Appointment of New CEO

RNS Number : 5179I

Advanced Oncotherapy PLC

02 June 2014

 



 2 June 2014                                                                                                                                                     

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or "the Company")

Appointment of CEO

Advanced Oncotherapy (AIM: AVO), the developer of innovative medical technology for cancer treatment, announces the appointment of Sanjeev Pandya, currently the Chief Operating Officer of the Company, as Chief Executive Officer, effective immediately. Following this change in management structure, current CEO Dr Michael Sinclair has become Executive Chairman of the Company. Lord David Evans has now become Deputy Chairman and Chair of the Audit and Remuneration Committees.

Sanjeev trained and worked as an orthopaedic surgeon in the NHS and various Third World countries before working as a strategy consultant with McKinsey & Company. He also worked at Lehman Brothers as an investment banker in healthcare M&A as well as various industry positions.  He has a medical degree from Trinity College, Cambridge and an MBA from INSEAD. He joined Advanced Oncotherapy as Director of Special Projects in October 2013 before being promoted to Chief Operating Officer thereafter.

Michael Sinclair, CEO of Advanced Oncotherapy commented: "Following the recent successful fund raise of £6m, Advanced Oncotherapy is now well placed to develop and commercialise the LIGHT proton beam system for therapeutic use in hospitals around the world.  Sanjeev has the skill and drive to take the company forward with his medical experience and knowledge of the sector. He and I have established an extremely effective working partnership over the last six months. He is ideally suited to the role of Group CEO and I very much look forward to continuing to grow AVO with him together with our extremely talented Executive Team".

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]
Jon Levinson / 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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