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Advanced Oncotherapy (AVO) – Update on Harley Street and Sinophi
Advanced Oncotherapy – Update on Harley Street and Sinophi
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that the building work for the Harley Street site is expected to start in early January with completion of the building works expected by March 2018. This follows the successful planning permission granted by Westminster Council on 19 October 2016. The Harley Street Proton Treatment Facility will be jointly operated by Circle Health and the Company.
Separately, the Company has been informed by Sinophi Healthcare Limited (“Sinophi”) that Sinophi’s customers, will not now be proceeding with the installation of AVO’s LIGHT technology in the hospitals ofChina-Japan Union Hospital of Jilin University in Changchun and First People’s Hospital of Huai’An. Advanced Oncotherapy’s orders for the two machines from Sinophi remain in place and as per this agreement Sinophi and AVO are assessing other sites in the same cities as well as pursuing other framework agreements in China.
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Advanced Oncotherapy Plc |
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Dr Michael Sinclair, Executive Chairman Nicolas Serandour, CEO |
Tel: +44 20 3617 8728 |
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Stockdale Securities (Nomad & Joint Broker) |
Tel: +44 20 7601 6100 |
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Antonio Bossi / David Coaten |
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Stifel Nicolaus Europe (Joint Broker) |
Tel: +44 20 7710 7600 |
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Jonathan Senior / Ben Maddison |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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Paul McManus / Anna Dunphy |
Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
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 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.
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.
Advanced Oncotherapy (AVO) – Harley Street planning permission granted
Harley Street planning permission granted
Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that at a meeting held yesterday at Westminster City Council, planning permission for the Harley Street site was granted.
Commenting, Dr. Michael Sinclair, Executive Chairman and CEO of Advanced Oncotherapy, said: “The Harley Street Proton facility will make an important contribution to the advancement of next generation radiotherapy in the UK, and add even further lustre to the international reputation of the Howard de Walden Estate and the Harley Street Medical Area. Now that we are in a position to continue with the development, our partner, Howard de Walden Estates, plans to start work on the site as soon as possible. During the construction period every effort will be made to ensure minimal inconvenience to local residents.“
Simon Baynham, Property Director of Howard de Walden Estates, commented: “The Estate is delighted that this new ground breaking technology will be coming to The Harley Street Medical Area. From a personal point of view I know many people who would have benefited from this new technology had it been available previously. Accordingly the sooner we get on and build it, the better.”
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Advanced Oncotherapy Plc |
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Dr. Michael Sinclair, Executive Chairman & CEO |
Tel: +44 20 3617 8728 |
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Nicolas Serandour, CFO & COO |
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Stockdale Securities (Nomad & Joint Broker) |
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Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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Beaufort Securities (Joint Broker) |
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Jon Belliss / Elliot Hance |
Tel: +44 20 7382 8300 |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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Paul McManus / Anna Dunphy |
Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
I’m Banging on About this Cancer-Zapper, Again – But It’s Still on Course for Share Success – Malcolm Stacey at ShareProphets
Parts 1 and 2
by Malcolm Stacey
1) Hello Share Crafters. In the past I’ve probably written too many pieces on a medical share which I like. During that period, I’ve seen the shares rise from 2p to 17p. Sadly, the share price has reversed back to 6.5p. And the worst of it is I bought a shedload more shares when they were around 10p. I refer, of course, to that darling of the bulletin boards Advanced Oncotherapy (AVO). I haven’t featured the company for some time now and it’s probably worth an update.
OK, let’s look at the good bits about this interesting company. Advanced is convinced that it has the answer to a real – and it seems to me – a growing health problem.That is cancer and especially cancer in harder to get at areas, like the brain.
It is working on a system which zaps cancer cells with proton beams. Other companies do this, too, but the advantage for Advanced is that its system will be much cheaper to run and take up less valuable clinic space.
It is confident that it will be able to demonstrate a full scale prototype some time this year, before beginning commercial production in 2017.
I’ve been hearing what the chief executive Dr Michael Sinclair has to say. He argues that the medics and scientists working on the project could all be doing something else in their chosen field. But they are concentrating instead on this proton beam zapper. He says, and I believe him, that they would not do this for a technology that was not absolutely worth it.
He claims all those involved – and their names are well respected in the global fight against cancer – have one aim: to reduce the cost of treatment, especially among children. Probably to earn a little money for themselves, too, I expect.
The company has completed a significant fund raise and has in place alternative routes to extra finance should it be desired. However, it is not expected to be needed.
I have may have invested rather more than I really should in Advanced Oncotherapy. But it appears to be on track in doing what it has to do. So my money stands a real chance of doing the world a heck of a lot of good.
Unlike the Punter’s Return.
