Draw down from Nerano Pharma debt facility
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.
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Advanced Oncotherapy plc
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)
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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