Advanced Oncotherapy draws down first $10m from Nerano facility

Proton cancer treatment developer Advanced Oncotherapy has drawn down an initial $10m (£7.65m) from the interest-bearing secured convertible facility with Nerano Pharma, it announced on Friday.

The AIM-traded firm had announced details of the facility on 29 June.

“In relation to the first draw down of this facility, the company has as a result paid a commitment fee of $0.6m to Nerano Pharma,” the board said in its statement.

“The funds drawn down will be used to further the development of the company's LIGHT system.”

At 1608 BST, shares in Advanced Oncotherapy were up 0.31% at 32.6p.