Advanced Oncotherapy PLC Second commercial sale of proton therapy system (8961C)
October 21 2015 - 1:00AM
UK Regulatory
TIDMAVO
RNS Number : 8961C
Advanced Oncotherapy PLC
21 October 2015
21 October 2015
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Second commercial sale of proton therapy system in China
Further Framework Agreements for four new proton therapy
centres
Advanced Oncotherapy (AIM: AVO), the developer of
next-generation proton therapy systems for cancer treatment,
announces that, further to the announcement of 20 August 2015, it
has now received a purchase order for its LIGHT machine from the
China-Japan Union Hospital of Jilin University, through its
partnership with Sinophi Healthcare Limited ("Sinophi").
The China-Japan Union Hospital is one of the largest hospitals
in NE China with over 3,300 beds and is located in Changchun, Jilin
Province. The purchase order, worth between $75-80m (subject to
final configuration of the treatment rooms), relates to a single
LIGHT system to be installed at the heart of a five treatment room
facility.
This is the second commercial sale of the Company's
next-generation proton therapy system in China and follows the
announcement in March 2015 that the Company's LIGHT system will be
installed as part of Sinophi's oncology hospital project in Huai'an
City, in Jiangsu province, East China.
Sinophi is a UK company investing in and managing public general
and speciality hospitals in China, providing them with the best and
most affordable technology to improve patient outcomes. Sinophi has
an exclusive 15-year agreement with Advanced Oncotherapy to
distribute the Company's LIGHT system in China and a number of
other countries in Southeast Asia.
In addition, and to coincide with the UK State Visit of China's
President His Excellency Mr Xi Jinping, Sinophi have announced that
further Framework Agreements will be confirmed at a signing
ceremony to be held later today. In total the signing ceremony will
ratify the building and establishment of various hospital
facilities in China at a total cost of approximately GBP800m. These
include the building of the two hospitals in Huai'an City and
Changchun, Jilin Province where Advanced Oncotherapy has now
received purchase orders for its LIGHT system, as well as four
additional Sinophi Proton Centres that are expected to use Advanced
Oncotherapy's technology, and the development of a maternity
hospital.
The Framework Agreements with the four additional Sinophi Proton
Centres agreements do not as yet constitute purchase orders for the
LIGHT machine. As and when these are received the Company will
update shareholders.
Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said:
"I am delighted to have signed our second commercial purchase order
for our LIGHT system. This, and the further Framework Agreements
being signed today, are a testament to the successful partnership
between Sinophi's strong healthcare network in China and our
ground-breaking proton therapy technology. The advantages of our
technology over existing products is generating strong interest
across China. With over 20% of the world's newly diagnosed cancer
cases coming from China this market represents a huge opportunity
for us."
Commenting on the signings, Dr Hanif Kanji, CEO of Sinophi
Healthcare Limited said: "The UK and China have many shared
challenges dealing with cancer. Our Sinophi Proton Centres in five
of China's leading cities will expand to more Chinese cities to
support the objectives of the Chinese Government's healthcare
reform programme by making proton treatment widely available at
reduced cost, saving lives and improving the quality of life of
cancer patients."
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 Tel: +44 (0)20 7601 6100
Coaten
Beaufort Securities (Joint
Broker)
Jon Levinson / Elliot Tel: +44 (0)20 7382 8300
Hance
Walbrook PR (Financial Tel: +44 (0)20 7933 8780
PR & IR) or avo@walbrookpr.com
Paul McManus / Anna Dunphy Mob: +44 (0)7980 541 893
/ Mob: +44 (0)7876 741 001
About Advanced Oncotherapy Plc www.avoplc.com
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 fraction of the size and significantly lower in cost. This
compact configuration delivers proton beams in a way that
facilitates a greater precision and electronic control which is not
achievable with older technologies.
Advanced Oncotherapy is a provider of particle therapy with
protons that harnesses the best in modern technology. As a result,
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.
The Company has signed a purchase agreement with Sinophi
Healthcare Limited for one LIGHT proton therapy system to be
installed in a hospital in China and has further Letters of Intent
from other healthcare providers.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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