Advanced Oncotherapy, the developer of next generation proton therapy systems for cancer treatment, has secured a flexible and staged €30.9 million financing agreement with Bracknor Investment Group, a Dubai-based investment firm.
According to agreement, the Company can issue a minimum of €15,4 million in convertible loan notes (Minimum Requirement), in tranches of €1.5 million each, up to a maximum, at the Company’s sole discretion, of £30.9 million over the next 24 months.
Proceeds from the Agreement will be allocated to the Company’s projects, including the cost of installing the first LIGHT system at Harley Street, the funding of the Company’s pipeline and for general working capital purposes.