Advanced Oncotherapy Announce New American Entity

RNS Number : 2101K

Advanced Oncotherapy PLC

23 June 2014

 



 23 June 2014                                                                                                                                                   

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or "the Company")

Advanced Oncotherapy Announce New American Entity

Advanced Oncotherapy (AIM: AVO), the developer of innovative radiation technology for cancer treatment, are pleased to announce the creation of its wholly owned affiliate, based in the US. The new company, called AVO Americas Inc., will focus its operations on North, Central and South America and will further strengthen the Company's presence in the Americas. This is a significant development for the Company and highlights the Company's strategy to target the capacity for global growth in the business.

The opening of a new office is fundamental in the preparation for the Company's first North American installation of a LIGHT machine - a direct medical application of high energy particle physics by the Company's wholly owned subsidiary ADAM, a CERN spin-off company - at SUNY Upstate Medical University in Syracuse, New York. Syracuse is set to become the US hub for research, training and treatment for the next generation of cancer fighting equipment.

The office will be based in the Central New York Biotech Accelerator building, a 40,000 square foot facility designed to be at the forefront of commercialising biomedical technology businesses. The state of the art building is well equipped with modern laboratory space, office space and conference areas for a group of synergistic growth orientated companies. The location is key as it is positioned to provide AVO Americas Inc with multiple opportunities to network with like-minded businesses.

The office will be managed by Jay Sinclair, AVO's US Operations Manager who commented: "We are delighted to be co-located in this state-of-the-art facility nestled at the heart of University Hill right in the centre of the medical university.  The resources and business support from the University and SUNY system and access to a world class cancer treatment provider mean that we will be immediately well placed to get down to business."

Commenting on the announcement, Sanjeev Pandya, CEO of Advanced Oncotherapy said: "I am delighted that we have launched the new office in the US. This important milestone, coupled with our recent successful fundraise, brings us one step closer to commercialising our LIGHT technology. We are now looking forward to working more in the US and establishing ourselves as a market leader in this space."

The US office details are - Suite 1009, CNY Bio Accelerator Building, 841 East Fayette Street, Syracuse, NY 13210, USA.

For further information contact:

Advanced Oncotherapy Plc	www.avoplc.com
Sanjeev Pandya, CEO	Tel: [phone]
Westhouse Securities (Nomad & Joint Broker)	Tel: [phone]
Antonio Bossi / David Coaten
Peterhouse Corporate Finance (Joint Broker)	Tel: [phone]
Lucy Williams
Walbrook PR (Financial PR & IR)
Anna Dunphy/Mike Wort	Tel: [phone] or [e-mail]

About Advanced Oncotherapy

Vision:

To advance patients' clinical treatments and improve their everyday lives by harnessing innovative science and focusing it to develop the most effective and affordable cancer treatments.

Mission:

To facilitate the wider use of radiation with protons for treating all forms of cancerous tumours by commercialising novel technologies inspired by CERN and the Large Hadron Collider.

Key corporate messages:

AVO's team based at CERN near Geneva focuses on the development of a proprietary proton system called Linac Image Guided Hadron Technology (LIGHT). This LIGHT system 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 a greater precision and electronic control which is not achievable with older technologies.

AVO is a provider of proton radiotherapy that harnesses the best in modern technology.  As a result, the Company will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology which is proven to bring better health outcomes and lower treatment related side effects.

AVO 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 innovative and cost-effective equipment for proton radiation. This will allow healthcare suppliers to access more cost effective and more efficient ways to treat the increasing number of cancer patients who expect lower short term and long term side effects of their cancer care. 

AVO's subsidiary company, Oncotherapy Resources Ltd, offers an exclusive mobile service for intraoperative radiotherapy (SD-IORT).  This form of radiotherapy is used in a variety of cancers, notably breast cancer, and offers a convenient, safe and effective alternative for the patient.  It is currently available in the UK from Spire Healthcare and BMI Healthcare Hospitals.

Through its shareholding and collaboration with Advanced Proton Solutions (APS), AVO can offer a complete turnkey solution to the design installation and operation of its LIGHT proton system for healthcare providers. This is attractive to potential purchasers and has led to its involvement in the development of the first comprehensive proton beam therapy centre in London to treat both NHS and private patients. 

For more information, please visit http://www.avoplc.com

 

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