28 Jul 2015 07:00
28 July 2015
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Delivery of additional CCL unit and update on Harley Street
In-line for high-power testing
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that the second Coupled Cavity Linac ("CCL") unit has been manufactured and delivered to the Company's testing facility in Geneva.
The CCL accelerating structures are an essential part of the LIGHT proton therapy system. They consist of a series of cells which accelerate the protons from energies of 37.5 Mega-electron Volts ("MeV") to the high energies required to treat radiosensitive tumours in a clinical setting. The finished LIGHT system will incorporate ten CCL units in total.
In addition, the first two Radio Frequency ("RF") power Units, both the Modulator from Scandinova and the Klystron from Toshiba, have been delivered on schedule to Geneva following initial successful testing and will be used in the next few weeks to start CCL high-power testing, in-line with the timetable provided by the Company to shareholders in November 2014.
As well as this, the Company announces that Howard de Walden Estates Limited, which in January 2015 granted a 50 year lease to the Company for the Harley Street site, has agreed to expand the agreement beyond the 8,000 sq ft space agreed in the original lease. This would allow the Company to develop a Proton Therapy Centre on the same site but with an extended footprint, offering potential operators a larger overall facility to manage. The additional planning permission and reconfiguration of the original site plans will have an impact on the start date for work on the site, however the Company remains on schedule in its technology development to have its first LIGHT system ready for patient treatment in 2017.
Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: "This latest update shows that we continue to remain on target for the successful delivery of our first LIGHT system in-line with the timetable that we outlined to investors. We do have the opportunity to extend the footprint of our site in Harley Street, which could allow us to develop a bigger and better Proton Therapy Centre in Central London, and I look forward to updating shareholders as this progresses. Our focus still remains on the end-goal of having our technology ready for first patient treatment in 2017."
Advanced Oncotherapy Plc | www.avoplc.com |
Sanjeev Pandya, CEO | Tel: +44 20 3617 8728 |
Nicolas Serandour, CFO | |
Westhouse Securities (Nomad & Joint Broker) | |
Antonio Bossi / David Coaten | Tel: +44 20 7601 6100 |
Beaufort Securities (Joint Broker) | |
Jon Levinson / Zoe Alexander | Tel: +44 20 7382 8300 |
Walbrook PR (Financial PR & IR) | Tel: +44 20 7933 8780 or avo@walbrookpr.com |
Paul McManus / Anna Dunphy | Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
About Advanced Oncotherapy Plc www.avoplc.com
Advanced Oncotherapy's team "ADAM" based in Geneva focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit that is a quarter of the size and between a quarter and a fifth of the cost. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older technologies.
Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects.
The Company has signed a purchase agreement with Sinophi Healthcare Limited for one LIGHT proton therapy system to be installed in a hospital in China and has further Letters of Intent from other healthcare providers.
Advanced Oncotherapy continually monitors the market for any emerging improvements in delivering proton therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, the Company will remain the prime provider of an innovative and cost-effective system for particle therapy with protons.