29 Mar 2016 07:00
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Update on development milestones
Advanced Oncotherapy plc (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, provides an update to shareholders on the continuing progress being made in the development of the Company's novel proton accelerator, LIGHT, in the context of the milestones which were first set in November 2014 and re-iterated at the time of the fund raising in May 2015.
Delivery of Proton Source
The Proton Source, which is being constructed by Pantechnik in Bayeux (France), has now been fully assembled and is ready for initial testing and tuning. The Company has taken charge of this unit and expects it to be shipped to its facility in Geneva once these tests have been carried out on site in Bayeux.
Delivery of Radio Frequency Quadruple ("RFQ")
The four modules that make up the RFQ, a technology licensed from CERN and which first accelerates the protons to 5MeV, have now been assembled at its facility in Geneva and are ready for tuning, which will start at the end of March.
SCDTL ready for high power testing
Following first tests on the Side Coupled Drift Tube Linac ("SCDTL") module, which commenced in July 2015, this unit is now ready for high power testing. The four SCDTL modules used in the LIGHT system accelerate the protons from the 5MeV produced by the RFQ to 37.5MeV. The Coupled Cavity Linac ("CCL") then further accelerates the protons to the speeds needed to effectively treat radiosensitive tumours.
The development of the LIGHT system remains in line with the timetable provided to shareholders in November 2014 and the Company will continue to update shareholders on the progress made during the further integration and testing of the modules which is expected to continue up to the end of 2016.
Michael Sinclair, CEO of Advanced Oncotherapy, commented: "The team at Advanced Oncotherapy have been working hard in progressing the construction of our first LIGHT system and I am delighted that we remain on track and delivering to the timeline that we originally presented to shareholders in November 2014. Our LIGHT system combines some remarkable technology and it is very pleasing to see it continue to take shape - once completed we will have developed a game-changing type of proton therapy that will allow this specialist treatment to be available for cancer patients in a much more effective and affordable way."
Advanced Oncotherapy Plc | www.avoplc.com | ||
Michael Sinclair, Chief Executive Office | Tel: +44 20 3617 8728 | ||
Nicolas Serandour, Chief Operating and Financial Officer |
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Stockdale Securities (Nomad & Joint Broker) |
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Antonio Bossi / David Coaten | Tel: +44 20 7601 6100 | ||
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Beaufort Securities (Joint Broker) |
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Jon Belliss / Elliot Hance | Tel: +44 20 7382 8300 | ||
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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.