Proactiveinvestors United Kingdom Advanced Oncotherapy PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Advanced Oncotherapy PLC RSS feed en Mon, 17 Jun 2019 00:25:56 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Advanced Oncotherapy announces positive results from comparative study ]]> https://www.proactiveinvestors.co.uk/companies/news/221375/advanced-oncotherapy-announces-positive-results-from-comparative-study-221375.html Advanced Oncotherapy PLC (LON:AVO) was lifted by positive results from its comparative study on the LIGHT system, the company's proprietary proton accelerator.

The cancer treatment company said the results further demonstrate the competitive advantages of the system.

READ Advanced Oncotherapy rises as it obtains international quality standard for LIGHT system

The study, which was performed by Advanced Oncotherapy's research & development team in Geneva, compared LIGHT against conventional cyclotrons (particle accelerators) that use energy degraders, focusing on the efficiency in terms of delivering protons to the patient; higher efficiency requires less protective shielding from harmful radiation.

The analysis showed that LIGHT had a transmission of more than 95% for all the energies required to treat cancer patients. In contrast, the transmission of a conventional cyclotron with energy degraders is less than 20% for an energy of 170MeV (170mln electron volts), and less than 50% for an energy of 210MeV.

“The results of this study provide further evidence that LIGHT has been designed to make cancer treatment more affordable and accessible by reducing concerns over safety and lowering the costs associated with the extensive shielding requirements needed with traditional technologies,” Advanced Onco said.

"Proton therapy systems use accelerators which increase the speed of the protons from zero to 60%, the speed of light,” explained Professor Stephen Myers, the executive chairman of Advanced Onco's research & development unit.

“The first type of accelerator to do this was the cyclotron which accelerates protons to single high speed in an outward spiral where they come out of the machine. The required proton speed depends on the patient case - how deep their cancer is in their body. Usually, the patient needs lower speed than the cyclotron produces, so the protons must be slowed down by mechanically moving thick pieces of carbon into the proton beam, called the energy degrader; however, these degraders waste many of the protons in the slowing down process, demanding thick, expensive radiation shielding and reducing the number of protons available for the patient's treatment,” he added.

"This study shows how fundamentally different the LIGHT system is. Instead of accelerating protons in a spiral, LIGHT speeds up the protons in a straight line. This design results in a much higher transmission, and this opens up a myriad of benefits for patients and customers," Professor Myers said.

Nicolas Serandour, the chief executive officer of Advanced Oncotherapy, said the results of the test highlighted the competitive advantages of the LIGHT system.

“Due to the high efficiency of LIGHT at all energies, patient treatment times are not expected to depend on how deep their cancer is in their body. Having an efficient source of protons available for treatment is becoming more critical as patient daily treatment doses are following a rising trend, placing additional demand on the machine to avoid longer treatment times,” Serandour said.

Shares in Advanced Onco were up 1.1% at 45p in early deals.

Why we are passionate about what we do at AVO: Offering all cancer patients the chance to be treated with proton therapy #passionate #protontherapy #whatwedo https://t.co/iqSBGhccoB

— Advanced Oncotherapy (@AdvOnco) May 20, 2019 ]]>
Mon, 03 Jun 2019 09:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221375/advanced-oncotherapy-announces-positive-results-from-comparative-study-221375.html
<![CDATA[RNS press release - Technological update ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190603070007_14095155/ Mon, 03 Jun 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190603070007_14095155/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190531173004_14094914/ Fri, 31 May 2019 17:30:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190531173004_14094914/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190517172939_14079128/ Fri, 17 May 2019 17:29:39 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190517172939_14079128/ <![CDATA[News - Advanced Oncotherapy secures more than £12mln of additional funding ]]> https://www.proactiveinvestors.co.uk/companies/news/220035/advanced-oncotherapy-secures-more-than-12mln-of-additional-funding-220035.html Advanced Oncotherapy PLC (LON:AVO) has secured more than £12mln additional funding to support ongoing work on a next-generation proton beam system.

Credit Suisse has provided £10mln of debt for two years with an annual coupon of 2% above LIBOR (the lending rate between London banks). And additional £2.345mln has come via a share subscription with mainly Swiss institutions taking stock in the group at 40p. That’s a modest discount to Thursday’s closing price.