Link here for the full ShareProphets article 1
2) Hello Share Slickers. I’ve already featured the bulletin board darling, Advanced Oncotherapy (AVO) this week. But as I’ve currently spent a large wodge of time researching this interesting share, it would be a waste not to bring you a bit more info and opinion on a stock which has risen like a rocket and fallen like a brick. I think that fall has been overdone and punters are possibly waiting in the wings for a bit more news before they return to the stock.
That’s the trouble with Advanced as far as I can see. News of late has been thin on the ground. And when now’t happens there is normally a decay in share price.
The company is expecting to deliver ‘news’ during the third or fourth quarter of this year.
It presently claims that the cost of its proton beam cancer treatments are a fifth of some other proton machines. They will also take up far less room. And Advanced also makes claims in two other areas.
One is that its system is very precise. This means that cancer cells can be targetted, while cutting down any damage to healthy cells around the tumours.
Another important area of benefit – and I don’t think I’ve mentioned this before – is one of safety. The prototype will be installed in Harley Street, the medical centre of Britain. It will not be bunkered in a remote location, which is required by some other existing devices.
Advanceds proton beam system will not just be weighed against existing proton beam machines, but should also be able to replace existing x-ray treatments. Some of these around the world are rather antiquated now and so safety becomes paramount.
The size of the cancer treatment industry is huge. Advanced says it hopes to gather to it 10-15% of that market in the next 10-15 years. Also, though it is a relatively small company, it has some big partners in the med-tech industry and they will not want it to fail.
However, and I can’t stress this too strongly, Advanced is a pioneer and investors must be aware that risks usually accompany pioneering ventures.
That’s what we say in the Punter’s Return.
Link here for the full ShareProphets article 2
Advanced Oncotherapy announces Operator agreement with CircleHealth for Harley St site
Advanced Oncotherapy (AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has signed a joint venture agreement with CircleHealth to operate the Company’s proton beam cancer therapy centre in Harley Street.
Circle, owned by AIM-listed Circle Holdings plc (CIRC) which is an employee co-owned company, runs hospitals and healthcare across the UK. It has nearly 2,000 partners, working across four UK sites.
Under the terms of the agreement, Advanced Oncotherapy and Circle will jointly own a newly formed company into which funding of £6 million will be provided in equal portions by the parties and will cover, inter alia, pre-opening costs and working capital. The arrangement, together with further definitive agreements to be finalised in the coming months, would combine Circle’s clinician-led operating model with Advanced Oncotherapy’s next-generation proton therapy systems for cancer treatment. Once the centre commences operation the equity in the operating company will be owned as to 50.1% by Circle and the remaining 49.9% by Advanced Oncotherapy.
The Harley Street facility will house the UK’s first high energy proton beam cancer therapy centre. Circle Health will take responsibility for all operational and clinical matters at the facility as well as the additional procurement, fit-out and facility testing requirements needed for full commissioning and beyond the testing required during the technical development of the system. Circle Health will also take responsibility for insurance provision for the centre. Advanced Oncotherapy will take responsibility for all technical matters. A number of proposals from international financial institutions concerning the provision of vendor finance for the LIGHT technology in Harley Street are being considered.
The LIGHT (short for Linac Image Guided Hadron Technology) system, is a proprietary proton accelerator that will offer healthcare providers affordable proton therapy systems to treat cancer using a technology that in many instances can produce better health outcomes and lower treatment related side effects. The LIGHT system achieves the required energy levels found in legacy proton therapy machines but in a unit that is a fraction of the size and significantly lower in cost. The compact configuration of the LIGHT system lends itself perfectly to the installation of this technology in such central city locations, and the Harley Street site will house London’s first ever proton therapy unit.
The Company is also in discussions with Circle surrounding an agreement to supply its LIGHT system alongside CircleHealth’s planned new-build independent hospital in Edgbaston, Birmingham.
Steve Melton, Chief Executive of CircleHealth, said: “This is great news for patients, for Circle and for Advanced Oncotherapy. Advanced Oncotherapy is creating a genuinely revolutionary technology, at the cutting edge of cancer treatment. We’re delighted to be working with them. When completed this deal means the expansion of Circle into London – giving us a presence in one of the world’s greatest medical centres – and into cancer care, where there is huge potential for new technologies and exciting new treatments. For Circle, this is a clear signal of our intention to grow and expand, by combining our experience in operations with other organisations’ specialist skills.”
Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: “Circle Health has a great record for providing innovative healthcare delivery and are the ideal candidate to operate our flagship Harley Street site. Whilst we expect our ongoing business model to focus on Advanced Oncotherapy as a manufacturer of cutting edge proton therapy systems, we felt it was crucial, given the strategic importance of our first site in Harley Street, to have a vested interest in the ongoing operational success of our facility. Working alongside Circle Health, we expect it to transform the UK’s approach to cancer radiotherapy treatment.”
