TIDMAVO
RNS Number : 6494Y
Advanced Oncotherapy PLC
06 March 2017
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Investor presentation and Update
Advanced Oncotherapy (AIM: AVO), the developer of next
generation proton therapy systems for cancer treatment, will be
hosting investor and analyst presentations in London later today
and in Zürich, Switzerland, the following day, Tuesday 7 March
2017.
The presentations will outline some of the key aspects of
Advanced Oncotherapy's technology, the clinical benefits of proton
therapy, the rationale for using linear accelerators and the key
milestones for the manufacturing and commercialisation of LIGHT
(Linac for Image Guided Hadron Therapy). These events are in
relation to the initial 100 day review that has been conducted by
CEO Nicolas Serandour, as announced upon his appointment on 27
October 2016.
The Company's focus remains on delivering the technical
development of its first LIGHT machine and its installation at
Harley Street, which is pivotal to its future strategy. The details
of the manufacturing and commercialisation process of Advanced
Oncotherapy's LIGHT system, including installation at the Harley
Street site, will be discussed during the presentation and are
provided in the update below:
Harley Street
As announced last month, Deconstruct (UK) Limited has been
appointed by Howard de Walden Estates as principal contractor to
the project and were on site in January carrying out preliminary
assessment and works. Following the preparatory works, excavation
is due to commence on 27 March 2017.
All necessary tendering processes have been completed. Based on
initial quotes, on-site excavation and build times for the core and
shell are estimated to take between 62 and 96 weeks. Additional
time of up to 52 weeks will be required for full fit-out, including
the installation of cooling systems and power supplies. The
construction time reflects the constraints associated with two
listed buildings (141 and 143 Harley Street) in a residential area.
Yet it compares favourably to building times associated with the
construction of multi-room proton beam facilities using legacy
technologies traditionally built in large and remote areas, which
is in the range of three to four years on average. The site is
therefore expected to be ready for installation by H1 2019.
Following regulatory approval and commissioning, the first patient
treatment at Harley Street is expected in H2 2020.
Production manufacturing site
The Company's strategy is to establish a mass production
facility, which will be ready for production once regulatory
approval for the LIGHT system is granted. The Company continues to
advance the arrangements with its manufacturing partner, Thales, to
establish two custom designed series production lines for volume
production at their factory in Thonon, France. The production
facility is expected to be ready to receive LIGHT system components
in Q1 2018, with all components due to be installed to create a
LIGHT system operating at the maximum required energy ahead of the
expected completion of the building in Harley Street in H1
2019.
Technology development
As announced on 22 December 2016, the Company successfully
integrated the proton source and Radio Frequency Quadruple (RFQ),
and demonstrated a predictable acceleration of the proton beam
through the RFQ with measurements that matched those expected from
computer simulations. Following further testing at full power the
Company successfully increased the acceleration and energy of the
proton beam in February, from 40keV to 5MeV, which is the
requirement for this module.
Further progress in the completion of the final stages of the
manufacture of its first LIGHT system will continue throughout 2017
and the first LIGHT system is expected to be capable of treating
superficial tumours in Q3 2018.
To maximise progress of the LIGHT system, the Company will have
two testing facilities in Geneva, Switzerland and at Thales'
facilities in Vélizy, France. Additional key development milestones
are included in the table further below.
Commercial opportunities & Regulatory
The Harley Street site remains the first site where the LIGHT
system will be installed. Discussions are also ongoing surrounding
an agreement to supply a LIGHT system alongside Circle Health's
planned new-build hospital in Birmingham.
The Company is in negotiations with a handful of sites in the
USA as well as other operators in Europe, Asia and the Middle East.
The Company remains confident that demand for its next-generation
proton therapy system will be strong and that additional commercial
sales will be secured in due course.
In addition, a number of meetings have been held with regulatory
bodies in Europe, US and China, which provides the Company with
confidence that they are pursuing a valid path to ensure future
regulatory approvals.
A summary of key technical milestones is provided below:
By end Q2 2017
* Delivery of all CCL units
* Beam fired through RFQ
--------------- ---------------------------------------------------------------
By end Q4 2017
* Beam through SCDTLs at an energy of 20-25MeV
* Development of the Patient Positioning System
--------------- ---------------------------------------------------------------
By end Q2 2018
* Beam fired through the first CCL
* Directional dose delivery system (or Nozzle) ready
for installation
--------------- ---------------------------------------------------------------
By end Q3 2018
* Beam capable of treating superficial tumours
--------------- ---------------------------------------------------------------
The slides that will be used in the presentations will be
available on the Company website:
http://www.advancedoncotherapy.com/Investors/Results-reports-and-presentations
Anyone wishing to attend the investor presentations, and have
yet to do so, should contact Walbrook PR on 020 7933 8780 or email
avo@walbrookpr.com.
For further information, please contact:
Advanced Oncotherapy plc www.avoplc.com
Nicolas Serandour, Chief Tel: +44 20 3617 8728
Executive Officer
Michael Sinclair, Executive
Chairman
Stockdale Securities (Nomad Tel: +44 20 7601 6100
& Joint Broker)
Antonio Bossi / David Coaten
Stifel Nicolaus Europe (Joint Tel: +44 20 7710 7600
Broker)
Jonathan Senior / Ben Maddison
Walbrook PR (Financial PR Tel: +44 20 7933 8780
& IR) or avo@walbrookpr.com
Paul McManus Mob: +44 7980 541 893
Anna Dunphy Mob: +44 7876 741 001
About Advanced Oncotherapy plc www.avoplc.com
Advanced Oncotherapy 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 accelerates protons to the
energy levels achieved in legacy machines but in a unit that is a
quarter of the size and between a quarter and a fifth of the cost.
This compact configuration delivers proton beams in a way that
facilitates greater precision and electronic control which is not
achievable with older technologies.
Advanced Oncotherapy will offer healthcare providers affordable
systems that will enable them to treat cancer with an innovative
technology as well as better health outcomes and 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 company news service from the London Stock Exchange
END
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