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Advanced Oncotherapy

  • BY: Andrew Hore |
  • POSTED: 10/07/2013 |

Radiotherapy services provider Advanced Oncotherapy has raised £500,000 at 3p a share, which was an 85% premium to the previous day’s closing price.

Two investors, one from Switzerland and one from the UK, subscribed for the new shares. The share price rose 0.3p to 1.93p, which values the existing share capital at £7.74m. At the end of June, Advanced Oncotherapy raised £500,000 at 2p a share. Net debt was £3.75m at the end of 2012, including a loan where the covenant has been breached.

The company owns 28.75% of therapy centres operator Advanced Proton Solutions, 90% of mobile services provider Oncotherapy Resources and it is acquiring 100% of ADAM (Application of Detectors and Accelerators to Medicine) in return for 29.9% of Advanced Oncotherapy. All these businesses are based around the use of proton beam technology for treating cancer. According to the company: “Proton therapy destroys tumours with greater precision and control than other radiation therapies, resulting in less damage to surrounding healthy tissue and organs”.

Advanced Oncotherapy was previously known as CareCapital and it has sold its medical properties business.

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