US-based fusion energy technology developer TAE Technologies launched an oncology technology spinoff called TAE Life Sciences on Monday with $40m of series A funding.
Venture capital firm Artis Ventures led the round, and Stuart Peterson, the firm’s co-founder and president, has taken a seat on TAE Life Sciences’ board of directors.
The company is developing neutron beam technology that will be used for Boron Neutron Capture Therapy (BNCT), a form of cancer treatment in which a patient is injected with a boron isotope that is then irradiated to selectively kill tumour cells.
The accelerator beam-based technology is intended to treat glioblastoma multiforme and head and neck cancers. TAE has also formed a partnership with Neuboron Medtech, a China-based BNCT developer that will provide TAE with the chance to use its system in a medical application.
TAE Life Sciences CEO Bruce Bauer said: “I am pleased to be publicly launching TAE Life Sciences, and for the opportunity to provide solutions for aggressive and late-stage cancer with promising new applications of accelerator-based neutron beam technology
“BNCT has been investigated as a promising area of treatment for some time, but challenged by the limited radiation options for convenient clinical practice.
“Now, TAE Life Sciences stands ready to offer a compelling and compassionate application of medical science innovation, increasing accessibility to treatment options for a challenging disease, and improving outcomes for patients around the world.”