US-based fusion energy company TAE Technologies has formed a life sciences subsidiary that will focus on the development of new oncology therapies.
Dubbed TAE Life Sciences, the new subsidiary will be majority owned by TAE Technologies. TAE Life Sciences has already raised $40m in venture capital.
The newly launched venture will utilise TAE Technologies’ accelerator-based neutron beam technology. The technology will be used for boron neutron capture therapy (BNCT) devised treatments for difficult-to-treat tumours such as head and neck cancer, and glioblastoma multiforme (GBM).
The accelerator technology, which uses high-intensity beams to inject energy particles into plasma to improve stability and performance, will be rolled out onto a holistic clinical platform to advance BNCT as a cancer treatment.
With a market value of more than $30bn, BNCT is considered to be one of the few relatively safe therapy options available for multi-centric, mostly inoperable tumours embedded in normal tissue.
TAE intends to make its neutron beam system a cost-effective neutrons source that can be used in hospitals for a variety of applications.
TAE Technologies CEO Steven Speck said: “Launching TAE Life Sciences allows us to continue concentrating on our core focus of realising fusion energy, while successfully positioning this subsidiary company to leverage our technology and talent for a significant opportunity in cancer treatment.
“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 realise new commercialisation pathways based on our work, each with promise to address global problems in new and disruptive ways.”
TAE Life Sciences has also announced a collaboration with Chinese firm Neuboron Medtech, which is primarily invested in BNCT investigation in Asia.
Neuboron’s first neutron beam system with a medical application will be supplied by TAE Life Sciences.