The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAVO.L Regulatory News (AVO)

  • There is currently no data for AVO

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Second commercial sale of proton therapy system

21 Oct 2015 07:00

RNS Number : 8961C
Advanced Oncotherapy PLC
21 October 2015
 

21 October 2015

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

 

Second commercial sale of proton therapy system in China

Further Framework Agreements for four new proton therapy centres

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that, further to the announcement of 20 August 2015, it has now received a purchase order for its LIGHT machine from the China-Japan Union Hospital of Jilin University, through its partnership with Sinophi Healthcare Limited ("Sinophi").

 

The China-Japan Union Hospital is one of the largest hospitals in NE China with over 3,300 beds and is located in Changchun, Jilin Province. The purchase order, worth between $75-80m (subject to final configuration of the treatment rooms), relates to a single LIGHT system to be installed at the heart of a five treatment room facility.

 

This is the second commercial sale of the Company's next-generation proton therapy system in China and follows the announcement in March 2015 that the Company's LIGHT system will be installed as part of Sinophi's oncology hospital project in Huai'an City, in Jiangsu province, East China.

 

Sinophi is a UK company investing in and managing public general and speciality hospitals in China, providing them with the best and most affordable technology to improve patient outcomes. Sinophi has an exclusive 15-year agreement with Advanced Oncotherapy to distribute the Company's LIGHT system in China and a number of other countries in Southeast Asia.

 

In addition, and to coincide with the UK State Visit of China's President His Excellency Mr Xi Jinping, Sinophi have announced that further Framework Agreements will be confirmed at a signing ceremony to be held later today. In total the signing ceremony will ratify the building and establishment of various hospital facilities in China at a total cost of approximately £800m. These include the building of the two hospitals in Huai'an City and Changchun, Jilin Province where Advanced Oncotherapy has now received purchase orders for its LIGHT system, as well as four additional Sinophi Proton Centres that are expected to use Advanced Oncotherapy's technology, and the development of a maternity hospital.

 

The Framework Agreements with the four additional Sinophi Proton Centres agreements do not as yet constitute purchase orders for the LIGHT machine. As and when these are received the Company will update shareholders.

 

Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: "I am delighted to have signed our second commercial purchase order for our LIGHT system. This, and the further Framework Agreements being signed today, are a testament to the successful partnership between Sinophi's strong healthcare network in China and our ground-breaking proton therapy technology. The advantages of our technology over existing products is generating strong interest across China. With over 20% of the world's newly diagnosed cancer cases coming from China this market represents a huge opportunity for us."

 

Commenting on the signings, Dr Hanif Kanji, CEO of Sinophi Healthcare Limited said: "The UK and China have many shared challenges dealing with cancer. Our Sinophi Proton Centres in five of China's leading cities will expand to more Chinese cities to support the objectives of the Chinese Government's healthcare reform programme by making proton treatment widely available at reduced cost, saving lives and improving the quality of life of cancer patients."

 

 

Advanced Oncotherapy Plc

www.avoplc.com

Sanjeev Pandya, CEO

Tel: +44 (0)20 3617 8728

Nicolas Serandour, CFO

Westhouse Securities (Nomad & Joint Broker)

Antonio Bossi / David Coaten

Tel: +44 (0)20 7601 6100

Beaufort Securities (Joint Broker)

Jon Levinson / Elliot Hance

Tel: +44 (0)20 7382 8300

Walbrook PR (Financial PR & IR)

Tel: +44 (0)20 7933 8780 or avo@walbrookpr.com

Paul McManus / Anna Dunphy

Mob: +44 (0)7980 541 893 / Mob: +44 (0)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 fraction of the size and significantly lower in 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.

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCMMMZGMGKGKZZ
Date   Source Headline
3rd Mar 20225:05 pmRNSDirector/PDMR Notification
2nd Mar 20224:10 pmRNSDirector/PDMR Notification
1st Mar 20227:00 amRNSOperational update
28th Feb 20225:00 pmRNSTotal Voting Rights
17th Feb 20224:25 pmRNSExercise of Warrants and Issue of Equity
31st Jan 20225:00 pmRNSTotal Voting Rights
13th Jan 20223:17 pmRNSExercise of Warrants and Issue of Equity
31st Dec 20211:00 pmRNSTotal Voting Rights
13th Dec 20217:00 amRNSTechnical update on delivery of first LIGHT system
10th Dec 20217:00 amRNSHolding(s) in Company
3rd Dec 20215:09 pmRNSHolding(s) in Company
2nd Dec 20211:29 pmRNSIssue of warrants and equity and Loan Extension
30th Nov 20215:00 pmRNSTotal Voting Rights
15th Nov 20218:30 amEQSHardman & Co Research: Advanced Oncotherapy (AVO): On the home straight
10th Nov 202111:23 amRNSHolding(s) in Company
8th Nov 20212:28 pmRNSExercise of Warrants and Issue of Equity
4th Nov 20211:44 pmRNSHolding(s) in Company
27th Oct 20217:00 amRNSPresentation highlights LIGHT system superiority
30th Sep 20215:00 pmRNSTotal Voting Rights
30th Sep 20217:00 amRNSInterim Results
23rd Sep 202111:27 amRNSExercise of Warrants and Issue of Equity
20th Sep 20217:00 amRNSUpdate re admission of Subscription Shares
3rd Sep 20217:00 amRNSUpdate on admission of Subscription Shares
31st Aug 20216:14 pmRNSResult of GM, TVR and clarification re warrants
16th Aug 20214:48 pmRNSExercise of Warrants and Issue of Equity
12th Aug 20211:50 pmEQSHardman & Co Research: Advanced Oncotherapy (AVO) Funded to completion
11th Aug 20217:00 amRNSProposed subscription and issuance of shares
2nd Aug 20213:37 pmRNSResult of AGM
30th Jul 20214:58 pmRNSResult of AGM
13th Jul 20212:19 pmRNSHoldings in company
30th Jun 20217:00 amRNSFinal Results for the year ended 31 December 2020
3rd Jun 20217:00 amRNSSaba Partners sign LOI for LIGHT system
28th May 20215:00 pmRNSTotal Voting Rights
26th May 202110:37 amRNSExercise of Warrants and Issue of Equity
28th Apr 20215:38 pmRNSExercise of Warrants and Issue of Equity
31st Mar 20215:00 pmRNSTotal Voting Rights
12th Mar 20217:00 amRNSStudy shows the potential superiority of LIGHT
11th Mar 20217:00 amRNSExercise of Warrants and Issue of Equity
26th Feb 20215:00 pmRNSTotal Voting Rights
17th Feb 202110:39 amRNSExercise of Warrants and Issue of Equity
22nd Jan 20217:00 amRNSEquity fundraise of c.£5.9m
13th Jan 20217:00 amRNSExercise of Warrants and Issue of Equity
11th Jan 20217:00 amRNSTechnical update
6th Jan 202111:05 amRNSSecond Price Monitoring Extn
6th Jan 202111:00 amRNSPrice Monitoring Extension
6th Jan 20217:00 amRNSFinancing partnership agreement with DiaMedCare AG
15th Dec 20207:15 amEQSHardman & Co Research: Advanced Oncotherapy (AVO): Leveraging the modularity of LIGHT
23rd Nov 20202:42 pmRNSHolding(s) in Company
17th Nov 20202:02 pmRNSHolding(s) in Company
10th Nov 20207:00 amRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.