TAE Life Sciences to Develop Groundbreaking Therapy for Difficult-to-Treat Cancers, including Head, Neck and GBM; Announces $40 Million Series A Funding
FOOTHILL RANCH, Calif., March 12, 2018 /PRNewswire/ -- TAE Life Sciences, a medical technology company developing an accelerator-based platform for clinical investigation of a promising, previously inaccessible cancer treatment, made its public debut today.
TAE Life Sciences has exclusively licensed intellectual property from TAE Technologies, Inc., the world's largest and most advanced private fusion energy company. TAE Life Sciences is leveraging TAE Technologies' unique 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 or impossible to treat with traditional methods.
In tandem with the public announcement of its launch, TAE Life Sciences 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.
BNCT represents a growing global market opportunity of more than $30B and is one of the only treatments for multi-centric, often inoperable tumors that are diffusely embedded in normal tissue, while providing minimal harm to healthy cells. BNCT has shown effectiveness in isolated research settings, although not widely available as a complementary cancer treatment option because of the lack of patient access to a convenient therapeutic neutron source. The proprietary TAE Life Sciences' accelerator-based platform offers strong potential advantages including a tunable neutron beam, compact size, high reliability and relatively low total cost of ownership.
The unique beam configuration developed at TAE Technologies is at the core of the company's innovative pathway for cancer treatment. Utilizing their accelerator-based beam technology, TAE Life Sciences is developing a holistic clinical platform for the next generation of BNCT: low energy neutron beams capable of catering to unique clinical treatment protocols with a precise ability to modulate beam spectrum and intensity, coupled with a practical footprint for typical hospital radiation treatment settings.
TAE Life Sciences Raises $40M Led by ARTIS Ventures
TAE Life Sciences, a majority owned subsidiary of TAE Technologies, has raised $40 million in venture capital, with ARTIS Ventures leading the first round of funding. Bruce Bauer, PhD, leads as CEO. Bauer is a founder of Newbury Ventures, an international venture capital firm, and has led investments in healthcare, security, imaging, enterprise software and industrial business for over 20 years. Before founding Newbury Ventures, Bauer was a Principal at Berkeley International Capital, directing the firm's healthcare investments. 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.
"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," said Bauer. "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 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," said Stuart Peterson, co-founder and president of ARTIS Ventures. "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."
TAE Life Sciences will work with leading 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.
For more information, visit www.taelifesciences.com
The device being developed by TAE Life Sciences is currently for investigational use only and has not been approved for sale or commercial use.
ABOUT TAE LIFE SCIENCES: At TAE Life Sciences, our mission is to advance Boron Neutron Capture Therapy (BNCT). Our foundational accelerator beam technology is derived from decades of development by TAE Technologies, Inc., an innovative leader in fusion energy technology. Leveraging their groundbreaking work for clinical investigation, TAE Life Sciences is developing the next generation of low-energy neutron beams - optimized for BNCT and practical for typical hospital settings. We have assembled a world-class, cross-functional team of clinicians, radiation oncologists, physicists and other researchers to enable us to bring our technology to those who need it most.
CONTACT: Tim Gnatek, (415) 381-1100, email@example.com
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SOURCE TAE Life Sciences