28th Jul 2015 08:43
LONDON (Alliance News) - Advanced Oncotherapy PLC said Tuesday morning it has agreed with Howard de Walden Estates Ltd to expand the space agreed under its 50 year lease for its Harley Street site in London.
Additionally a second coupled cavity linac unit, part of its LIGHT proton therapy system, has been manufactured and delivered to its testing facility in Geneva.
LIGHT stands for Linac for Image Guided Hadron Therapy. The system is based around technology Advanced Oncotherapy acquired in 2013 with ADAM, a spin-off company from the European Organization for Nuclear Research, known as CERN, in Geneva.
The units consist of a series of cells that accelerate protons to the high energies required to treat radiosensitive tumours in a clinical setting. The finished system will use ten of these units in total.
Two radio frequency power units have also been delivered to Geneva for high power testing.
"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," said Chief Executive Officer Sanjeev Pandya in a statement.
Shares in Advanced Oncotherapy are trading down 1.0% at 7.30 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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