September 29, 2013

ProNova installs first SC360 gantry in Provision Center for Proton Therapy

MedicalPhysicsWeb

23 September 2013 – During the last week of August, multiple components of the ProNova SC360 superconducting light weight gantry were lowered into the fourth vault of the Provision Center for Proton Therapy, located in Knoxville, Tennessee. Designed to be rapidly assembled and shipped using standard shipping methods, the SC360 gantry was installed in record time. Full rotational testing was started less than two weeks after delivery on September 6.

The ProNova SC360 gantry is a full functional gantry with 360 degrees of rotation and the lightest proton gantry on the market. The patent pending gantry bearing enables the treatment isocenter to be cantilevered into the treatment room and accessible by both staff and auxiliary imaging. The gantry and magnet assembly is one-third the weight of other 360 degree capable gantries and operates at one-half the power. The ProNova SC360 gantry is designed to accuracies of ± .5mm at isocenter.

“We are happy to see that our unique system designs are delivering,” said Joe Matteo, ProNova President of R&D. “From paper to reality in 12 months, this further demonstrates ProNova’s capabilities and aggressive desire to lower the cost and size barriers to proton therapy for many more providers.”

Recently the Workshop on Ion Beam Therapy sponsored by NIH, NCI and the Department of Energy released a report describing the need for superconducting technology that would allow the advancement of proton therapy and the development of the next generation of Particle Therapy. ‘Superconducting magnet technology could greatly reduce the size of gantries, and is expected to play a role in the next generation of gantry designs. There is an opportunity for R&D, including prototyping, to explore the possibility that one or more of these gantry concepts could lead to a more functional and less expensive ion beam therapy facility.’ The ProNova SC360 uses patent pending superconducting magnet technology in the first full-function superconducting particle therapy gantry to lower the weight and shrink the depth of the gantry and is fully designed and manufactured in the USA. ProNova will apply for FDA clearance for the SC360 and expects first patient treatments to commence in 2015.

About ProNova
ProNova is committed to making proton therapy accessible to a greater number of patients and physicians worldwide. Founded by the leaders of CTI Molecular Imaging, ProNova’s team brought positron emission tomography (PET) technology out of the laboratory and made it a clinical reality for millions of cancer patients. Our team's early work revolutionized cancer diagnostics and helped to develop an industry with over 350 cyclotrons, more than 3,000 PET & PET/CT systems and 160 PET radiopharmaceutical distribution centers installed around the world today. The same team will redefine cancer treatment once again with the introduction of the SC360 proton therapy system.
©

September 26, 2013

ProNova achieves key milestones for compact proton therapy system


22 September 2013 – Recent tests of unique superconducting magnet elements, being developed by ProNova Solutions, LLC, have resulted in achieving full field for the new 230MeV compact proton therapy system. The ProNova SC360 utilizes patent pending superconducting achromats to enable rapid energy changes without rapid ramping of the superconducting elements.

“These test results are very exciting,” said Joe Matteo, President of ProNova R&D, “this breakthrough will allow us to push forward with finalizing the manufacturing design of the SC360 and help lower the overwhelming cost of proton therapy.”

ProNova’s light weight superconducting magnet design enables enhanced features in their compact gantry such as 360 degrees of treatment rotation, unprecedented patient access during setup and the ability to add advanced imaging in all treatment positions without moving the patient.

ProNova is working together with Cryomagnetics, Inc in Oak Ridge, Tennessee to finalize this development of a compact energy efficient superconducting achromat. Superconducting magnets are the key enabling technology that allows ProNova to design and manufacture a significantly lighter gantry with additional features not possible with other more limited systems. The gantry will weigh in at a total of 25 tons, one-third the weight of today’s full-featured proton therapy gantries. The total power consumption will peak at 115 kW, about half of the power consumption of next generation competitive systems. ProNova plans to treat patients on the first ever superconducting proton therapy gantry in 2015.

In addition to the superconducting achromat development, ProNova continues to conduct beam scanning tests of their Compact Combined Function Scanning Magnet at Indiana University. In an earlier announcement by the company, ProNova has a collaborative agreement with Indiana University to develop and test their proton therapy scanning system. The scanning magnet, power, and control system have been installed and the system is currently undergoing optimization for both Uniform Beam Scanning and Pencil Beam Scanning.

In parallel to the scanning system, the full energy selection system and micro-stepping degrader are also fully operational at Indiana University (IU). This relationship has proven to be invaluable, allowing ProNova to quickly develop, test, and bring to market this advanced beam delivery system and IU has the opportunity to use their many years of proton experience to influence ProNova’s next generation system.

