Advanced Oncotherapy (AVO) – Harley Street construction update

Advanced Oncotherapy (AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that excavation work at its flagship Harley Street site is progressing well and on time.

Work has been completed on multiple stages of site work and demolition activity, with groundworks and piling, the longest stage in the excavation and build process for the core and shell, to follow shortly.

The Company and The Howard de Walden Estate, the latter of which is funding the demolition and reconstruction work, remain confident that the principal contractor for this project, Deconstruct (UK), is on schedule to deliver to the timetable provided on 6 March 2017.

Deconstruct (UK) is highly experienced in strategic demolition; that is, preserving the integrity and appearance of a Grade 2 listed building, such as 141/143 Harley Street. The listed status of the buildings and their location add a complexity to the build that would preclude the installation of traditional proton beam therapy technology on such a site. LIGHT’s unique feature of modularity enables it to go into Harley Street and will, just as importantly from a commercial perspective, facilitate the installation of additional LIGHT systems in existing and new radiotherapy departments globally.

This feature is most clearly demonstrated by the ability to deliver LIGHT’s compact accelerating modules on site via the front door of 141/143 Harley Street, thereby removing the requirement for open-roof access and use of a crane.

As previously outlined to shareholders, the Company’s first LIGHT system is due to be capable of clinical operation by Q3 2018 and installation in the Harley Street facility is expected to take place during H2 2019. Further updates on technical milestones will be provided through 2017 and 2018.