Advanced Oncotherapy Plc
www.avoplc.com
Sanjeev Pandya, CEO
Tel: +44 (0)20 3617 8728
Nicolas Serandour, CFO
Westhouse Securities (Nomad & Joint Broker)
Antonio Bossi / David Coaten
Tel: +44 (0)20 7601 6100
Beaufort Securities (Joint Broker)
Jon Levinson / Zoe Alexander
Tel: +44 (0)20 7382 8300
Walbrook PR (Financial PR & IR)
Tel: +44 (0)20 7933 8780 or avo@walbrookpr.com
Paul McManus / Anna Dunphy
Mob: +44 (0)7980 541 893 / Mob: +44 (0)7876 741 001
Advanced Oncotherapy (AVO) – Delivery of additional CCL unit and update on Harley Street
Delivery of additional CCL unit and update on Harley Street
In-line for high-power testing
Advanced Oncotherapy (AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that the second Coupled Cavity Linac unit has been manufactured and delivered to the Company’s testing facility in Geneva.
The CCL accelerating structures are an essential part of the LIGHT proton therapy system. They consist of a series of cells which accelerate the protons from energies of 37.5 Mega-electron Volts to the high energies required to treat radiosensitive tumours in a clinical setting. The finished LIGHT system will incorporate ten CCL units in total.
In addition, the first two Radio Frequency power Units, both the Modulator from Scandinova and the Klystron from Toshiba, have been delivered on schedule to Geneva following initial successful testing and will be used in the next few weeks to start CCL high-power testing, in-line with the timetable provided by the Company to shareholders in November 2014.
As well as this, the Company announces that Howard de Walden Estates Limited, which in January 2015 granted a 50 year lease to the Company for the Harley Street site, has agreed to expand the agreement beyond the 8,000 sq ft space agreed in the original lease. This would allow the Company to develop a Proton Therapy Centre on the same site but with an extended footprint, offering potential operators a larger overall facility to manage. The additional planning permission and reconfiguration of the original site plans will have an impact on the start date for work on the site, however the Company remains on schedule in its technology development to have its first LIGHT system ready for patient treatment in 2017.
Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: “This latest update shows that we continue to remain on target for the successful delivery of our first LIGHT system in-line with the timetable that we outlined to investors. We do have the opportunity to extend the footprint of our site in Harley Street, which could allow us to develop a bigger and better Proton Therapy Centre in Central London, and I look forward to updating shareholders as this progresses. Our focus still remains on the end-goal of having our technology ready for first patient treatment in 2017.”
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Advanced Oncotherapy Plc |
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Sanjeev Pandya, CEO |
Tel: +44 20 3617 8728 |
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Nicolas Serandour, CFO |
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Westhouse Securities (Nomad & Joint Broker) |
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Antonio Bossi / David Coaten |
Tel: +44 20 7601 6100 |
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Beaufort Securities (Joint Broker) |
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Jon Levinson / Zoe Alexander |
Tel: +44 20 7382 8300 |
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Walbrook PR (Financial PR & IR) |
Tel: +44 20 7933 8780 or avo@walbrookpr.com |
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Paul McManus / Anna Dunphy |
Mob: +44 7980 541 893 / Mob: +44 7876 741 001 |
Health Service Procurement Is a Mess – the Military Has Answers – Huffington Post
Health Service Procurement Is a Mess – the Military Has Answers – Huffington Post
Sanjeev Pandya
Chief Executive of Advanced Oncotherapy
Despite reform, the NHS’ procurement process still delivers poor value for money, stifles medical innovation and prevents new entrants to the market. It’s time to look to the military for solutions.
In 2002, the then Labour Health Secretary, Alan Milburn, announced plans for the establishment of Foundation Trusts. Seen as a radical shake up of the health service, by granting increased autonomy to local Trusts, Foundation status was seen as a mechanism to introduce much needed competition between hospitals. In turn, it was determined this competition would drive up clinical standards and curb wasteful spending, while also improving the managerial oversight of the health service as a whole. This internal ‘synthetic’ market was designed to incorporate the strengths of private healthcare provision, while retaining state control..
While Foundation Trusts have undoubtedly been successful in improving patient care and curbing wasteful spending in some areas, the system has also brought with it inherent disadvantages. One example of this is the procurement of high value medical equipment..
The news of the Health Department’s investment has already been superseded by developments in the private sector. In January it was announced that a pioneering private sector deal would see the delivery of a technically superior, more compact and lower cost proton therapy facility in the heart of London’s Harley Street. The next generation facility is set to come on stream a full year earlier than either of the two NHS centres..
Full article here