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Pin to quick picksAdvanced Oncotherapy Regulatory News (AVO)

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Investor presentation and Update

6 Mar 2017 15:30

RNS Number : 6494Y
Advanced Oncotherapy PLC
06 March 2017
 

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

 

Investor presentation and Update

 

Advanced Oncotherapy (AIM: AVO), the developer of next generation proton therapy systems for cancer treatment, will be hosting investor and analyst presentations in London later today and in Zürich, Switzerland, the following day, Tuesday 7 March 2017.

 

The presentations will outline some of the key aspects of Advanced Oncotherapy's technology, the clinical benefits of proton therapy, the rationale for using linear accelerators and the key milestones for the manufacturing and commercialisation of LIGHT (Linac for Image Guided Hadron Therapy). These events are in relation to the initial 100 day review that has been conducted by CEO Nicolas Serandour, as announced upon his appointment on 27 October 2016.

 

The Company's focus remains on delivering the technical development of its first LIGHT machine and its installation at Harley Street, which is pivotal to its future strategy. The details of the manufacturing and commercialisation process of Advanced Oncotherapy's LIGHT system, including installation at the Harley Street site, will be discussed during the presentation and are provided in the update below:

 

Harley Street

 

As announced last month, Deconstruct (UK) Limited has been appointed by Howard de Walden Estates as principal contractor to the project and were on site in January carrying out preliminary assessment and works. Following the preparatory works, excavation is due to commence on 27 March 2017.

 

All necessary tendering processes have been completed. Based on initial quotes, on-site excavation and build times for the core and shell are estimated to take between 62 and 96 weeks. Additional time of up to 52 weeks will be required for full fit-out, including the installation of cooling systems and power supplies. The construction time reflects the constraints associated with two listed buildings (141 and 143 Harley Street) in a residential area. Yet it compares favourably to building times associated with the construction of multi-room proton beam facilities using legacy technologies traditionally built in large and remote areas, which is in the range of three to four years on average. The site is therefore expected to be ready for installation by H1 2019. Following regulatory approval and commissioning, the first patient treatment at Harley Street is expected in H2 2020.

 

Production manufacturing site

 

The Company's strategy is to establish a mass production facility, which will be ready for production once regulatory approval for the LIGHT system is granted. The Company continues to advance the arrangements with its manufacturing partner, Thales, to establish two custom designed series production lines for volume production at their factory in Thonon, France. The production facility is expected to be ready to receive LIGHT system components in Q1 2018, with all components due to be installed to create a LIGHT system operating at the maximum required energy ahead of the expected completion of the building in Harley Street in H1 2019.

 

Technology development

 

As announced on 22 December 2016, the Company successfully integrated the proton source and Radio Frequency Quadruple (RFQ), and demonstrated a predictable acceleration of the proton beam through the RFQ with measurements that matched those expected from computer simulations. Following further testing at full power the Company successfully increased the acceleration and energy of the proton beam in February, from 40keV to 5MeV, which is the requirement for this module.

 

Further progress in the completion of the final stages of the manufacture of its first LIGHT system will continue throughout 2017 and the first LIGHT system is expected to be capable of treating superficial tumours in Q3 2018.

 

To maximise progress of the LIGHT system, the Company will have two testing facilities in Geneva, Switzerland and at Thales' facilities in Vélizy, France. Additional key development milestones are included in the table further below.

 

Commercial opportunities & Regulatory

 

The Harley Street site remains the first site where the LIGHT system will be installed. Discussions are also ongoing surrounding an agreement to supply a LIGHT system alongside Circle Health's planned new-build hospital in Birmingham.

 

The Company is in negotiations with a handful of sites in the USA as well as other operators in Europe, Asia and the Middle East. The Company remains confident that demand for its next-generation proton therapy system will be strong and that additional commercial sales will be secured in due course.

 

In addition, a number of meetings have been held with regulatory bodies in Europe, US and China, which provides the Company with confidence that they are pursuing a valid path to ensure future regulatory approvals.

 

A summary of key technical milestones is provided below:

 

By end Q2 2017

· Delivery of all CCL units

· Beam fired through RFQ

 

By end Q4 2017

· Beam through SCDTLs at an energy of 20-25MeV

· Development of the Patient Positioning System

 

By end Q2 2018

· Beam fired through the first CCL

· Directional dose delivery system (or Nozzle) ready for installation

 

By end Q3 2018

· Beam capable of treating superficial tumours

 

 

The slides that will be used in the presentations will be available on the Company website:

http://www.advancedoncotherapy.com/Investors/Results-reports-and-presentations

 

Anyone wishing to attend the investor presentations, and have yet to do so, should contact Walbrook PR on 020 7933 8780 or email avo@walbrookpr.com.

