No surprises7 Dec 2017 08:54
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has signed an exclusive distribution agreement (the "Distribution Agreement") with Yantai CIPU Medical Technology Co. Ltd. ("Yantai CIPU") to market and sell Advanced Oncotherapy's LIGHT system across China, Macau, Taiwan, Hong-Kong and South Korea. Under the agreement, Yantai CIPU will make a payment of £16.5 million to Advanced Oncotherapy.
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At the same time, the Company has secured £20.9 million of equity investments to fund the continuing technical development of its first LIGHT system and its installation at the Harley Street Proton Therapy Centre.
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Key highlights
·    Advanced Oncotherapy to raise a total £37.4 million of financing, of which £30.0 million from Yantai CIPU and £7.4 million from other investors;
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