Advanced Oncotherapy (AVO) – Directorate change

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that Nicolas Serandour, Chief Operating Officer and Chief Financial Officer, will become Chief Executive Officer with immediate effect. Michael Sinclair, currently Chief Executive Officer and Executive Chairman, will retain his role as Executive Chairman.

Commenting, Dr. Michael Sinclair, Executive Chairman of Advanced Oncotherapy, said: “At this critical stage in our Company’s development it is appropriate that the roles of Chairman and Chief Executive are separated and I believe that Nicolas, who joined as Chief Financial Officer in September 2014 and who took on the additional role of Chief Operating Officer in February this year, is the natural choice to lead the Company on the next phase of this journey. Nicolas has over two years of experience within the business and a solid understanding of the operational challenges involved with the development of our first LIGHT machine as well as our ground-breaking undertaking at Harley Street. Nicolas will be the first to admit that the strength of the Company lies in the strong support of our Senior Leadership Team and I am sure that they will work very effectively to drive the business forward.”

On becoming Chief Executive Officer, Nicolas Serandour, commented: “We are very pleased with the progress we’ve made to date on the technology development of our LIGHT system. With planning permission now granted for the Harley Street site and the ongoing industrialisation partnership with Thales, we are now at a stage where we need to set out our plans for advancement beyond the technological readiness of our first LIGHT system. The construction tendering process for the mechanical & engineering installation, landlord’s fit out and commissioning for Harley Street is underway. This process will be iterative and should overlay with the finalisation of the parameters and scope of the facilities initial launch set up. Therefore it is my intention to spend the first 100 days in my role as CEO assessing and implementing new initiatives, such as the partnership with Thales, to allow us to sharpen our execution and commercial focus with the support of our partners.” 

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 a 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.

The Company has signed a purchase agreement with Sinophi Healthcare Limited for one LIGHT proton therapy system to be installed in a hospital in China and has further Letters of Intent from other healthcare providers.

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.