"The strengthening of our balance sheet during 2018 and early 2019 has placed us in a stronger position to secure additional non-dilutive funding at attractive financial terms,” said chief executive Nicolas Serandour.

Advanced Oncotherapy is developing a state-of-the art, affordable proton beam therapy system called LIGHT.

Technology developed by CERN

The technology is based on work by ADAM, which the company bought in 2013 from CERN, the world’s largest particle physics lab that built the Hadron collider.

The major plus point of proton therapy is that it can pinpoint tumours more precisely, which means less damage to surrounding healthy tissues.

Proton therapy facilities have traditionally been pricey and large, requiring a space the size of a football pitch to run.

But AVO thinks it has solved that problem, and LIGHT is being built to fit in the basement of a townhouse in Harley Street, central London.

Its modular design, lighter weight and better proton efficiency also helps to keep costs down, which should open proton therapy up to many more patients.

"We are moving forward well with our plans to install the first working LIGHT system at the STFC facility at Daresbury, with the integration of additional accelerating modules to allow high energy testing and ultimately regulatory approval," CEO Serandour said.

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Fri, 10 May 2019 08:07:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220035/advanced-oncotherapy-secures-more-than-12mln-of-additional-funding-220035.html
<![CDATA[RNS press release - Debt facility secured ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190510070004_14069020/ Fri, 10 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190510070004_14069020/ <![CDATA[News - Advanced Onco gearing up for commercialisation of its LIGHT proton beam therapy system ]]> https://www.proactiveinvestors.co.uk/companies/news/219488/advanced-onco-gearing-up-for-commercialisation-of-its-light-proton-beam-therapy-system-219488.html Advanced Oncotherapy PLC (LON:AVO) is developing a state-of-the art, affordable proton beam therapy system called LIGHT.

The technology is based on work by ADAM, which AVO bought in 2013 from CERN – the world’s largest particle physics lab that built the Hadron collider.

The major plus point of proton therapy is that it can pinpoint tumours more precisely, which means less damage to surrounding healthy tissues.

Proton therapy facilities have traditionally been pricey and large, requiring a space the size of a football pitch to run.

But AVO thinks it has solved that problem, and LIGHT is being built to fit in the basement of a townhouse in Harley Street, central London.

Its modular design, lighter weight and better proton efficiency also helps to keep costs down, which should open proton therapy up to many more patients.

How it’s doing

Building work at the Harley Street facility is expected to finish later this year, with the first patient on track to be treated at the facility in the second half of 2020.

AVO has managed to strike a deal with the freeholder of the building, the Howard de Walden Estate, which is covering the cost of all the construction work.

As the company moves nearer to treating the first patient, it has started to gear up its commercial infrastructure with the appointment of an experienced chief commercial officer.

Moataz Karmalawy is a “veteran in the commercialisation of PBT technology”, according to research house Hardman & Co, given his previous jobs at Varian and Philips Medical.

Financially, the company appears well set after raising more than £12mln in a debt (£10mln) and equity, with much of cash coming out of Switzerland. The debt facility is over two years and carries a coupon of two points over LIBOR.

What bosses are saying

“We are delighted with the progress we have made,” said chief executive Nicolas Serandour, speaking back at the interim results.

“We have strengthened the board with some key changes and we have total confidence in our ability as a team to deliver on our milestones.

“The sub-structural work at the Harley Street facility remains on schedule and we are pleased with the progress at the site.

“We have exciting plans for the future commercialisation of the LIGHT system once completely developed, and our discussions with potential partners around the world are ongoing.”

 

What analysts are saying

“Demand for PBT is increasing worldwide, and the need for a small, flexible, affordable and close-to-patient system is desirable,” said Hardman & Co in a recent note to clients.

“With LIGHT, AVO is aiming to provide customers with a fully integrated PBT solution.

“AVO’s market capitalisation of £78m equates only to the amount of money invested into LIGHT to date, which does not reflect either the enormous technical challenges that have been overcome, or the large market potential.”

Speaking about the appointment of new CCO Moataz Karmalawy, Hardman added: “The appointment of such an experienced executive from a major competitor is a major coup for the company and should provide the market with greater confidence in LIGHTS’s commercial prospects.”

