27th Oct 2014 09:17
LONDON (Alliance News) - Advanced Oncotherapy PLC on Monday said it has signed a memorandum of understanding with the TECHNA Research Institute of the University Health Network in Canada and TERA, the Italian foundation for hadron therapy.
Under the deal, the three will work together in order to advance developments in radiation treatment therapy. Advanced Oncotherapy said the deal will see the three work on the advancement of TERA's Carbon Booster for Therapy in Oncology
Advanced Oncotherapy secured a deal in 2013 to buy particle physics company ADAM SA, an acquisition which included exclusive rights to a number of intellectual properties developed by TERA.
"I am delighted that AVO and TERA have established this important relationship with the team at TECHNA. We have inherited a very valuable IP portfolio through the acquisition of ADAM last year and this agreement allows us to continue to explore ways to unlock maximum value for our shareholders," said Advanced Oncotherapy Chief Executive Officer Sanjeev Pandya.
Advanced Oncotherapy shares were up 3.0% to 4.12 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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