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RNS Number : 5635D Advanced Oncotherapy PLC 30 June 2021 30 June 2021 Prior to publication , the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation . With the publication of this announcement , this information is now considered to be in the public domain . ADVANCED ONCOTHERAPY PLC ( " Advanced Oncotherapy " or the " Company " ) Final Results for the year ended 31 December 2020 Completed significant progress in line with the Company's objective to deliver an operational LIGHT system with a 230MeV beam in H2 2021 Signed further commercial partnerships demonstrating the unmet need for proton therapy Advanced Oncotherapy ( AIM : AVO ) , the developer of next - generation proton therapy systems for cancer treatment called LIGHT systems ( LIGHT ) , today announces its audited results for the year ended 31 December 2020 . Key Highlights ( including post - period ) : Strong progress towards completing the first operational LIGHT system capable of accelerating protons at 230 MeV and the Company remains on track to attain this milestone during H2 2021 : Completed the manufacture of all critical hardware for the first LIGHT system and machine installation process was optimised to enable the reduction of the start - up time for future LIGHT systems . Infrastructure is now in place to support assembly and testing activities ; site preparation at Daresbury is ready to support the ultra high vacuum tests and the high - voltage conditioning of the accelerating structures . The LIGHT system is now capable of supporting the delivery of a proton pulse every 5 milliseconds . Full medical software suite is integrated , and the Company obtained the re - certification of ISO 13485 . Signed a lessor financing partnership with Kineo Finance , formerly known as DiaMedCare , providing easier access system through a flexible financing solution that reduces the need for large initial upfront payments from customers . Signed multiple commercial partnership agreements with external stakeholders : Announced a partnership with The London Clinic to operate the Company's first commercial LIGHT facility inHarley Street , London : § Cancer partnership entered into between The London Clinic and the Cleveland Clinic in London resulting in more patients being referred to the proton therapy centre in Harley Street . the Company's LIGHT Entered into an agreement for the sale of a LIGHT system to the Mediterranean Hospital in Cyprus . As part of the agreement , the Company will receive € 50m and share of profits from clinical services . Collaboration with University Hospitals Birmingham ( UHB ) NHS Foundation Trust for the installation of a LIGHT system . The envisaged location of the machine is the UHB campus in Birmingham and it is intended that a revenue sharing arrangement will be implemented . Post - period , signed a Letter of Intent with Saba Partners for the proposed purchase of a three - treatment room for LIGHT system in Switzerland . Published new data supporting the versatility of the LIGHT platform and the potential to address a high unmet medical need . Pursued additional financing in 2020 to support its operations : Signed two financing agreements with VDL and Nerano Pharma , providing the Company with £ 40m of funding to further the development of LIGHT and advance manufacturing . Completed two equity fundraises totalling £ 23.2m to strengthen the Company's balance sheet and contribute to the funding for progressing the assembly , documentation , verification and validation activities . Lori Cross appointed as a Non - Executive Director on the Board . Nicolas Serandour , Chief Executive Officer of Advanced Oncotherapy , said : " I am pleased with the Company's progress over the past year , which would not have been possible without the outstanding work of our staff and their devotion to save lives . In these unprecedented times and despite challenges brought by Covid - 19 , the Company continued to focus its efforts towards achieving its objective of delivering an operational LIGHT system with a 230MeV beam in 2021 . Research published in 2020 and in the first half of 2021 holds great promise for the use of LIGHT in two exciting new treatment areas . A study published by the Mayo Clinic highlighted the benefits of combining a high - density proton radiation beam , such as the one designed with LIGHT , with immuno - oncology drugs to more effectively treat a wider range of patients than is possible with proton therapy or immunotherapy alone , including those with metastatic cancers . The constant proton beam output intensity of LIGHT also offers an ideal platform for FLASH radiotherapy in which patients , regardless the location of the tumour in the body , are treated in one single visit , as opposed to the usual 20-35 visits . " Looking ahead , we are confident in our ability to meet our targets . We bolstered our financial position through additional financing in the period to support activities needed to ensure the LIGHT system is operational and with a 230MeV beam . In line with our strategy , we also continued to develop partnerships with key stakeholders including Kineo Finance , the London Clinic , University Hospitals Birmingham and Mediterranean Page 1 of 10