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Wed, 01 May 2019 06:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219488/advanced-onco-gearing-up-for-commercialisation-of-its-light-proton-beam-therapy-system-219488.html
<![CDATA[News - Advanced Oncotherapy appoints a chief commercial officer and president for its US division ]]> https://www.proactiveinvestors.co.uk/companies/news/218660/advanced-oncotherapy-appoints-a-chief-commercial-officer-and-president-for-its-us-division-218660.html Advanced Oncotherapy PLC (LON:AVO) shares jumped higher on Tuesday as the group announced the appointment of Moataz Karmalawy as its chief commercial officer and president of its US division with immediate effect.

The AIM-listed developer of a next-generation proton therapy system for cancer treatment noted that Karmalawy has served as general manager of the Worldwide Particle Therapy Business for Varian Medical Systems Inc., the world's largest manufacturer of radiotherapy equipment for 12 years

READ: Advanced Oncotherapy rises as it obtains international quality standard for LIGHT system

The group pointed out that, whilst at Varian Medical, Karmalawy integrated the acquired proton therapy business into the division, before growing the order book to in excess of US$1bn and achieving a 50% market share of the global particle therapy products market.

Before joining Varian Medical, Karmalawy worked at Philips Medical Systems Inc. for 10 years where he served in several senior executive roles, it added.

Commenting on his appointment, Karmalawy, said: "Advanced Oncotherapy stands out as an incredibly exciting opportunity within the proton therapy market. The global capacity to treat patients with proton therapy has been disappointingly low due to the high cost of traditional proton therapy technologies. 

"As a result, only 1% of patients eligible for radiotherapy are being treated with proton therapy. Advanced Oncotherapy's technology will make this treatment more affordable and accessible to cancer patients worldwide and the LIGHT system has a number of technical advantages to existing technology that will deliver better patient outcomes and offer an accuracy and adjustability beyond legacy technologies."

Advanced Oncotherapy pointed out that his appointment is a non-board appointment.

In afternoon trading, shares in Advanced Oncotherapy were 10% higher at 43.50p.

 -- Adds share price -- 

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Tue, 16 Apr 2019 08:09:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218660/advanced-oncotherapy-appoints-a-chief-commercial-officer-and-president-for-its-us-division-218660.html
<![CDATA[RNS press release - Senior Management Appointment ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190416070003_14042017/ Tue, 16 Apr 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190416070003_14042017/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190307090042_13993830/ Thu, 07 Mar 2019 09:00:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190307090042_13993830/ <![CDATA[RNS press release - Grant of options ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190222070005_13978052/ Fri, 22 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190222070005_13978052/ <![CDATA[RNS press release - Appointment of Nominated Adviser and Joint Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190201070003_13954558/ Fri, 01 Feb 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190201070003_13954558/ <![CDATA[RNS press release - Schedule 2(g) Disclosure ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190130114528_13952103/ Wed, 30 Jan 2019 11:45:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190130114528_13952103/ <![CDATA[RNS press release - Total Voting Rights and Significant Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190129093804_13950203/ Tue, 29 Jan 2019 09:38:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190129093804_13950203/ <![CDATA[RNS press release - Schedule 2(g) Disclosure ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190124121422_13945885/ Thu, 24 Jan 2019 12:14:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190124121422_13945885/ <![CDATA[RNS press release - Result of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190122152910_13943080/ Tue, 22 Jan 2019 15:29:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190122152910_13943080/ <![CDATA[News - Advanced Oncotherapy rises as it obtains international quality standard for LIGHT system ]]> https://www.proactiveinvestors.co.uk/companies/news/212944/advanced-oncotherapy-rises-as-it-obtains-international-quality-standard-for-light-system-212944.html Advanced Oncotherapy PLC (LON:AVO) shares rose in mid-morning trading Monday after it received a quality standard certification for its LIGHT proton therapy system following an audit by compliance firm Lloyd’s Register.

ISO 13485:2016 is an internationally recognised quality standard that ensures the consistent design, development, production, installation and sale of medical devices that are safe for their intended purposes.

