Advanced Oncotherapy

Advanced Oncotherapy PLC (AVO) was a UK-based medical technology company focused on developing a more affordable and precise proton therapy system for cancer treatment called LIGHT (Linac Image Guided Hadron Technology). Founded in 1994 and formerly known as CareCapital Group plc, the company rebranded in 2012 to reflect its focus on oncology. The company entered administration in May 2024.

The development of the LIGHT system was the culmination of over 25 years of research originating from CERN, the European Organization for Nuclear Research. The technology was further developed by ADAM S.A., a CERN spin-off and AVO's subsidiary in Geneva. Unlike conventional proton therapy systems that use cyclotrons, LIGHT employed a linear accelerator. This design was intended to offer significant advantages, including a smaller physical footprint, lower installation and operational costs, and greater precision in targeting tumors by allowing the proton beam's energy to be modulated electronically 200 times per second. This capability aimed to maximize damage to cancerous cells while minimizing harm to surrounding healthy tissue. The system was designed to be modular, offering healthcare providers more flexibility and significantly reducing upfront capital expenditure.

Nicolas Serandour, who served as CEO, brought extensive experience from the investment banking sector, with a focus on healthcare at firms like JPMorgan, Lehman Brothers, and Lazard. His interest in the field was partly inspired by his father, a physiotherapist, which instilled in him a desire to alleviate patient suffering. He joined Advanced Oncotherapy after a visit to CERN revealed the potential of this new proton therapy technology.

The company's business model involved the sale of LIGHT systems, long-term maintenance contracts, and partnerships with healthcare providers, sometimes including profit-sharing arrangements. Advanced Oncotherapy had established partnerships with institutions like The London Clinic and University Hospital Birmingham. However, the company faced significant financial challenges. Despite achieving a major technical milestone by successfully accelerating a proton beam to the 230MeV energy level required for treating deep-seated tumors, it struggled to secure necessary funding. A significant sale of shares by its largest shareholder created investor uncertainty, leading to a drop in share price and the withdrawal of committed funding. After numerous financing delays and recapitalization efforts failed to materialize, the company's shares were suspended from trading, and it was ultimately placed into administration on May 30, 2024, with its assets being marketed for sale.

Keywords: proton therapy, cancer treatment, linear accelerator, oncology, medical device, CERN technology, radiation therapy, hadron therapy, LIGHT system, ADAM S.A., advanced radiotherapy, targeted therapy, particle therapy, medical technology, oncology innovation, cancer research, Nicolas Serandour, healthcare equipment, radiotherapy systems, cancer therapy technology