11th Feb 2020 11:42
(Alliance News) - Advanced Oncotherapy PLC on Tuesday said it has agreed with the London Clinic, a private independent hospital, to operate its first commercial LIGHT facility.
The developer of proton therapy systems for cancer treatment said it was selected by the London Clinic as a partner for proton therapy because LIGHT's reduced volume and modularity allow for implementation in existing clinical sites and densely populated areas where space is scarce.
Also, Advanced Oncotherapy said its LIGHT system is able to deliver more precise treatment due to the electronically-controllable energy modulation of the proton beams.
"Proton beam therapy is a very exciting new treatment but access has been limited due to the costs and size of equipment. Until now. Advanced Oncotherapy's LIGHT system reduces size and cost, while providing the same high success rate for patients," explained The London Clinic Chief Executive Al Russell.
Under the terms, Advanced Oncotherapy said it will provide the LIGHT proton accelerator and treatment room equipment, while the London Clinic will source and manage staffing, governance and other services necessary for the clinical operation of the facility.
Advanced Oncotherapy and the London Clinic will receive a share of the profit generated by the centre, which will be located on London's Harley street.
No financial details of the deal were disclosed.
Nicolas Serandour, CEO of Advanced Oncotherapy, said: "The proposed profit-sharing agreement with the London Clinic ensures that Advanced Oncotherapy retains an interest in the future success of the facility."
The stock was trading 4.7% lower in London on Tuesday at 36.44 pence a share.
By Evelina Grecenko; [email protected]
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