(Alliance News) - Advanced Oncotherapy PLC on Wednesday announced it has entered a partnership agreement with DiaMedCare AG, a Swiss asset financing partner in the life sciences and technology sectors.
The London-based provider of proton therapy for cancer treatment said the partnership agreement, which will cover projects in Europe and the US, will allow its customers easier access to its Light system, a form of proton beam therapy, through a flexible financing solution that reduces the need for large initial upfront payments from customers.
Shares in Advanced Oncotherapy were up 9.7% at 42.79 pence in London on Wednesday.
DiaMedCare will acquire the Light systems and lease them back to Advanced Oncotherapy's customers that are commissioning the system for oncology treatments. It also will be able to bridge manufacturing costs until delivery of the Light system is received by customers.
"We are pleased to sign this flexible financing agreement with such an experienced and specialised partner as DiaMedCare to support future sales of our Light systems. The modularity of the Light system allows Advanced Oncotherapy to offer its customers this unique financing opportunity and enable wider access to the Light system. We believe this partnership will significantly increase our pipeline of sales opportunities and democratise proton beam therapy," said Chief Executive Nicolas Serandour.
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Advanced Oncotherapy (AVO)