Cancer treatment group Advanced Oncotherapy PLC (LON:AVO) says it will retain full distribution rights for its LIGHT proton therapy system in China and other countries in South East Asia, as it terminated its distribution agreements with Sinophi Healthcare.
As reported in January, Sinophi had cancelled two purchase orders it made back in 2015.
Advanced chief executive Nicolas Serandour said on Monday: "Whilst it is disappointing that we have had to terminate our arrangements with Sinophi, I am pleased that we have reached an amicable agreement and as a management team we are able to focus our full attention on manufacturing our first LIGHT system.
"China and South East Asia remain exciting prospective markets for our technology and I am confident that as we move closer to completing our first operational machine we will be able to deliver the commercial success that our shareholders expect."
The company points out it can now re-engage with hospitals, clinics, potential distribution partners and advisory bodies, such as the UK's Department for International Trade in the region.
As part of the end of the Sinophi deal, the firm has repaid a deposit of $250,000 received in September 2015, it added.