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GOOSE Leads Lantha Inc’s $2.6M Series A

First Financing by GOOSE into a University of Texas Technology

Houston, TX, October 2, 2019

The GOOSE Society of Texas and Lantha Inc., a solid-state chemical sensor start-up, today announced the closing of a $2.6 million Series A Preferred Stock financing.  Proceeds will be used to finalize the development of Lantha’s commercial products, hire key personnel, and further buttress and expand Lantha’s intellectual property portfolio. The company expects to have its initial product on the market by the first quarter of next year.

Lantha has developed a unique, broadly applicable chemical sensor platform technology that it expects will disrupt many markets, including moisture analysis, trace chemical detection and analysis and fuel integrity testing.  The technology is a novel form of solid-state chemical sensors invented by research chemists at the University of Texas.  Dr. Simon Humphrey, Associate Professor of Chemistry at UT, is the principal inventor and Chief Technology Officer (CTO) at Lantha.

Lantha’s hand-held reader and single-use, disposable solid-state sensors are faster, cheaper and easier to use than traditional analytic tools such as NMR, FTIR and Karl Fischer Titration, and are just as accurate.  Robert Toker, CEO and Chairman of Lantha, said, “We have world class scientists, who are the inventors of our technology, and a strong founding team, and we’ve attracted a great group of investors led by Jeff Smisek and the GOOSE Society in Houston as well as several prominent investors associated with the University of Texas at Austin. Jeff, Samantha Lewis, Executive Director of the GOOSE Society, and the entire GOOSE team are now our team; they have invested not only their capital but also considerable time, energy and wisdom that have improved our information and decision-making quality.  Partnering with GOOSE has materially improved our chances of success.”

This is the GOOSE Society’s first investment into a UT technology.  “We are excited about expanding GOOSE’s investment efforts to UT and look forward to future collaborations and deals,” said Lewis. Several high-profile investors from the UT community invested in Lantha’s Series A Preferred Stock alongside GOOSE investors.

Jeff Smisek, founder of investment firm Flight Partners Management LLC, led the deal and will take a seat on Lantha’s board of directors.  He said, Jeff Smisek, Houston Texas super angel investors“Lantha is a great example of the GOOSE Society’s investment thesis — a company with proprietary and disruptive technology, low capital costs, large addressable markets, speedy product development and high margins which can benefit from the vast experience and contacts of the GOOSE Society’s investors. We are proud to lead this financing and look forward to working closely with Lantha’s management and world class scientists as they build a powerhouse in the field-based chemical analysis market.”

About GOOSE Society:

The GOOSE Society of Texas is a Houston based investment group comprised of high net worth, successful business executives and investors.  GOOSE has invested over $50 million in early stage start-ups and has had numerous successful exits.  The group invests around $10 million per year across a variety of industries, but with a focus on breakthrough, proprietary technologies.

About Lantha:

Lantha is commercializing a novel technology developed by research chemists at the University of Texas that allows rapid, low-cost, point-of-use trace chemical detection and measurement.  The company’s proprietary metal organic framework (MOF) sensor technology, called PCM-22, consists of a MOF framework embedded with chromophores and lanthanide ions, all on a nano-scale, that emit unique color and intensity signals in the presence of analytes upon exposure to ultraviolet light, permitting highly accurate chemical measurement.  Lantha has significant addressable markets across a large range of industries, ranging from pharmaceuticals to oil and gas to water to defense.

Additional Press:

Innovation Map Article

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GOOSE Portfolio Company Saranas Heads to Clinical Trials

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.

In 2017, Saranas was named a finalist for the International Cardiovascular Innovation Award:  one of the most prestigious awards for medical startups worldwide.

startups, ICI, Innovation, GOOSE Society, Houston Funding, Venture
Dr. Phillippe Géneréux (CMO), Kevin Maples (Board Director), and Zaffer Syed (CEO) at the International Conference for Innovations in Isreal.

Larry Lawson, GOOSE board member, and Kevin Maples, a close friend of GOOSE and son-in-law of GOOSE member Dan Steppe, sit on the Board of Directors for Saranas.

A big thank you to Houston Innovation Map and Business Wire for covering Saranas in full detail and the Texas Medical Center Innovation Institute for the support offered to Saranas and countless other healthcare startups.

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GOOSE Society Summer Investment Meeting

This past Thursday, June 21, 2018 the GOOSE Society of Texas hosted their summer investment meeting at the Jones Graduate School of Business at Rice University.  The geese hosted eight companies, two special guest speakers who provided a venture capital community update and swore in a new GOOSE member!

Alex Wesley, CEO of Arovia, on stage at the Texas A&M New Ventures Competition where his company took home the grand prize.

Out of the eight companies presenting GOOSE heard from many different verticals located in 4 different geographies, including Silicon Valley, China, and of course, Houston. The industries presented were consumer electronics, artificial intelligence, robotics, medical devices, and lastly manufacturing in specialty chemicals.  The GOOSE Society was pleased to have hosted Forest Devices, the 2017 Rice Business Plan Competition (RBPC) winner that is working towards the better treatment of stroke patients with their device, AlphaStroke.  The group also heard from the two GOOSE Society Prize winners of the Texas A&M New Ventures Competition, Arovia and M&S Biotics.

The special attendees were Gina Luna & Russ Capper who represented Houston Exponential (HX), an independent 501C-3 organization that supports the growth of the Houston innovation economy. HX leads on the opportunities that require collaboration across the ecosystem, champions the ecosystem by telling the innovation story of the region and its firms, and it builds and attracts the resources the innovation economy needs to thrive. Along with strong momentum powered by fourteen working groups operated with over two-hundred active volunteers from over fifty major corporations, HX has achieved a major milestone with its new innovation district. This 9.4 acre, $100 million redevelopment by Rice University of the Sears building in Midtown is expected to be complete in two years and will bring a district of dense, mixed used space that attracts talent and creates collisions among entrepreneurs, investors, academics and other ecosystem players.

The GOOSE Society of Texas is also thrilled to have sworn in a new member, Cris Gaut, the Chairman and CEO at Forum Energy Technologies!

The GOOSE Society of Texas looks forward to its next investment meeting in September.

 

Special thanks to Blake George, GOOSE Analyst for writing this update.

TMCx Digital Health 2018 Pitch Day: Artificial Intelligence, Advanced Patient Care, Record Breaking Attendance & More

 

 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.”

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Cody Simmons, CEO of DermaSensor

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.

Written by Blake George, GOOSE Society Analyst.

 

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The Rice Business Plan Competition and GOOSE have Deep Roots

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.

The early successes of GOOSE and RBPC are closely linked as both organizations helped the other to scale.  Over the thirteen year partnership, the Rice Alliance (RBPC) and the GOOSE Society have helped Rice Entrepreneurship climb to #2 in rankings published by Princeton Review and Entrepreneur Magazine.

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.

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The GOOSE Society and 2017 RBPC Winner Forest Devices.  The GOOSE Society invested the $300,000 grand prize and an additional $1.7 million bringing total investment to $2,000,000.

Click here to vote for the 2018 $5,000 People’s Choice Award sponsored by Sofihttps://poll.fbapp.io/rbpc-2018-poll

The GOOSE Society of Texas is an organization dedicated to the education and funding of entrepreneurs.  We are headquartered in Houston, TX and are dedicated to helping build the Houston entrepreneurial and startup funding ecosystem.

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