TAE Life Sciences said yesterday it raised $40 million in venture capital to support the development of its neutron beam technology designed as a potential treatment for head and neck, glioblastoma multiforme and other cancers.
The newly launched Foothill Ranch, Calif.-based company, which operates as a subsidiary of fusion energy company TAE Technologies, is developing neutron beam technology intended for Boron Neutron Capture Therapy.
As part of the company’s launch, it announced that it is partnering with Chinese BNCT company Neuboron Medtech, and that its first neutron beam system will be delivered to Neuboron for its first medical use.
“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,” TAE Life Sciences CEO Bruce Bauer said in a press release.
BNCT is designed to treat multi-centric, sometimes inoperable tumors diffusely embedded in normal tissue intended to provide minimal harm to healthy cells. TAE Life Science’s proprietary BNCT platform includes a tunable neutron beam and compact form factor, the company said.
Funding in the round was led by Artis Ventures, and TAE Life Sciences said it plans to work with clinical research partners to investigate the use of accelerator-based BNCT to hasten development of its proprietary beam systems as it pursues regulatory clearance.
“TAE Life Sciences has a differentiated platform in the world of nuclear medicine and oncology, and is backed by strong, early results. Their seasoned team has already shown they can execute in a short period of time while continuing to garner interest from across the globe. As early lead investors, we look forward to helping TAE Life Sciences in a similar capacity as our work with Stemcentrx. Both companies have striking similarities in their potential to reshape the future of oncology,” Artis Ventures co-founder and prez Stuart Peterson said in a prepared statement.
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