Advanced Oncotherapy PLC (AIM:AVO) said it is raising £800,000 via a direct subscription for shares at 25p each – a modest premium to Friday’s close.
The shares come with a warrant exercisable at 25p until June 2026.
The proceeds will be used for ‘general corporate purposes as the company progresses towards having a fully operational LIGHT system operating at 230 MeV’.
AVO has developed a proton beam therapy technology that is far smaller but as effective as the current cancer treatment systems.
Its first commercial base will be on Harley Street, the heart of London’s medical district.