Saranas Inc, a GOOSE portfolio company and Houston-based medical device startup, recently closed a round of $2.8 million to kick off clinical trails for their Early Bird Bleed Monitoring System. This round brings their total funding to $12 million.
Early Bird Bleed Monitoring System, invented by Dr. Mehdi Razavi at the Texas Heart Institute, is meant to detect bleeding complications during procedures. The company anticipates FDA approval in early 2019.
SiNode Systems, a Chicago-based developer of advanced materials out of Northwestern, and JNC Corporation, a Tokyo-based speciality chemical manufacturer, announced the formation of NanoGraf Corporation, a joint venture focused on commercializing materials for the Lithium-ion battery industry. NanoGraf Corporation launches with $4.5 million and plans to expand commercial production and continue the development of additional materials platforms.
NanoGraf’s technology enhances the performance of battery materials via a proprietary graphene-wrapped silicon anode and can improve battery energy density by 50%.
Ashok Rao, Board Member of both SiNode and the GOOSE Society, was an integral part of the negotiations. GOOSE invested in SiNode Systems after the company won the grand prize at the 2013 Rice Business Plan Competition in Houston, TX.
See NanoGraf’s media page for the full press release.
The Texas Medical Center, Houston – TMC is the world’s largest medical center with over 100,000 employees and 170,000 operations performed each year. With a center larger than even the 2nd and 3rd medical centers combined, it has never been faster and easier to drive from lab research to operation room in minutes.
TMCx is an accelerator that aims “to advance the development of health and medical technology companies by connecting visionary entrepreneurs to the abundant resources of the Texas Medical Center.”
Yesterday TMCx hosted the 2018 Digital Health Demo Day. Prior to the start of the pitches, the room was filled with excitement and anticipation as the young companies prepared themselves to stand before what Tim Buffet (TMCx Advisor) called “record breaking crowds.” The TMCx Digital Health Demo Day hit a record number of 824 registered attendees with 500 viewers on the live webcast. Buffet added “It has been very cool to watch the companies’ ideas grow into something spectacular like this.”
One of the attendees noted how exciting it is to see such forward looking technologies and technology companies plugging into the Houston ecosystem. One of those such companies, Particle Health (New York), is a blockchain-based consent management platform which enables a radical new way to securely facilitate the exchange of healthcare information across institutions.
Particle Health addresses a current challenge: clinical health data is siloed behind a healthcare organization’s inundated administers and technology stacks, and this is becoming an increasingly expensive and time-consuming process.
Their solution puts the patient at the center of the authorization process, allowing them to manage the consent of what and to whom their data can be shared. With patients engaged, this platform enables healthcare organizations to regulate the access to their patient’s data securely and efficiently.
Here, blockchain is key. It allows for Particle Health to automate the sharing of granular information individually, securely, and anonymously without the need for a ‘middle-man’ and immutably track each transaction.
Overall, TMCx Digital Health 2018 was a spectacular experience that not only drew in life science individuals and investors, but any individuals or investors who enjoy hearing brain stimulating pitches and learning about the cutting edge technology coming out of Houston.
Congratulations to all of the teams and to TMCx for another successful accelerator class – we are all excited to watch these companies continue their growth.
Here are the rest of the startup companies that presented Thursday afternoon:
Abaka Health (San Francisco) – Abaka Health helps providers create a better end-to-end patient experience by bringing together the clinical and financial aspects of health care into one easy-to-use platform.
Agathos (San Francisco) – Reduces unnecessary variation in hospital care via individualized metrics, actionable feedback and physician-led behavior change.
B.Well (Baltimore) – Empowering consumers by aggregating their health care data by providing incentivized care coordination, along with concierge and matching services.
Deep 6 AI (Pasadena California) – Using artificial intelligence on clinical data to increase the quantity, and find better-matched patients, for clinical trials in minutes, instead of months.
Dermasenor (Miami) – Connected device enabling health care professionals and patients to efficiently check for skin cancer by leveraging cutting-edge technologies.
Evidence Care (Nashville, Tennessee) – Clinical decision support tool that allows providers to access evidence-based treatment recommendations that are patient-focused, enhance the shared decision-making process and accelerate their EHR workflow.
Gain Life (Boston) – Digital platform using personalized and adaptive behavior change programs to engage indivudals in achieving better outcomes.
KlitKit (Denmark) – Smart button and application that monitors, analyzes and improves habits and behaviors.
Luminare (Houston) – Anti-sepsis SaaS incorporating behavioral change and intelligent medical record augmentation.
NarrativeDx (Austin) – Artifical intelligence platform identifying insights from patient feedback to improve CAHPS scores, increase referrals and reduce nurse turnover.