 

For further information, please contact:

 

Advanced Oncotherapy plc

www.avoplc.com

Nicolas Serandour, Chief Executive Officer

Tel: +44 20 3617 8728

Michael Sinclair, Executive Chairman

Stockdale Securities (Nomad & Joint Broker)

Tel: +44 20 7601 6100

Antonio Bossi / David Coaten

Stifel Nicolaus Europe (Joint Broker)

Tel: +44 20 7710 7600

Jonathan Senior / Ben Maddison

Walbrook PR (Financial PR & IR)

Tel: +44 20 7933 8780 or avo@walbrookpr.com

Paul McManus

Mob: +44 7980 541 893

Anna Dunphy

Mob: +44 7876 741 001

 

 

 

About Advanced Oncotherapy plc www.avoplc.com

 

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. 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 greater precision and electronic control which is not achievable with older technologies.

 

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.

 

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.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
UPDOKADPQBKDPNK
Date   Source Headline
8th Jul 201511:41 amRNSHolding(s) in Company
2nd Jul 20157:00 amRNSCommencement of initial SCDTL testing
1st Jul 20152:08 pmRNSDirector Dealing & Total Voting Rights
29th Jun 201511:08 amRNSResult of AGM
8th Jun 20157:00 amRNSDirector/PDMR Shareholding
4th Jun 20157:00 amRNSDirector/PDMR Shareholding
3rd Jun 20157:00 amRNSFinal Results
26th May 20152:38 pmRNSHolding(s) in Company
20th May 201512:20 pmRNSNotice of Results
19th May 20157:00 amRNSSuccessful RF power testing of the first CCL unit
15th May 20157:00 amRNSExercise of Warrants
11th May 201511:27 amRNSHolding(s) in Company
1st May 20157:00 amRNSPlacing
27th Apr 20157:00 amRNSExercise of Warrants
20th Apr 20157:00 amRNSStmnt re Share Price Movement
9th Apr 20155:42 pmRNSHolding(s) in Company
8th Apr 20157:00 amRNSExercise of Warrants
2nd Apr 201512:48 pmRNSUpdate on ScandiNova collaboration
25th Mar 20157:00 amRNSFirst commercial sale of LIGHT machine in China
12th Mar 20157:00 amRNSLoan agreement
2nd Mar 20157:00 amRNSSale of Southampton property
19th Feb 20157:00 amRNSExercise of warrants and conversion of debt
5th Feb 20157:00 amRNSDirector/PDMR Shareholding
4th Feb 20158:52 amRNSCorrection - Director/PDMR Shareholding
4th Feb 20157:00 amRNSDirector/PDMR Shareholding
28th Jan 20157:00 amRNSLondon Harley Street Proton Therapy Centre
26th Jan 20157:00 amRNSManufacturing of CCL module complete
20th Jan 20157:00 amRNSEstablishment of CERN Scientific Review Board
12th Jan 20157:00 amRNSSupply agreement with Pyramid
2nd Dec 20147:00 amRNSExclusivity agreement signed
25th Nov 20147:00 amRNSManufacturing Agreement for CCL
18th Nov 20147:00 amRNSInvestor Presentation
4th Nov 20142:54 pmRNSHolding(s) in Company
30th Oct 20147:00 amRNSInvestor Presentation
27th Oct 20147:00 amRNSJoint MOU with TECHNA Institute and TERA
20th Oct 20146:29 pmRNSCorrection: Director Dealing
20th Oct 201410:17 amRNSDirector Dealing
17th Oct 20147:00 amRNSConversion of Loans
9th Oct 20147:00 amRNSDirectorate Change
3rd Oct 20145:51 pmRNSHolding(s) in Company
3rd Oct 20147:00 amRNSDirector share purchase & Issue of Equity
1st Oct 20142:21 pmRNSAward of Options and Director Dealing
29th Sep 20147:00 amRNSHalf Yearly Report
25th Sep 20144:00 pmRNSExercise of Warrants
18th Sep 20143:17 pmRNSHolding(s) in Company
10th Sep 20147:00 amRNSIssue of Equity
4th Sep 201410:26 amRNSHolding(s) in Company
27th Aug 20147:00 amRNSAppointment of Nicolas Serandour
14th Aug 20147:00 amRNSStrategic Partnership with Toshiba
8th Aug 20147:00 amRNSIssue of Equity and Warrants and director deal

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