Source - LSE Regulatory
RNS Number : 7634W
Advanced Oncotherapy PLC
21 August 2020
 

21 August 2020

 

ADVANCED ONCOTHERAPY PLC

 

("Advanced Oncotherapy" or the "Company")

 

Draw down of $10 million from Nerano Pharma debt facility

 

Advanced Oncotherapy (AIM: AVO), the developer of next-generation proton therapy systems for cancer treatment, announces that it has drawn down an initial $10 million from the interest-bearing secured convertible facility with Nerano Pharma Limited ("Nerano Pharma"), details of which were announced on 29 June 2020. In relation to the first draw down of this facility, the Company has as a result paid a commitment fee of $0.6 million to Nerano Pharma. The funds drawn down will be used to further the development of the Company's LIGHT system.

 

 

- ENDS -

 

Advanced Oncotherapy plc

www.avoplc.com

Dr. Michael Sinclair, Executive Chairman

Tel: +44 (0) 20 3617 8728

Nicolas Serandour, CEO




Allenby Capital Limited (Nomad & Broker)


Nick Athanas / Liz Kirchner (Corporate Finance)

Amrit Nahal / Matt Butlin (Sales & Broking)

Tel: +44 (0) 20 3328 5656



FTI Consulting (Financial PR & IR)

advancedoncotherapy@fticonsulting.com

Simon Conway / Rob Winder

Tel: +44 (0) 20 3727 1000

 

Notes for Editors

 

About Advanced Oncotherapy Plc www.avoplc.com

 

Advanced Oncotherapy, a UK headquartered company with offices in London, Geneva, The Netherlands and in the USA, 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's compact configuration delivers proton beams in a way that facilitates greater precision and electronic control.

 

Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with innovative technology as well as expected 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.


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