Over the next several months, ProNova will integrate the beam delivery system with the gantry and cyclotron at the Provision Center for Proton Therapy in Knoxville, Tennessee. Data will then be collected for FDA clearance with a planned clearance and first patient treatment in 2015.

About ProNova
ProNova is committed to making proton therapy accessible to a greater number of patients and physicians worldwide. Founded by the leaders of CTI Molecular Imaging, ProNova’s team brought positron emission tomography (PET) technology out of the laboratory and made it a clinical reality for millions of cancer patients. Our team's early work revolutionized cancer diagnostics and helped to develop an industry with over 350 cyclotrons, more than 3,000 PET & PET/CT systems and 160 PET radiopharmaceutical distribution centers installed around the world today. The same team will redefine cancer treatment once again with the introduction of the SC360 proton therapy system.
©

September 25, 2013

Completion of acquisition of ADAM by AVO

Further to the announcement issued on 24 April 2013, Advanced Oncotherapy (AIM: AVO) is pleased to announce that it has completed the acquisition of the entire issued share capital of ADAM S.A. ("ADAM") for a consideration to the vendor of stock and warrants in Advanced Oncotherapy.

Advanced Oncotherapy completed the purchase of ADAM which firmly establishes the Group as the most cost effective provider of 3 room treatment centres in a growing world market of proton therapy, which is expected to treble by 2018* .

* MEDraysintell, Proton Therapy World Market Report Edition 2013

The Group’s new equipment called Linac Image Guided Hadron Technology – or LIGHT, the next generation of proton beam therapy, and has an order pipeline at £200+ million and an anticipated net profit margin of 10% on this future revenue stream.

Staged milestone payments from purchasers of LIGHT equipment will significantly impact the Group’s cash flow.

Since announcing the proposed acquisition, Advanced Oncotherapy has signed agreements to provide eight LIGHT machines – the next generation of proton beam therapy - to locations in the UK and the USA. The order pipeline now stands at over £200 million with a projected net profit margin of 10% on this future revenue. The current plan is to deliver the first LIGHT equipment in Q4 2016/Q1 2017. Revenues from these projects are expected to be received by the Company throughout 2017 and 2018. Milestone related payments from sales are anticipated to make significant contributions towards cash flow.

The original acquisition agreement was subject to the completion of financing by Advanced Oncotherapy (“Financing Condition”). However, the market response to LIGHT - the next generation of proton beam therapy - has resulted in the Company reassessing its overall financing plans. A number of new and attractive financing options have been presented, including the provision of scientific grants, and the Board hopes to finalise this process and report to shareholders during Q1/Q2 2014.

As part of the process of accelerating the completion of the ADAM acquisition, BRAHMA AG (“BRAHMA”), the current owner of ADAM, has waived the Financing Condition in the purchase contract. BRAHMA is being issued with 171,072,801 new ordinary shares of 1p each in the Company (“Ordinary Shares”) representing 29.9% of the enlarged share capital of the Company. BRAHMA is also being issued with 51,112,650 new warrants representing 29.9% of the enlarged number of warrants in issue on the following basis:

End date Exercise price (£) Total

27/10/2013 0.150 11,374,227

21/12/2014 0.045 1,706,134

21/12/2014 0.060 1,706,134

31/07/2015 0.011 34,122,682 10/12/2016 0.050 70,805

25/09/2017 0.010 2,132,668

Application will be made for the new Ordinary Shares, which on admission will rank pari passu with the existing issued Ordinary Shares, to be admitted to AIM, which is expected to take place on 1 October 2013.

When the financing mentioned above has been completed as anticipated, in Q1/Q2 2014, BRAHMA will be issued with additional Advanced Oncotherapy shares to provide it with a maximum 25.1% shareholding in the enlarged share capital of the Company.

Alberto Colussi, Chairman of ADAM, said: "I am very satisfied to see that the research efforts of ADAM have found strong hands to take them forward to market, so we can bring this great technology to patients. I must thank the management of CERN for their on-going support and collaboration with ADAM."

Advanced Oncotherapy’s CEO, Dr Mike Sinclair, said, “We believed from the start that the distinctive combination of our hands-on commercial experience in healthcare and ADAM’s precision technology could bring significant rewards to both patients and investors. To date, our skill in bringing this disruptive technology to progressive and growing markets has made the business case even stronger. I am delighted that we have been able to complete this acquisition and we look forward to welcoming Niccolo Colussi and Luca Campaiola from ADAM to our Board shortly.”

Related Files: 2013 09 25 ADAM Completion FINAL sj

©