Advanced Oncotherapy (GB:AVO) has released an update.
Advanced Oncotherapy, the developer of the next-generation LIGHT proton therapy system for cancer treatment, is in ongoing but delayed financing discussions, with an anticipated $15 million initial tranche expected by the end of May 2024. Despite progress, there is no certainty of this funding, which is crucial for the company’s solvency and continued trading, as its shares remain suspended on AIM. The proposed financing is also contingent on restructuring financial liabilities, shareholder approval, and consent from other stakeholders.
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