Hardman & Co Research on Advanced Oncotherapy:

Understanding the significance of 230MeV

AVO’s goal is to deliver an affordable and novel PT system, called LIGHT, based on state-of-the-art technology, developed originally at the world-renowned CERN. The complex assembly of the first LIGHT accelerator in Daresbury (UK) has been completed and demonstrated to generate a full-energy proton beam (230MeV) required to treat deep-seated tumours. AVO is now liaising with its clinical partner, University Hospitals Birmingham (UHB) NHS Foundation Trust, to prepare for first-patient treatments in 2H’23. Following this significant project de-risking, our updated LIGHT model shows that AVO could become EBITDA-positive in 2025.

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.