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Advanced Oncotherapy - Partnership with The London Clinic

RNS Number : 5997C
Advanced Oncotherapy PLC
11 February 2020
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

11 February 2020

 

ADVANCED ONCOTHERAPY PLC

 

("Advanced Oncotherapy" or the "Company")

 

Advanced Oncotherapy partners with The London Clinic, a pioneering cancer treatment centre, to operate Harley Street proton therapy facility

 

Advanced Oncotherapy will lease part of The London Clinic's premises to install a second treatment room

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, is pleased to announce a memorandum of understanding ("MoU") with The London Clinic, the UK's leading private independent hospital, to operate Advanced Oncotherapy's first commercial LIGHT facility on Harley Street in London.

 

The London Clinic has selected Advanced Oncotherapy as its partner for proton therapy not only because LIGHT's reduced volume and modularity allow for implementation in existing clinical sites and densely populated areas where space is scarce, but also because Advanced Oncotherapy's LIGHT system has been designed to generate a much smaller beam and, as such, is able to deliver more precise treatment due to the electronically-controllable energy modulation of the proton beams.

 

Under the terms of the MoU, it is intended that Advanced Oncotherapy will provide the LIGHT proton accelerator and treatment room equipment and The London Clinic will source and manage staffing, governance and other services necessary for the clinical operation of the facility. Advanced Oncotherapy and The London Clinic will receive a share of the profit generated by the centre. The full terms of the partnership between Advanced Oncotherapy and The London Clinic remain confidential.

 

The London Clinic, one of the UK's largest private charitable hospitals, has a pioneering cancer treatment centre in its Duchess of Devonshire wing, which is at the forefront of advancing healthcare. Current innovation includes offering cancer patients advanced diagnostic scanning, adaptive radiotherapy for bladder cancer and the use of hydrogel spacers to minimise the side effects of prostate cancer radiation therapy. The London Clinic, as part of its charitable purpose, also offers free of charge survivorship programmes for cancer patients.

 

Al Russell, Chief Executive Officer of The London Clinic, commented:

 

"Proton beam therapy is a very exciting new treatment but access has been limited due to the costs and size of equipment. Until now. Advanced Oncotherapy's LIGHT system reduces size and cost, while providing the same high success rate for patients. We're excited to be the first hospital in London to offer this new treatment. The new service will adjoin our main site on Harley Street, and enable The London Clinic to help even more patients fight and survive cancer while furthering our aim of advancing healthcare."

 

Nicolas Serandour, Chief Executive Officer of Advanced Oncotherapy, commented:

 

"We are delighted to announce that The London Clinic will now operate our Harley Street LIGHT facility, the agreement with Circle Health having lapsed. The site is expected to allow us to treat a wide group of patients and help drive further awareness to proton beam therapy for the treatment of cancer. The London Clinic is one of the leading private cancer treatment hospitals in the UK and its decision to select our LIGHT system for proton beam therapy is a significant validation of our technology and capabilities. The proposed profit-sharing agreement with The London Clinic ensures that Advanced Oncotherapy retains an interest in the future success of the facility."

 

- ENDS -


FOR MORE INFORMATION AND MEDIA INTERVIEWS, CONTACT:

 

Advanced Oncotherapy plc

www.avoplc.com

Dr. Michael Sinclair, Executive Chairman

Tel: +44 (0) 20 3617 8728

Nicolas Serandour, CEO




Allenby Capital Limited (Nominated Adviser & Broker)


Nick Athanas / Liz Kirchner / Nicholas Chambers

Tel: +44 (0) 20 7601 6100



FTI Consulting (Financial PR & IR)

[email protected]

Simon Conway / Rob Winder

Tel: +44 (0) 20 3727 1000



The London Clinic

www.thelondonclinic.co.uk

Neil Wilkins, Head of Communications

Tel: +44 (0) 7704 53 66 33


[email protected]

 

Notes for Editors

 

About the London Clinic www.thelondonclinic.co.uk

The London Clinic is an independent, charitable hospital in Harley Street, the heart of London's medical district. As a pioneering hospital, The London Clinic's cutting-edge technologies and world-renowned consultants attract thousands of patients every year from global destinations. Our 600 consultants specialise in cancer care, digestive diseases, orthopaedics (including hips, knees, shoulders and fingers with on-site physiotherapy rehabilitation), neurology, cosmetic surgery, liver services, gastroenterology, urology, endoscopy, diabetes, haematology and endocrinology.

 

About Advanced Oncotherapy plc www.avoplc.com

Advanced Oncotherapy, a UK headquartered company with offices in London, Geneva, The Netherlands and in the USA, is a provider of particle therapy with protons that harnesses the best in modern technology. 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's compact configuration delivers proton beams in a way that facilitates greater precision and electronic control.

 

Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with innovative technology as well as expected lower treatment-related side effects.

 

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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