Energy firm spins out biotech with $40M series A

Energy company TAE Technologies Inc. (Foothill Ranch, Calif.) spun out TAE Life Sciences (Foothill Ranch, Calif.) into a biotech subsidiary to develop a radiation therapy for cancer. The spinout raised $40 million in a series A round led by Artis Ventures.

The newco is using TAE Technologies' accelerator-based neutron beam technology for boron neutron capture therapy (BNCT) to develop next-generation low-energy neutron beams to treat head and neck cancer, glioblastoma multiforme (GBM) and other cancers that are difficult or impossible to treat with traditional methods...