READ: Advanced Oncotherapy raises £10mln at a premium

The company said the certification was an important milestone that would allow it to continue developing its LIGHT system in compliance with the highest safety and product performance standards.

It would also allow it to make the product available for patient treatment once the medical device file had been approved.

The LIGHT system is focused on the use of protons, small sub-atomic particles, to treat tumour growths in patients using an accelerator beam similar to that of linear x-rays currently used in cancer treatment.

AVO is currently focused on increasing the power of the LIGHT proton beam to 230 mega-electron volts, the level required to treat deep-seated tumours in patients.

Dr Michel Baelen, the company’s director of regulatory affairs, said the compliance with the quality standard illustrated the importance the firm placed on the quality of its product, as well as “dedication to ensuring that the infrastructure to develop and manufacture our product is safe, effective and reliable”.

AVO shares were up 1.3% at 39p.

--Adds share price--

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Mon, 21 Jan 2019 08:09:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212944/advanced-oncotherapy-rises-as-it-obtains-international-quality-standard-for-light-system-212944.html
<![CDATA[RNS press release - ISO 13485:2016 certification for medical devices ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190121070006_13940423/ Mon, 21 Jan 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20190121070006_13940423/ <![CDATA[RNS press release - Launch of 2018 SAYE Scheme ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181221101519_13913120/ Fri, 21 Dec 2018 10:15:19 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181221101519_13913120/ <![CDATA[News - Advanced Oncotherapy raises £10mln at a premium ]]> https://www.proactiveinvestors.co.uk/companies/news/211633/advanced-oncotherapy-raises-10mln-at-a-premium-211633.html Advanced Oncotherapy PLC (LON:AVO) is raising £10.0mln as it presses ahead with the building of its next-generation LIGHT proton therapy system on Harley Street.

Investors taking part in the fundraising, including Paris-based DNCA Investments, are paying 40p a share – an 11% premium to Thursday’s closing price.

READ: AVO improves performance of LIGHT system

As well as funding the continued development of the first LIGHT system, the money will also pay for software development and costs relating to the new testing and assembly site being set up at a science park in Cheshire.

In its last stock exchange announcement in October, AVO announced it had doubled the power of the proton beam in the LIGHT system.

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Fri, 21 Dec 2018 07:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211633/advanced-oncotherapy-raises-10mln-at-a-premium-211633.html
<![CDATA[RNS press release - Proposed Direct Subscription to raise £10.0m ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181221070002_13912358/ Fri, 21 Dec 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181221070002_13912358/ <![CDATA[News - Advanced Oncotherapy’s LIGHT system has “fast head start” on changing cancer treatment market, says broker goetzpartners ]]> https://www.proactiveinvestors.co.uk/companies/news/206801/advanced-oncotherapys-light-system-has-fast-head-start-on-changing-cancer-treatment-market-says-broker-goetzpartners-206801.html Advanced Oncotherapy PLC (LON:AVO), which is developing a breakthrough new proton therapy system for cancer sufferers, could have a “fast head-start” in the race to replace other forms of treatment in the market, according to analysts at broker goetzpartners.

In a note to clients, the broker said that the company’s proton beam treatment system, known as Linac Image Guided Hadron Technology (LIGHT), could help it take “the entire growth” from its cyclotron competitors, a technology that will become obsolete by the end of 2023.

Cyclotron technology involves lengthy and complicated building preparation, with heavy cyclotrons and large concrete bunkers make the installation a major building project, which is, regardless of pricing, often a big hurdle.

However, the broker says the LIGHT system, which is “faster and less complicated combined with a cheaper production process”, could give the company a step up against both cyclotrons and more conventional LINAC (linear accelerator) systems.

The proton therapy industry, in which AVO operates, offers “significant structural growth”, goetz said, with its own numbers forecasting a US$8bn market by the end of 2030.

LIGHT tech backed by world-leading physicists

AVO’s beam technology is currently being worked on by the team at ADAM, a spin-off from renowned Swiss physics lab CERN, which includes some of the world leading physicists.

The firm recently announced that it had successfully integrated the four sections of its LIGHT proton accelerator, the proton source, the Radiofrequency Quadrupole (RFQ), four Side Coupled Drift Tube Linacs (SCDTLs), and two high-energy accelerating structures, the Coupled Cavity Linacs (CCLs), at the lab and had achieved an energy of 52 mega-electron volts (MeV), double the amount needed to treat superficial cancer tumours.

