TAE Life Sciences, a Foothill Ranch, CA-based medical technology company developing an accelerator-based platform for clinical investigation of a promising, previously inaccessible cancer treatment, raised $40m in venture capital funding.
The round was led by Artis Ventures.
TAE Life Sciences, a majority owned subsidiary of TAE Technologies, is led by Bruce Bauer, PhD, CEO. In addition, Artis Ventures co-founder and President, Stuart Peterson, serves on the board of directors, along with TAE Technologies CEO, Steven Specker; President/CTO, Michl Binderbauer; and Vice President, Artem Smirnov.
TAE Life Sciences will leverage TAE Technologies’ accelerator-based neutron beam technology for Boron Neutron Capture Therapy (BNCT) to bring promising treatment potential for head and neck, glioblastoma multiforme (GBM) and other cancers that are difficult to treat with traditional methods.
The company will work with clinical research partners to investigate the use of accelerator-based BNCT, become a primary supplier of neutron beams for BNCT, and speed the development of its own proprietary beam systems toward regulatory clearance allowing for routine patient treatment.
TAE is also announcing its partnership with Neuboron Medtech, Ltd., a Chinese company leading BNCT investigation in Asia.
TAE Life Sciences will deliver its neutron beam system to Neuboron for its first installation in a medical application.
The device being developed by the company is currently for investigational use only and has not been approved for sale or commercial use.