Advanced Oncotherapy PLC (LON:AVO) shares soared at the opening bell on Monday after the company confirmed it is on track with the development of its first LIGHT proton therapy system.
The AIM-quoted group said it still expects the first system to be capable of treating superficial tumours by the end of the third quarter of next year.
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AVO has previously stated that its Harley Street facility – which is also in the middle of development – should be ready to have the first LIGHT machine installed by the first half of 2019, with the first cancer patient treated the following year.
Proton beam energy gradually building up
As for the progress announced today, the firm told investors that it has successfully integrated the first Side Coupled Drift Tube Linac (SCDTL) accelerating module with the Radiofrequency Quadrupole and proton source.
That seems quite complex, but it essentially allowed AVO to fire the proton beam – which is what will attack the cancerous cells – at 7.5 megaelectronvolts (MeV), higher than the 5MeV it had generated earlier this year.
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It’s the latest phase of accelerating the proton beam which, when all four SCDTLs have been integrated, the company hopes will be capable of producing a 37.5MeV beam.
AVO added that it was particularly pleased given that it has so far been working with relatively low energies which are more challenging than when working with higher ones.
Progress validates system design
“All of our tests to generate and accelerate a proton beam have been successful and this represents significant progress in validating the capabilities of the first in the next group of accelerating components,” said chief executive Nicolas Serandour.
“This is another notable achievement for the team in Geneva and paves the way for the integration and validation of subsequent SCDTL modules.”
“We can confirm that, following these successful trials, the Company remains on track to build a proton therapy system capable of treating superficial tumours by the end of Q3 2018.”
Shares surged 11.2% to 17.8p in early deals.