READ: Advanced Oncotherapy rockets as it improves performance of LIGHT cancer treatment system

However, the company isn’t stopping and is aiming to add 13 more CCL modules which would increase the energy level to 230MeV, the level required to treat deep-seated tumours.

goetzpartners expects the company to achieve this energy level in 2019, adding that they saw “limited” risks to the set up of the company’s LIGHT system for its first customer at a clinic in Harley Street, the renowned private medical district in London.

First player in ‘holistic’ oncology process

AVO’s partnership with Swedish radiotherapy software firm, RaySearch, also gives it a potential first-mover advantage in developing “a fully integrated and holistic oncology treatment process”, says goetz.

The broker says that the combination of the LIGHT system and RaySearch’s treatment planning and oncology information systems would go “far beyond an optimal use of proton therapy systems”.

goetzpartners has Advanced Oncotherapy pegged with an ‘Outperform’ rating and a price target of 155p, a premium of over 255% on its current share price of 43.5p.

With a current market cap of £55.9mln, the broker is targeting a potential value of around £143mln.

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Wed, 10 Oct 2018 09:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206801/advanced-oncotherapys-light-system-has-fast-head-start-on-changing-cancer-treatment-market-says-broker-goetzpartners-206801.html
<![CDATA[News - Advanced Oncotherapy rockets as it improves performance of LIGHT cancer treatment system ]]> https://www.proactiveinvestors.co.uk/companies/news/206754/advanced-oncotherapy-rockets-as-it-improves-performance-of-light-cancer-treatment-system-206754.html Advanced Oncotherapy PLC (LON:AVO) shares shot up in late-morning trading Wednesday after the firm doubled the power of its LIGHT proton beam cancer treatment system.

The firm said that it had successfully integrated the four sections of its LIGHT proton accelerator, the proton source, the Radiofrequency Quadrupole (RFQ), four Side Coupled Drift Tube Linacs (SCDTLs), and two high-energy accelerating structures, the Coupled Cavity Linacs (CCLs), at its testing facility at CERN in Geneva.

READ: Advanced Oncotherapy now in a solid position, says research house

As a result, AVO said the proton beam had now been accelerated through these units to the anticipated energy of 52 mega-electron volts (MeV), double the output energy needed to treat superficial tumours which it reached at the end of last month.

The firm said it was now focused on adding 13 more CCL modules which would increase the energy level to 230MeV, the level required to treat deep-seated tumours.

Meanwhile, the company also said that RaySearch AB, a leading software firm for radio and particle therapies, would be providing their ‘RayCare’ oncology information system (OIS) to both its Harley Street treatment site and its assembly site at Daresbury Laboratory for integration.

AVO had also partnered with Tel-Aviv based firm P-Cure to provide an advanced robotic treatment chair and a vertically tracking diagnostic CT scanner, which would be received at AVO’s assembly centre in 2019.

READ: Advanced Oncotherapy passes key technological milestone

The company also said the construction of its Harley Street site remained on track and was expected to conclude by the middle of next year, while work was progressing at its assembly site to build and prepare the test facility ready for the installation of the full LIGHT system from later this year.

Nicolas Sérandour, chief executive of Advanced Oncotherapy, said the firm had “already achieved the most challenging aspect of constructing a new linear accelerator”, with the addition of the additional CCLs “a relatively simple process”.

He added that discussions with potential customers were “multiplying” and that expected to accelerate as the next phase of development was reached.

Shares were up 30.3% at 43p.

--Adds share price--

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Wed, 10 Oct 2018 08:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206754/advanced-oncotherapy-rockets-as-it-improves-performance-of-light-cancer-treatment-system-206754.html
<![CDATA[RNS press release - GPSL Research - Flash Note on AVO ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181010073052_13822983/ Wed, 10 Oct 2018 07:30:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181010073052_13822983/ <![CDATA[RNS press release - Technological update ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181010070003_13822495/ Wed, 10 Oct 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181010070003_13822495/ <![CDATA[RNS press release - GPSL Research - Flash Note on AVO ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181004110713_13816703/ Thu, 04 Oct 2018 11:07:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20181004110713_13816703/ <![CDATA[News - Advanced Oncotherapy now in a solid position, says research house ]]> https://www.proactiveinvestors.co.uk/companies/news/206187/advanced-oncotherapy-now-in-a-solid-position-says-research-house-206187.html Advanced Oncotherapy PLC’s (LON:AVO) interim results revealed the business had turned a corner, according to research issued by Goetz Partners Securities.

