DJ Advanced Oncotherapy (AVO-GB): Key talent acquisition reaffirms the promise of LIGHT
Dow Jones received a payment from EQS/DGAP to publish this press release.
goetzpartners securities Limited
Advanced Oncotherapy (AVO-GB): Key talent acquisition reaffirms the promise of
LIGHT
16-Apr-2019 / 09:11 GMT/BST
*Free to access research and investor meetings in a post-MiFID2 world.*
*This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.*
*Published to the market and investors on 16th April 2019 @ 7.03am (BST).*
*Advanced Oncotherapy Plc *
*Recommendation: OUTPERFORM*
*Target Price: GBP1.55*
*Current Price: 39.50p (CoB on 15th April 2019) *
*KEY TAKEAWAY*
Advanced Oncotherapy ("AVO"), the developer of the LIGHT linear proton
accelerator for the treatment of cancer patients, today announced the
appointment of Moataz Karmalawy as Chief Commercial Officer. Joining from
Varian Medical Systems, a major competitor, his appointment once again
confirms the promise of AVO's proton therapy proposition; demonstrating that
the company has reached an inflection point and is well on its way to
commercialisation. Overall, the addition of Mr Karmalawy further strengthens
AVO's robust management team which includes veterans of the PT industry from
science, engineering, installation, application experience and compliance. We
reiterate both our OUTPERFORM recommendation and our target price ("TP") of
GBp 155.
*Commercialisation now within view*
The appointment of Mr Karmalawy as Chief Commercial Officer adds an
experienced industry veteran to AVO's management. With senior management
experience at industry heavyweights Philips Healthcare and Varian Medical
Systems, Mr Karmalawy brings on-board significant business operational
experience which will be vital in securing a successful commercialisation
roll-out for the LIGHT system. With the successful integration and subsequent
testing of the LIGHT system at 52MeV in late 2018, the LIGHT project was
significantly de risked with several further developmental milestones expected
in 2019E. The company expects to reach therapeutically-relevant energy levels
of 250MeV by YE2019. His appointment marks another promising step in AVO's
execution plan as the appointment of such a prominent hire indicates a
paradigm shift from a focus on developing the platform to marketing and
commercialisation.
*Proven success in the commercialisation of particle therapy systems*
Having joined Varian in 2007, Mr Karmalawy has been an integral part of the
Varian particle therapy business for the last 12 years, overseeing the growth
of the division. As General Manager, World Wide Particle Therapy Treatment, he
has experience across all aspects of the particle therapy business including
business development, supply chain management and M&A activities. Mr Karmalawy
also brings a history of successful commercialisation exercises in America,
which represents a key target market for AVO that has remained largely under
penetrated.
*Top calibre management to drive commercial success*
AVO's management team consists of high calibre industry veterans, from across
science, engineering, installation, application experience and compliance. We
feel that the successful industrialisation of LIGHT will be grounded in
experience of top professionals like Prof. Stephen Myers, Ed Lee, Dr. Jonathan
Farr and Dr. Michel Baelen, supported by a team that has the right credentials
to implement an attractive funding and execution strategy such as Dr. Mike
Sinclair and Nicolas Serandour.
With the development timeline on schedule and first patients due to be treated
in H2/2020E, we believe that AVO offers strong upside potential coinciding
with successful early stage roll-out of the LIGHT system. We reiterate both
our OUTPERFORM recommendation and our TP GBp 155.
Kind regards,
Martin Piehlmeier | Analyst
Kieron Banerjee | Analyst Trainee
goetzpartners Healthcare Research Team | Research Team
goetzpartners securities Limited
The Stanley Building, 7 Pancras Square, London, N1C 4AG, England, UK.
T +44 (0) 203 859 7725 | T +44 (0) 203 859 7728 |
martin.piehlmeier@goetzpartners.com / kieron.banerjee@goetzpartners.com /
healthcareresearch@goetzpartners.com
www.goetzpartnerssecurities.com [1]
goetzpartners securities LinkedIn page [2]
Registered in England No. 04684144.
