Advanced Oncotherapy in £24 million investment agreement

Metric Capital will invest the money in a financing facility to support Advanced Oncotherapy's provision of vendor financing for the installation of its first LIGHT machine at its London Proton Therapy Centre in Harley Street.

Advanced Oncotherapy is a developer of next-generation proton therapy systems for cancer treatment.

Of the £24m, £11m would be received shortly following signing, and the second tranche of £13m would be available for draw-down on completion of a £25m cash or capital injection to fund the development of a manufacturing base.

Should these milestones not be achieved by end-March 2017, the initial £11m tranche would become repayable by September 2017.