It is now in a solid position financially following the completion of a £40mln financing round that ended the share overhang from its debt-equity facilities.

Cash and equivalents at June 30 were £3.32mln, though this figure excluded £6.41mln raised from investors and a £2.92mln tax credit, which occurred early in the second half.

“The company has managed a major turnaround of its dire financial situation from last year,” Goetz said.

New device LIGHT years ahead?

AVO is developing a proton beam system that blasts cancer called LIGHT. The initials stand for Linac Image Guided Hadron Technology. The company’s kit is cheaper and smaller than the current units, which are almost prohibitively expensive.

It has the ability to propel protons at the speeds generated by much larger machines.

The proton accelerator used by Advanced Oncotherapy was licensed from CERN, the European Organisation for Nuclear Research, which is currently hunting the ‘God particle’.

Last Thursday, investors were told the company’s LIGHT system had passed a major technological milestone with the unit generating proton beams energetic enough to treat superficial tumours.

Commercial traction 

Commercially AVO’s technology is gaining traction. It has inked a distribution agreement with Liquid Harmony for China and other parts of Asia, while discussions are ongoing for sites in the US, Europe, Asia and the Middle East.

Goetz believes the group’s LIGHT technology has a greater potential than next-generation PT cyclotrons cancer killers to replace a significant share of photon linacs currently on the market.

“We feel that cyclotron manufactures have seen their peak a couple of years ago with a limited chance of recovery,” the research house said.

“The replacement power from LIGHT is based on technical superiority, price and easy installment.”

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Tue, 02 Oct 2018 12:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/206187/advanced-oncotherapy-now-in-a-solid-position-says-research-house-206187.html
<![CDATA[News - Advanced Oncotherapy on track ]]> https://www.proactiveinvestors.co.uk/companies/news/205944/advanced-oncotherapy-on-track-205944.html Advanced Oncotherapy PLC (LON:AVO), which is developing a breakthrough new proton therapy system for cancer sufferers, said it remains on course to treat its first patients in the second half of 2020.

Work on its base on London’s Harley Street is on schedule, while financially the group is well placed having raised £40mln this year, which has helped it eliminate financial pledges over the company's assets.

On Thursday investors were told the company’s LIGHT system had passed a major technological milestone with the unit generating proton beams energetic enough to treat superficial tumours.

Commercially AVO’s technology is gaining traction. It has inked a distribution agreement with Liquid Harmony for China and other parts of Asia, while discussions are ongoing for sites in the US, Europe, Asia and the Middle East.

Exciting commercial plans

“We have exciting plans for the future commercialisation of the LIGHT system once completely developed, and our discussions with potential partners around the world are ongoing,” said chief executive Nicolas Serandour.

LIGHT stands for Linac Image Guided Hadron Technology. The AVO kit is cheaper and smaller than the current units, which are almost prohibitively expensive.

It has the ability to propel protons at the speeds generated by much larger machines.

The proton accelerator used by Advanced Oncotherapy was licensed from CERN, the European Organisation for Nuclear Research, which is currently hunting the ‘God particle’.

Returning to the interim results, the financials showed the company recorded a loss of almost £11.5mln for the six months to June 30, which was expected given the heavy investment made during the period to develop both the proton beam system and the new London facility.

Cash and equivalents at the period-end were £3.32mln, though this figure excluded £6.41mln raised from investors and a £2.92mln tax credit, which occurred early in the second half.

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Fri, 28 Sep 2018 07:56:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205944/advanced-oncotherapy-on-track-205944.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180928070008_13808010/ Fri, 28 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180928070008_13808010/ <![CDATA[News - Advanced Oncotherapy passes key technological milestone ]]> https://www.proactiveinvestors.co.uk/companies/news/205817/advanced-oncotherapy-passes-key-technological-milestone-205817.html Advanced Oncotherapy PLC (LON:AVO) said it has passed a key technological milestone on schedule.

