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Advanced Oncotherapy (AVO) – Appointment of Non-Executive Directors

 

Advanced Oncotherapy (AVO), the developer of next-generation proton therapy systems for cancer treatment, announces the appointment of Professor Steve Myers OBE and Mr Hans von Celsing as Non-Executive Directors with immediate effect. In addition, Mr von Celsing will become Senior Independent Non-Executive Director. Professor Myers’ appointment follows the announcement of the Company’s intention to do so, on 1 November 2016.

At the same time, Tim Lebus, Non-Executive Director, will stand down with immediate effect.

Professor Steve Myers

Professor Myers has been part of the Advanced Oncotherapy Leadership Team since his appointment as Executive Chairman of the Company’s fully owned subsidiary ADAM S.A., in November 2015. Before joining Advanced Oncotherapy, Professor Myers was Head of Medical Applications at CERN in Geneva and before that, was Director of Accelerators and Technology at CERN. There, he was responsible for the operation and exploitation of the whole accelerator complex, with particular emphasis on the Large Hadron Collider (“LHC”) and the development of new projects and technologies.

He is a Fellow of the Royal Academy of Engineering, the Institute of Physics, the European Physical Society and International Fellow of the American Physical Society. He is internationally recognised for his engineering contributions and leadership in the development of CERN’s particle colliders over the past 40 years, including the Intersecting Storage Ring Accelerator, the Large Electron-Positron collider and the LHC.

Professor Myers has been awarded a number of international prizes including the EPS Edison Volta Prize and the Prince of Asturias Prize of Spain. He was awarded an OBE in 2013 for services to science and technology. Professor Myers holds a number of honorary degrees and advisory positions and is Chair of the Advisory Committees of both the John Adams Accelerator Institute in Oxford and the Cockcroft Accelerator Institute. He has published over 300 scientific papers.

Mr Hans von Celsing

Mr von Celsing was an Adviser to Mevion Medical Systems for eight years and supported their international expansion in Europe and Asia. Mr von Celsing also joined Elekta, as Executive Vice President, in its early stages in 1985. Elekta, a publicly quoted, Swedish medical technology group, is the leading supplier of equipment instrumentation and information systems for use in neuroscience, cancer care and oncology management. Both Elekta and Mevion are active in the Radiation Oncology Technology market.

Mr von Celsing has held a number of Board level roles throughout his career, and has particular expertise in the areas of life sciences, medical devices and diagnostics. Mr von Celsing is currently Chairman of Clinical Laser Thermia Systems, a public quoted medical technology company in Lund, Sweden. He is also Chairman of Gelexir Healthcare Ltd, a medical technology company based in Manchester, Chairman of Partner Fondkommission, an independent investment banking company based in Gothenburg, Sweden, and Chairman of Peptonic Medical, a publicly quoted biopharmaceutical company in Stockholm.

Mr von Celsing’s considerable experience in the growth of radiation therapy companies and in corporate governance makes him ideally placed to join Advanced Oncotherapy as Senior Independent Non-Executive Director.

Commenting, Michael Sinclair, Executive Chairman of Advanced Oncotherapy said: “Steve and Hans are hugely experienced in their respective fields. Steve’s background at CERN and his work with accelerator technology and the medical application of this technology have been invaluable to the business since he joined us in 2015. Hans has a wealth of knowledge in the sector and his CV speaks for itself in terms of his experience at Board level. We are looking forward to having him join us and the value he will no doubt add to the team.

“Finally, I would like to thank Tim Lebus for his immense contribution to the Board over the last three and a half years. Tim’s experience in private equity and banking has been incredibly helpful as the company has progressed and we are very grateful for his guidance and we wish him well for the future.” 

Commenting, Hans von Celsing, said: “I am honoured to be asked to join the Advanced Oncotherapy Board as Senior Independent Non-Executive Director. The Company’s technology is truly amazing and promises to shape the next generation of radiation therapy equipment. What really impresses me is the quality of the team, the deep technical knowledge they have and the Company’s collaboration with CERN, the preeminent particle physics institute.  The foundation is there for a great commercial success story in the medical technology field.” 

Information to be disclosed under Schedule 2(g) and Rule 17 of the AIM rules

Professor Steve Myers (aged 70), currently owns 50,569 shares in Advanced Oncotherapy

Current Directorships Directorships in the last five years
ADAM S.A. European Organisation for Nuclear Research (CERN)

Mr Hans Henrik von Celsing (aged 66)

Current Directorships Directorships in the last five years
Clinical Laser Thermia Systems AB Sonowand A/S
Gelexir Healthcare Ltd BiOxyDyn Ltd
Partner Fondkommission
Peptonic Medical Ltd

Mr von Celsing holds no ordinary shares of the Company and holds share options over 200,000 ordinary shares at an exercise price of 250p.

Other than the information contained in this announcement, there is no further information required to be disclosed under Rule 17 and Schedule Two, paragraph (g) of the AIM Rules.

For further information, please contact:

Advanced Oncotherapy plc www.avoplc.com
Nicolas Serandour, Chief Executive Officer Tel: +44 20 3617 8728
Michael Sinclair, Executive Chairman
Stockdale Securities (Nomad & Joint Broker) Tel: +44 20 7601 6100
Antonio Bossi / David Coaten
Stifel Nicolaus Europe (Joint Broker) Tel: +44 20 7710 7600
Jonathan Senior / Ben Maddison
Walbrook PR (Financial PR & IR) Tel: +44 20 7933 8780 or avo@walbrookpr.com
Paul McManus Mob: +44 7980 541 893
Anna Dunphy Mob: +44 7876 741 001

About Advanced Oncotherapy plc www.avoplc.com 

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. Advanced Oncotherapy’s team “ADAM”, based in Geneva, focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit that is a quarter of the size and between a quarter and a fifth of the cost. This compact configuration delivers proton beams in a way that facilitates greater precision and electronic control which is not achievable with older technologies. 

Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects. 

Advanced Oncotherapy continually monitors the market for any emerging improvements in delivering proton therapy and actively seeks working relationships with providers of these innovative technologies. Through these relationships, the Company will remain the prime provider of an innovative and cost-effective system for particle therapy with protons.

 

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