Technology development
As announced on 22 December 2016, the Company successfully integrated the proton source and Radio Frequency Quadruple (RFQ), and demonstrated a predictable acceleration of the proton beam through the RFQ with measurements that matched those expected from computer simulations. Following further testing at full power the Company successfully increased the acceleration and energy of the proton beam in February, from 40keV to 5MeV, which is the requirement for this module.
Further progress in the completion of the final stages of the manufacture of its first LIGHT system will continue throughout 2017 and the first LIGHT system is expected to be capable of treating superficial tumours in Q3 2018.
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To maximise progress of the LIGHT system, the Company will have two testing facilities in Geneva, Switzerland and at Thales' facilities in Vélizy, France. Additional key development milestones are included in the table further below.
Commercial opportunities & Regulatory
The Harley Street site remains the first site where the LIGHT system will be installed. Discussions are also ongoing surrounding an agreement to supply a LIGHT system alongside Circle Health's planned new-build hospital in Birmingham.
The Company is in negotiations with a handful of sites in the USA as well as other operators in Europe, Asia and the Middle East. The Company remains confident that demand for its next-generation proton therapy system will be strong and that additional commercial sales will be secured in due course.
In addition, a number of meetings have been held with regulatory bodies in Europe, US and China, which provides the Company with confidence that they are pursuing a valid path to ensure future regulatory approvals.
A summary of key technical milestones is provided below:
By end Q2 2017
• Delivery of all CCL units
• Beam fired through RFQ
By end Q4 2017
• Beam through SCDTLs at an energy of 20-25MeV
• Development of the Patient Positioning System
By end Q2 2018
• Beam fired through the first CCL
• Directional dose delivery system (or Nozzle) ready for installation
By end Q3 2018
• Beam capable of treating superficial tumours
The slides that will be used in the presentations will be available on the Company website: http://www.advancedoncotherapy.com/Investors/Results-reports-and-presentations
Anyone wishing to attend the investor presentations, and have yet to do so, should contact Walbrook PR on 020 7933 8780 or email avo@walbrookpr.com.
