Advanced Oncotherapy hails financing agreement it hopes will help 'democratise' its proton beam technology

Advanced Oncotherapy PLC (LON:AVO) has entered into a financing agreement that is designed to ensure its cancer therapy is more widely available as it looks to ‘democratise’ the proton beam treatment. A deal with vendor financing specialist DiaMedCare covering projects in Europe and the US will provide smaller clinics with the option of acquiring the technology on flexible terms. DiaMedCare will acquire AVO’s LIGHT systems and lease them back to customers that are commissioning the new compact LIGHT systems. It will also be able to bridge manufacturing costs until delivery to customers, Advanced Oncotherapy added. "The modularity of the LIGHT system allows Advanced Oncotherapy to offer its customers this unique financing opportunity and enable wider access to the LIGHT system,” said Advanced Oncotherapy chief executive Nicolas Serandour in. statement. “We believe this partnership will significantly increase our pipeline of sales opportunities and democratise proton beam therapy." The company has created a smaller and more affordable proton therapy technology than that currently on the market. The major plus point of this new approach is that it can pinpoint tumours more precisely than radiotherapy, which means less damage to surrounding healthy tissues. However, proton therapy facilities have traditionally been pricey and large, requiring a space the size of a football pitch to run. Advanced Oncotherapy has solved this problem. The first instalment will be in the basement of a townhouse in Harley Street, central London. Its modular design, lighter-weight and better proton efficiency also help to keep costs down, which should open proton therapy up to many more patients.