Advanced Oncotherapy Completes Harley Street Structural Works

(Alliance News) - Advanced Oncotherapy PLC, which is developing proton therapy systems for cancer treatment, said on Monday structural building work at its first proposed commercial installation is complete.

The Harley Street refurbishment project, worth GBP10.0 million, will now move into its fit-out phase which will see the company move its Linac Image Guided Hadron Technology system into the building.

Advanced Oncotherapy says LIGHT is a more "cost-effective" proton beam treatment and better suited to densely populated areas because it reduced the level of unwanted induced radiation.

The company initially received a 50-year lease on the site in 2015 with Howard de Walden Estate Ltd agreeing to pay for the redevelopment. In October 2016, the company received planning permission from Westminster City Council to begin work on Harley Street.

Chief Executive Nicolas Serandour said: "I am delighted that we have reached another important milestone in the pathway towards the first commercial installation of our technology. We are committed to creating a cost-effective proton therapy technology that will offer cancer patients better outcomes with lower treatment side-effects, and at the same time affordable enough to be made available to everyone who needs it.

"Once operational this centre is expected to be the world's first-ever centrally located, lifesaving proton therapy centre, in what was originally a residential dwelling."

In June, the company expects to treat its first patient at Harley Street in 2020.

Shares in Advanced Oncotherapy were down 1% at 38.10 pence each in London on Monday afternoon.