Researchers at the CERN facility in Geneva working on the company’s LIGHT system have confirmed it is now generating proton beams with sufficient energy to treat superficial tumours.

“This announcement marks the shift from a complex ‑ albeit well-proven ‑ scientific and physics reality into a medical application with tangible and direct implications for patients,” said chief executive Nicolas Sérandour.

“This very important step supports the confidence we have in delivering our plan and being in a position to offer a system that delivers a better outcome for patients whilst generating more value for the operators."

The results from the work to date showed the LIGHT proton beam technology comfortably treated simulated superficial tumours and marginally deeper cancers.

Healthy tissue, such as the eye and the lens, was spared because of the targeted nature of the device. Dosing was well controlled.

Next target in sight 

The development team is now focused on the “relatively low-execution risk activity” of adding further accelerating modules.

This will ensure the AVO equipment can treat all indications suitable for proton therapy.

“A further technical update will be provided in the next few days,” the company said.

LIGHT stands for Linac Image Guided Hadron Technology. The AVO kit is cheaper and smaller than the current units, which are almost prohibitively expensive.

It has the ability to propel protons at the speeds generated by much larger machines.

The proton accelerator used by Advanced Oncotherapy was licensed from CERN, the European Organisation for Nuclear Research, which is currently hunting the ‘God particle’.

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Thu, 27 Sep 2018 07:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/205817/advanced-oncotherapy-passes-key-technological-milestone-205817.html
<![CDATA[RNS press release - Technological update ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180927070008_13806196/ Thu, 27 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180927070008_13806196/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180910113257_13784901/ Mon, 10 Sep 2018 11:32:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180910113257_13784901/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180907115239_13783256/ Fri, 07 Sep 2018 11:52:39 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180907115239_13783256/ <![CDATA[RNS press release - Completion of the £6.41m Placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180903113850_13776657/ Mon, 03 Sep 2018 11:38:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180903113850_13776657/ <![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180828070010_13768799/ Tue, 28 Aug 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180828070010_13768799/ <![CDATA[RNS press release - Exercise of Warrants and Issue of Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180809070004_13748962/ Thu, 09 Aug 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180809070004_13748962/ <![CDATA[News - Advanced Oncotherapy pulls in £6.4mln from Swiss investors ]]> https://www.proactiveinvestors.co.uk/companies/news/202069/advanced-oncotherapy-pulls-in-64mln-from-swiss-investors-202069.html Advanced Oncotherapy PLC (LON:AVO), the developer of proton beam systems used to treat cancer, has completed a share placing with Swiss investors that brought in £6.41mln.

Shares were issued at 49p each, which was a modest discount to last night’s closing price of 51p, with a number of prominent private banks and healthcare providers buying into the company.

READ: Advanced Oncotherapy on track with development of its LIGHT system

The cash injection from the fundraise, which was organised by Geneva-based Synergy Wealth Management, will be used for “general working capital purposes” as the company continues to develop its LIGHT proton beam system.

LIGHT stands for Linac Image Guided Hadron Technology. The AVO kit is cheaper and smaller than the current units, which are almost prohibitively expensive.

It has the ability to propel protons at the speeds generated by much larger machines.

The proton accelerator used by Advanced Oncotherapy was licensed from CERN, the European Organisation for Nuclear Research, which is currently hunting the ‘God particle’.

Shares well bid

The shares, which were 16.5p a year ago, are currently changing hands for 53.5p each, up 5%.

Today, the business is worth £87mln, reflecting the progress that has been made in recent months.

In June, it told investors that work to develop the first centre for the LIGHT system, on London’s Harley Street, was progressing to plan.

The first patients are expected to be treated in the second half of 2020. AVO is also in discussions for a second site in Birmingham and is assessing a number of potential sites in the US, Europe, Asia and the Middle East.

