HOUSTON--(BUSINESS WIRE)--Portal Innovations, a life sciences venture capital firm, today announced its expansion into Houston, Texas, partnering with the Texas Medical Center (TMC) to drive early-stage biotech and medtech startups. The company will operate 30,000 square feet of world-class lab and office space in the TMC3 Collaborative Building within TMC’s new Helix Park complex, a 37-acre mixed-use campus with a focus on therapeutic and diagnostic research.
The expansion marks Portal’s continued growth as a national life sciences VC and portfolio development company, expanding its capabilities with support from capital partners Beacon Capital and ZoE Life Sciences.
“Houston is one of the fastest-growing cities in the U.S., and home to one of the world’s leading cancer research institutions, The University of Texas MD Anderson Cancer Center,” said Portal’s Founder and CEO, John Flavin. “It’s critical for us to open in Texas and leverage nearby pipelines from Rice University, UTHealth Houston, Texas A&M, University of Houston, Baylor College of Medicine, and others across Houston’s innovative life sciences ecosystem. We’re thrilled to work with TMC to help grow tomorrow’s biotech and medtech leaders.”
Portal’s Houston presence and TMC collaboration will drive innovation for startups in a state that already claims more than 4,800 biotech companies. In addition, Portal will gain access to TMC’s expansive network of healthcare institutions, research organizations, and commercialization resources within a unique and robust infrastructure for startups. Together, the organizations will offer support such as leadership mentoring, life sciences events, venture capital pitch days, and career networking opportunities.
"TMC has steadily been building an innovation ecosystem in Houston through initiatives like the TMC Venture Fund, our incubator programs, and our global BioBridge relationships," said Bill McKeon, CEO of Texas Medical Center. “In Portal, we have a partner with a proven track record of leveraging venture capital funding, expert partners, and strong programming to support dynamic, entrepreneurial businesses at pivotal moments of their growth. We look forward to building on our collective expertise and shared vision to further support the breakthroughs of early-stage life science ventures.”
Designed to unite healthcare, life science, and business users, TMC Helix Park is anchored by research labs, large-scale commercial spaces, retail, a hotel and conference center, and public green space, all within approximately 6 million developed square feet. Portal will move into Helix Park’s TMC3 Collaborative Building in Q2 2024, actively looking for investments and offering premier lab facilities and development resources to startups between seed and Series B rounds.
“We’re excited about expanding our partnership with Portal Innovations and TMC to support the life sciences ecosystem in Houston,” said Fred Seigel, President and CEO of Beacon Capital Partners. “Portal has been at the forefront of breaking into emerging U.S. markets, and Houston represents a prime opportunity to expand our commitment to growing life sciences across the U.S.”
Houston is poised to become the leading U.S. life sciences hub, with a flourishing infrastructure that includes major academic institutions, world-class research centers, and a large and diverse talent pool. With its strong focus on innovation and entrepreneurship, Houston is the ideal location for Portal Innovations to continue its mission of supporting and investing in the next generation of life science startups.
Portal Innovations is a premier venture development engine with a presence in Chicago, Atlanta, and Boston, that bridges scientific ideation in life sciences through commercial proof of concept by delivering Crafted Capital, including seed funding, specialized equipment, lab space, and management expertise to high-potential early-stage companies. For more information about Portal Innovations and its portfolio companies, please visit https: /www.portalinnovations.com/.
Texas Medical Center (“TMC”) is the world’s most comprehensive life science ecosystem at the forefront of advancing life sciences. TMC is on a mission to further accelerate the pace of healing by harnessing our collective expertise in innovation, research, development, production, and patient care within a single, centralized medical ecosystem. With over 70+ million square feet and 120,000+ employees, TMC is leveraging the collective power by pioneering a revolutionary life sciences initiative to house the entire treatment of life cycle from discovery to delivery, within a single, world-class medical complex, on a scale never before seen.
