; No. 9, University of North Carolina at Chapel Hill; and No. 10, Vanderbilt University.

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This story originally appeared on CultureMap.

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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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