5:00 AM
Mar 12, 2018
 |  BC Extra  |  Financial News

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.

TAE Life Sciences is led by CEO Bruce Bauer, who also founded international VC firm Newbury Ventures.

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