TAE Technologies Announces First Subsidiary Company for Life Sciences with Potential to Reshape the World of Oncology
New Company Draws from Fusion Energy Breakthroughs to Provide Technology for a Promising, Investigative Cancer Treatment
TAE Technologies Inc., the world’s largest and most advanced private fusion energy company, today publicly announced the launch of TAE Life Sciences, a majority owned subsidiary of TAE Technologies. TAE Life Sciences will be focused on commercializing medical innovations 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.
Beam configurations are a key component of TAE Technologies’ innovative approach to fusion, where high intensity beams inject energetic particles into plasma to increase stability and performance. TAE Life Sciences will deploy this same patented accelerator-based beam technology in a holistic clinical platform to advance the potential of BNCT as a practical, widely accessible cancer treatment.
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. The revolutionary neutron beam system will be sized to fit in typical hospital facilities and provide a cost-effective source for neutrons that can be precision tuned for variable applications.
TAE Life Sciences has raised $40 million in venture capital, and is led by CEO Bruce Bauer, PhD. For more than 20 years, Bauer has led investments in healthcare, security, imaging, enterprise software and industrial business; he brings significant experience in growing new and transformative medical companies. 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.
“Launching TAE Life Sciences allows us to continue concentrating on our core focus of realizing fusion energy, while successfully positioning this subsidiary company to leverage our technology and talent for a significant opportunity in cancer treatment,” said TAE Technologies CEO, Steven Specker. “Much like the NASA Apollo Program, which launched more than 6,000 new technologies like microchips and CAT scanners, we’re seizing the opportunity to realize new commercialization pathways based on our work – each with promise to address global problems in new and disruptive ways.”
TAE Life Sciences is the first company to publicly launch from the parent TAE Technologies, which recently marked an expansion of its business model to commercialize products and intellectual property developed in the course of advancing fusion energy technology. Future opportunities for commercializing TAE Technologies’ innovations include power management and transportation.
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 system to Neuboron for its first neutron beam installation in a medical application.
TAE Technologies’ recently won a 2018 U.S. Department of Energy INCITE Award and was named a 2018 Global Cleantech 100 Innovator. The company’s unique pathway to generating commercial fusion energy is through a proprietary beam-driven Field Reverse Configuration (FRC) plasma generator. Its fifth-generation device, Norman, recently achieved a company milestone, surpassing the performance of all previous efforts. The beam technology at the heart of Norman is a product of significant research and development, which TAE Technologies has led over the last two decades in the pursuit of fusion energy.
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 TECHNOLOGIES
TAE Technologies (pronounced T-A-E) was founded in 1998 to develop commercial fusion power with the cleanest environmental profile, and represents the fastest, most practical, and economically competitive solution to bring abundant energy to the grid. With over 900 issued patents, more than $880 million in private capital, six generations of National Laboratory-scale devices, and an experienced team of over 250 employees, TAE is now on the cusp of delivering this transformational energy source capable of sustaining the planet for centuries. The company’s revolutionary technologies have produced a robust portfolio of commercial innovations in other large adjacent markets such as power management, energy storage, transmission, electric mobility, life sciences, and more. TAE is based in California, and maintains international offices in the UK and Switzerland. Multidisciplinary and mission-driven by nature, TAE is leveraging proprietary science and engineering to create a bright future for us.