Radiotherapy services provider Advanced Oncotherapy plans to collaborate with the State University of New York (SUNY) on a number of activities, including a three-room proton therapy facility.
The collaboration takes advantage of the StartUp NY programme, which eliminates state tax for both corporations and employees for ten years. The facility will be on the campus in Syracuse, New York. The proton technology will be used for academic research as well as cancer treatment.
The proton equipment is based on LIGHT - Linac Image Guided Hadron Technology. LIGHT is a direct medical application of high energy particle physics research by ADAM, a spin-off company from CERN (home of the Large Hadron Collider) in Geneva, Switzerland, which Advanced Oncotherapy is in the process of acquiring.
The agreement with SUNY takes Advanced Oncotherapy into the US market and it will help to gain FDA approval for the equipment.
At 2.98p a share, Advanced Oncotherapy is valued at £12m.
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