Advanced Oncotherapy announces first milestone payment for China LIGHT system – interim results due tomorrow

First milestone payment for China LIGHT system &

Completion of the first stage of installation of services to LIGHT

Advanced Oncotherapy confirms that it has received its first milestone payment for a LIGHT Proton Therapy System. The payment was made by Sinophi Healthcare Limited in accordance with the purchase agreement for the Company’s LIGHT proton therapy system announced for the oncology hospital project in Huai’an City, Jiangsu province in East China on 25 March 2015.

In addition to this commercial milestone, the Company has completed work at its Geneva testing facility on the installation of essential services required to complete the testing phase, including electrical supplies, installation of cooling systems and safety systems. This also includes the installation and site acceptance of the RF power units, the first accelerating structures, as well as associated sensors, meters and control systems.

Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: “We are making good progress in the development of our LIGHT system. We remain on track to complete the technical development of the first LIGHT system so that it is ready for patient treatment in 2017 in Harley Street. In addition this first milestone payment from Sinophi for a LIGHT system order from China is a good reminder of the huge potential that China and Southeast Asia offers. We are very encouraged by the commercial interest that Sinophi is generating for us in the region.“

Separately, the company will announce its interim results for the six months ended 30 June 2015 tomorrow, Tuesday 22 September 2015.