Orintel (Houston) – Hardware and software solutions providing operational support and real-time OR status to deliver a more cost-effective surgical suite to staff and patients.
Patients We Share (Houston) – Workflow communication application using machine learning to foster connectivity within the health care ecosystem, aligning patients with the most appropriate providers, product and services.
Revealix (Austin) – Innovative medical imaging software service pioneering early discovery of diabetic limb complications which is non-invasive, mobile and at the point-of-care.
ScalaMed (Australia) – Blockchain prescription solution which re-routes prescriptions to the patient, creating engaged, empowered, and educated patients, and allowing patients to choose a pharmacy based on convenience and value.
ScenceTech (Austin) – Autonomous, continuous monitoring electrocardiogram and heart rate variability bracelet using a proprietary ECG/HRV cloud-based interpretation platform.
Softcare Studios (Italy) – Immersive virtual reality experiences aimed at improving the well-being of patients undergoing painful and anxiety-provoking procedures during therapy.
Strados Labs (Philadelphia, PA) – Continuous breathing sensor that connects doctors with asthma and COPD patients to improve care management and remote patient monitoring.
Sunrise Health (Boston) – Text-based group support for behavioral health patients utilizing artificial intelligence tools to increase provider capacity and catch complications early.
Trayt (Redwoods City, California) – Data collection and analytics company providing insights and a daily road map to improve diagnosis, treatments and quality of life for patients with brain disorders.
Trusted Health (San Francisco) – Opportunity platform for the modern nurse, connecting top RNs to flexible nursing jobs at innovative employers.
Well Health (Santa Barbara, California) – An intuitive two-way texting platform for front office and patients that eliminates phone tag and improves the health care experience.
Thank you to TNVC for providing this press release!
[Houston, Texas, May 25th, 2018 ] Two companies stood out from the competition and each earned $30,000 investment prizes from GOOSE Society at last week’s Texas A&M New Ventures Competition (TNVC) in College Station. Each of these companies will also be invited the pitch to the exclusive group of super-angel investors, which comes with an opportunity to get much more funding. GOOSE judges included Louis Raspino (finals judge), David Klein, and Samantha Lewis.
Houston–based Arovia, creators of the Spontaneous Pop-Up Display (SPUD), was awarded a GOOSE Society investment prize, as well as $50,000 as the overall winner of the 2018 TNVC.
Arovia Co-Founder, President and CEO Alexander Wesley, a Rice Business Alum, said he was excited to win the competition because he doesn’t consider pitching competitions to be his specialty.
“I’m definitely not a natural pitcher, but I love our product, I love our team and the state of Texas has been really great for us as well,” Wesley said. “I definitely don’t view myself as being a stellar pitch man so I had no expectation at all, but I’m glad the enthusiasm I have for our product and our team and what we’re doing for our customers comes through.”
The second company awarded an investment prize by GOOSE was Houston-based and TMC Biodesign Alum, M&S Biotics, which is developing an autonomous internet of things solution to detect, track, count and locate surgical items within the operating room in real-time. They hope to effectively automate the surgical counting process while providing downstream analytics regarding instrument utilization by leveraging machine learning. M&S Biotics also earned $25,000 by finishing third overall in the competition.
Samantha Lewis, Director of the GOOSE Society said she was impressed with the company’s accepted into the competition and appreciates the diligence TNVC provides beforehand. “The two teams we chose were able to field the tough questions that were asked of them and clearly communicate their value proposition and traction. We also liked the Houston ties, of course!”
Both companies will also have the opportunity to pitch at the next GOOSE Society investment meeting, which can present an even bigger opportunity.
Samantha commented on what a great experience “the geese” had in College Station and is excited about growing the relationship between TNVC and the GOOSE Society. “GOOSE cares about the Texas ecosystem and TNVC is just another way we can do our part to boost entrepreneurship in the state and help startup companies.”
The Rice Business Plan Competition (RBPC) is the largest and richest graduate-level student startup competition in the world. Since its inception in 2001, RBPC has grown from 9 competing teams with $10,000 in prize money to 42 teams from around the world competing for more than $1.5 million in cash and investment prizes. In 2005, as a way to support budding entrepreneurs and give back to the Houston community, Jack Gill and 4 other investors decided to form the GOOSE Society and give the grand prize at RBPC. The GOOSE grand prize is now $300,000 with the potential of a much larger investment.
Out of the twelve winners since GOOSE’s inception, there have been 4 successful exits with the most recent being Adhesys Medical (formerly Medical Adhesive Revolution). Another noteworthy exit was Auditude which sold to Adobe. Overall, RBPC winners have returned 2x more capital to the GOOSE Society than invested.