Advanced Oncotherapy PLC (AIM:AVO) said it had made "significant strides" towards getting its proton beam therapy system operational – with the major breakthrough occurring just days ago.
The company, which has developed the LIGHT system that is significantly smaller than existing technology, produced a proton beam at 230 megaelectron volts (MeV) at its assembly site in Daresbury, Cheshire.
Significantly, 230 MeV is the energy required to treat deep-seated tumours at a depth of 32 centimetres.
The next step is to begin the commissioning process for a treatment room that is expected to receive its first patients in the second half of next year.
“As a result of our efforts, we can now move towards the next stage of this project which will use a pathway followed by all proton therapy systems for the certification process for the treatment of patients,” said chief executive Nicolas Serandour.
“We anticipate that the first patient will be treated at the facility in Daresbury in the second half of 2023.
“Additionally, we expect the recent validation of the company's technology will accelerate the signing of further commercial contracts with new customers and the advancement of our existing partnership arrangements.”
The update was provided alongside the company’s interim results, which showed AVO made a loss of £15.9mln for the six months ended 30 June 2022 as the company invested to get the technology to the breakthrough point.
Crucially, it has raised £13.4mln in recent months to support its "ongoing activities".