Advanced Oncotherapy PLC First milestone payment for China LIGHT system (5923Z)
21 Septiembre 2015 - 1:00AM
UK Regulatory
TIDMAVO
RNS Number : 5923Z
Advanced Oncotherapy PLC
21 September 2015
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
First milestone payment for China LIGHT system &
Completion of the first stage of installation of services to
LIGHT
Advanced Oncotherapy (AIM: AVO), the developer of
next-generation proton therapy systems for cancer treatment,
confirms that it has received its first milestone payment for a
LIGHT Proton Therapy System. The payment was made by Sinophi
Healthcare Limited ("Sinophi") in accordance with the purchase
agreement for the Company's LIGHT proton therapy system announced
for the oncology hospital project in Huai'an City, Jiangsu province
in East China on 25 March 2015.
In addition to this commercial milestone, the Company has
completed work at its Geneva testing facility on the installation
of essential services required to complete the testing phase,
including electrical supplies, installation of cooling systems and
safety systems. This also includes the installation and site
acceptance of the RF power units, the first accelerating
structures, as well as associated sensors, meters and control
systems.
Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy,
said:
"We are making good progress in the development of our LIGHT
system. We remain on track to complete the technical development of
the first LIGHT system so that it is ready for patient treatment in
2017 in Harley Street. In addition this first milestone payment
from Sinophi for a LIGHT system order from China is a good reminder
of the huge potential that China and Southeast Asia offers. We are
very encouraged by the commercial interest that Sinophi is
generating for us in the region."
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 / Elliot Hance 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBIGDCBUDBGUG
(END) Dow Jones Newswires
September 21, 2015 02:00 ET (06:00 GMT)
Carecapital (LSE:CARE)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Carecapital (LSE:CARE)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024