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Thu, 02 Aug 2018 07:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202069/advanced-oncotherapy-pulls-in-64mln-from-swiss-investors-202069.html
<![CDATA[RNS press release - £6.41m Placing ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180802070017_13740643/ Thu, 02 Aug 2018 07:00:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180802070017_13740643/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180725153442_13731388/ Wed, 25 Jul 2018 15:34:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180725153442_13731388/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704164042_13706059/ Wed, 04 Jul 2018 16:40:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704164042_13706059/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704163521_13706044/ Wed, 04 Jul 2018 16:35:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704163521_13706044/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704110522_13705437/ Wed, 04 Jul 2018 11:05:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704110522_13705437/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704110029_13705401/ Wed, 04 Jul 2018 11:00:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704110029_13705401/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704090550_13705148/ Wed, 04 Jul 2018 09:05:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704090550_13705148/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704090018_13705140/ Wed, 04 Jul 2018 09:00:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180704090018_13705140/ <![CDATA[RNS press release - Directorate Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180702070006_13700590/ Mon, 02 Jul 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180702070006_13700590/ <![CDATA[News - Advanced Oncotherapy on track with development of its LIGHT system ]]> https://www.proactiveinvestors.co.uk/companies/news/199646/advanced-oncotherapy-on-track-with-development-of-its-light-system-199646.html Last year was another year of significant technological development for Advanced Oncotherapy PLC (LON:AVO) that saw the installation of the company's first proton-based LIGHT radiotherapy system.

In its full-year results statement, the company said technological development is on-track to be capable of treating superficial tumours by the end of the third quarter of this year.

READ: Advanced Oncotherapy secures £37.4mln of new financing​

Work on the group’s site at 141/143 Harley Street in London continues to progress well and remains on track to become central London’s first proton therapy centre, with the first patient treatment expected by the second half of 2020.

In the UK discussions for a second site in Birmingham are in progress and the group remains in discussions regarding a number of sites in the USA and in Europe, Asia and the Middle East.

The group ended the year with cash and cash equivalents of £56,479, down from £1.45mln a year earlier but since then the company has replenished the coffers with £37.4mln of new funding.

“The technological development of our LIGHT system remains on-track and we continue to proceed with a significantly reduced overall technology risk profile. Similarly, work at Harley Street remains on schedule and with additional funding through our licence agreement with Yantai CIPU and the equity fundraise in which they and other investors participated we enter into the new financial year from a strong position,” the company said.

As might be expected of a pre-revenue company, Advanced Onco made a loss in 2017; the loss after tax from continuing operations widened to £13.66mln from £10.37mln in 2016.


 

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Wed, 27 Jun 2018 07:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199646/advanced-oncotherapy-on-track-with-development-of-its-light-system-199646.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180627070004_13694836/ Wed, 27 Jun 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180627070004_13694836/ <![CDATA[News - Advanced Oncotherapy receives final investment payment from Yantai Cipu ]]> https://www.proactiveinvestors.co.uk/companies/news/197991/advanced-oncotherapy-receives-final-investment-payment-from-yantai-cipu-197991.html Advanced Oncotherapy PLC (LON:AVO) said it has received the final investment payment from Yantai Cipu, its partner company in China.

The AIM-listed proton therapy developer said the £10mln payment completed Yantai’s £30mln investment in the company, in addition to a £6.5mln payment received in May.

READ: Advanced Oncotherapy refines tumour zapper technology

The group entered into an exclusive distribution agreement with Yantai Cipu in December 2017, in which Yantai agreed to pay the group £16.5mln.

The group added that regarding its Bracknor funding facility, all outstanding convertible loan notes owned by Bracknor were to be converted into new ordinary shares at a price of 46p, and that an application would be made to admit the new shares to trading on AIM on or around 5 June 2018.

Nicolas Serandour, chief executive of Advanced Oncotherapy, said: "Today's announcement is a further important step forward in strengthening our balance sheet position. With the completion of our financing arrangement with Yantai Cipu and the placing of the remaining shares due to Bracknor in the hand of a long-term shareholder, we are progressing steadily with our plans of setting our business onto a sustainable path for profitable growth.”

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Thu, 31 May 2018 08:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/197991/advanced-oncotherapy-receives-final-investment-payment-from-yantai-cipu-197991.html
<![CDATA[RNS press release - Update on financing ]]> https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180531070003_13660677/ Thu, 31 May 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/4119/LSE20180531070003_13660677/