20 Sep 2012 15:21
Advanced Oncotherapy Plc
("Advanced Oncotherapy" or the "Company")
Issue of Equity
Further to the announcement dated 1 August 2012, Advanced Oncotherapy (AIM: AVO) has conditionally placed an additional 8,000,000 new ordinary shares in the Company ("the Placing Shares") at a price of 1.0 pence per Ordinary Share, raising gross proceeds of £80,000.
Application will be made for the Admission to AIM of the new ordinary shares issued and this is expected to become effective on 26 September 2012.
Following admission, the Company's enlarged issued share capital will comprise 224,410,368 Ordinary Shares with one voting right per share. The total number of voting rights in the Company is therefore 224,410,368.
The Placing Shares were placed with existing and new investors by Peterhouse Corporate Finance.
For more information please contact:
Michael Sinclair, Chief Executive | Sandy Jamieson | Jon Levinson Lucy Williams | Simon Hudson Kelsey Traynor |
| Advanced Oncotherapy Plc | Libertas Capital Corporate Finance Ltd | PeterhouseCorporate Finance Ltd | Tavistock Communications |
| 0203 617 8739 | (NOMAD & Joint Broker) | (Joint Broker) | (Financial PR & IR) |
| 020 7569 9650 | 020 7469 0935 | 020 7920 3150 |
About Advanced Oncotherapy
Advanced Oncotherapy is building a portfolio of innovative cancer treatment services to capture opportunities in the cancer diagnosis and treatment market, building on its 28.75% stake in Advanced Proton Solutions (Holdings) Ltd and its 75% owned Oncotherapy Resources business focused on early stage breast cancer treatment from the Xoft System.
The Xoft System uses an electronic X-ray source instead of a radioactive isotope to deliver radiation internally. The low energy and rapid dose fall-off of the electronic source allow for treatment in rooms with reduced shielding requirements compared to conventional radiation therapy. It is lightweight and mobile and can be moved easily between treatment locations. This means that it can overcome the logistical challenges faced by many patients who may have to travel long distances to access conventional radiotherapy.
Advanced Proton Solutions is pioneering the use of Proton Beam Therapy in the UK and which has secured planning approval for its first London based centre off Moorgate in the City of London, within easy access of a number of London's major hospitals.
In addition, Advanced Oncotherapy has a mutually exclusive agreement with Varigen Technologies to use Varigen's expertise in the areas of genetic testing and its application to both the diagnosis and development of personalized medical treatments for patients with malignant diseases.
Advanced Oncotherapy also specialises via its wholly owned subsidiary Healthcare Property Company, as an innovative developer, in primary care real estate, focusing on multi-occupancy premises that accommodate a variety of different, but often synergistic healthcare providers. This is particularly relevant at a time when Government is intent on expanding primary care, bringing more services together under one roof and closer to patients in their own communities. Working in partnership with local authorities, projects can involve significant urban regeneration, with mixed-use and mixed-economy developments incorporating housing, healthcare, childcare, retail and other appropriate facilities for the community.
The Company recently announced that it would seek to demerge Healthcare Property Company in order to focus on its portfolio of cancer treatment services businesses.