FOOTHILL RANCH, Calif., March 12, 2018 /PRNewswire/ -- TAE Technologies, Inc., the world's largest and most advanced
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.
For more information on TAE Technologies, visit www.tae.com. For more information on TAE Life Sciences, 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 TECHNOLOGIES, INC.: TAE Technologies is leveraging proprietary science and engineering to tackle the world's biggest challenges. Our core mission is to create a new source of clean energy one that's powered by nature's own processes and produces no harmful byproducts. It's what we call Friendly Fusion. Our groundbreaking work has resulted in industry-wide advances in accelerator and plasma physics, and acted as a catalyst for adjacent innovations in healthcare, transportation and power management. With 20 years of focused research, TAE Technologies is on a purposeful path to commercial fusion energy and pioneering sustainable solutions for a better tomorrow.
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SOURCE TAE Technologies, Inc.
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