Supply agreement with Pyramid

RNS Number : 8420B

Advanced Oncotherapy PLC

12 January 2015

 



12 January 2015

ADVANCED ONCOTHERAPY PLC

("Advanced Oncotherapy" or the "Company")

Supply agreement for directional dose delivery system components

Advanced Oncotherapy (AIM: AVO), the developer of next generation proton therapy systems for cancer treatment, announces that it has signed a supply agreement with Pyramid Technical Consultants, Inc. (Lexington, MA) ("Pyramid") to act as preferred supplier for the dose delivery system ("DDS") components of the LIGHT accelerator. The DDS - also referred to as a nozzle - is positioned at the end of the accelerator and is a crucial element of the LIGHT system. It ensures that the proton beam is both measured and targeted to maximise its effectiveness in cancer treatment.

As mentioned in the Interim Results announcement in September and at the successful investor presentation in November, a key milestone in the construction of the LIGHT system is the development of the directional dose delivery system and the agreement with Pyramid is the first step in this process. Importantly, this agreement also represents the next step in building the integrated network of suppliers needed for the LIGHT system and follows on from successful agreements with Toshiba Electron Tubes & Devices Japan, ScandiNova Systems, ICT Automatisering and VDL ETG Projects.

Pyramid, which was established in 1986, brings a long-lasting and acknowledged capability in proton therapy, particularly its state of the art ionisation chambers, high performance dosimetry processing electronics and scanning magnet design.

Sanjeev Pandya, CEO of Advanced Oncotherapy, commented: "The DDS is a fundamental part of the LIGHT machine: the protons exit the particle accelerator after 3 micro-seconds at a speed of 180,000 km per second, so the accuracy of this component is paramount. With Pyramid, we will benefit from their great track-record, particularly from a technical and regulatory standpoint. This agreement highlights our commitment to work with strong global partners that will continually strive for excellence in service and value. It also marks an important milestone in establishing Advanced Oncotherapy as a significant player in the proton therapy market, further paving the way for the creation of our game-changing LIGHT system. The signing of this agreement means we have now secured our final major partner needed to build the LIGHT System."

Pyramid President, Dr Paul Boisseau, commented: "By choosing to provide our Scan/Dose technology to Advanced Oncotherapy, Pyramid is playing a key role in the development of a new wave of radiation therapy systems. This agreement is in keeping with our understanding of the medical market and the company's commitment to working with Advanced Oncotherapy to create a cutting-edge leader in proton therapy."

Advanced Oncotherapy Plc	www.avoplc.com
Sanjeev Pandya, CEO	Tel: [phone]
Nicolas Serandour, CFO
Westhouse Securities (Nomad & Joint Broker)	Tel: [phone]
Antonio Bossi / David Coaten
Beaufort Securities (Joint Broker)	Tel: [phone]
Saif Janjua / Jon Levinson
Walbrook PR (Financial PR & IR)	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy	Mob: [phone] / Mob: [phone]

About Advanced Oncotherapy Plc www.avoplc.com

Advanced Oncotherapy's team based at CERN 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 a greater precision and electronic control which is not achievable with older technologies.

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, 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.

About Pyramid Technical Consultants

Founded in 1986, Pyramid has the expertise, and experience to deliver system-ready technology including electronics, software, magnetic optics, and electro-mechanical assemblies. Pyramid frequently takes a major role in the development of new systems, working closely with the client to structure an innovative and effective solution. With proven success and partnerships worldwide, Pyramid supports clients in particle therapy, industrial control, and scientific instrumentation.

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

 

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