Advanced Oncotherapy gets planning permission for Harley St site

AIM-listed Advanced Oncotherapy has been granted planning permission by Westminster Council for a proton beam facility on Harley Street.

The company, which develops next-generation proton therapy systems for cancer treatment, said the facility will make an important contribution to the advancement of next generation radiotherapy in the UK, and “add even further lustre to the international reputation of the Howard de Walden Estate and the Harley Street Medical Area”.

Chief executive officer Dr Michael Sinclair said: “Now that we are in a position to continue with the development, our partner, Howard de Walden Estates, plans to start work on the site as soon as possible.”

Last Friday, the group announced plans to raise around £4m by way of an open offer of just over 4m shares at 100p each, which is a discount of around 3.4% to the closing price on 13 October.

At 1000 BST, the shares were up 1.9% to 117.15p.