Managing Directors: Dr Stephan Goetz, Martin Brunninger and Ulrich Kinzel.
*goetzpartners securities Limited - Team Members*
Equity Research Analysts - Martin Brunninger, Brigitte de Lima, Chris Redhead,
Martin Piehlmeier and Kieron Banerjee.
Sales / Marketing - Erland Sternby.
Corporate Finance - Ulrich Kinzel, Wolf Dornbusch and Youchen Xin.
Corporate Access and IR - Tanya Tracey and Bettina Ellinghorst.
Compliance / Research Production - Paul W. Dunne.
Click here [3] to see our privacy policy.
GPSL has a formal client relationship with Advanced Oncotherapy Plc.
GPSL publishes and distributes "Investment" Research and "Corporate Sponsored"
Research. Our Corporate Sponsored Research and investor meetings (e.g. NDRs, 1
to 1 meetings) are free to access and attend and is not classified as an
inducement in a post-MiFID2 world, this is because the issuer is paying GPSL.
GPSL does not offer any execution or market making services. This is a
marketing communication as defined by the Financial Conduct Authority ("FCA").
The information herein is considered to be an acceptable minor non-monetary
benefit as defined under FCA COBS 2.3A19(5).
In accordance with the General Data Protection Regulation ("GDPR [4]") - if
you would like to be removed / unsubscribed from our CRM (also please note
that you are free to contact GPSL at any time in the future to have your
e-mail subscription amended), please e-mail:
researchproduction@goetzpartners.com
About GPSL [1]: goetzpartners securities Limited is a member of the
goetzpartners group, and a leading pan European investment bank and research
company. We bring together a wide range of expertise, insights and innovations
to advance the interests of our clients around the world. The fast-changing
environment brings challenges for businesses and investors. Research
innovation, digital transformation and disruptive business ideas reshuffle the
corporate world at a relentless pace. Our sector knowledge and our global
footprint bring together corporate intelligence and a deep understanding of
the industry with a wide network of top decision makers. These collective
insights help our clients to stay at the leading edge of change.
This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.
This communication (including any attachments) from goetzpartners securities
Limited ("GPSL") is confidential and may contain information which is
proprietary, privileged or otherwise legally protected against unauthorised
use or disclosure. If you receive this communication in error or are not the
intended recipient of this communication, please delete and destroy all copies
in your possession, notify the sender that you have received this
communication, and note that any review or dissemination of, or the taking of
any action in reliance on this communication is expressly prohibited. GPSL
shall not be liable for the improper or incomplete transmission of the
information contained in this communication nor for any delay in its receipt
or damage to your system. GPSL does not guarantee that the integrity of this
communication has been maintained nor that this communication is free of
viruses, interceptions or interference and makes no warranties in relation to
these matters. This is not an offer or a solicitation to buy or sell
securities or investment products, or an official confirmation. GPSL record
electronic and phone communications in accordance with FCA and MiFID2
regulations, they will be monitored for regulatory and training purposes. GPSL
[5] is authorised and regulated by the Financial Conduct Authority of the
United Kingdom (Firm Reference Number: 225563).
Click on the following link for the GPSL MiFID2 Investor Guidance Notice [6]
GPSL Equity Research publications are available on the following aggregators
and via news distribution circuits (For Institutional Use Only): AlphaMetry
[7], AlphaSense, Bloomberg (GOET), Capital IQ, EQS, FACTSET, ResearchFN [8],
Research Tree [9], RNS Reach, Sentieo [10] and Thomson Reuters.
Please copy the below link and paste it into your browser for the full pdf
version of the equity research report:
https://gp.bluematrix.com/sellside/EmailDocViewer?encrypt=8fb16bbf-0f76-4d6f-8
b54-a78cd99ec200&mime=pdf&co=gp&id=paul.dunne@goetzpartners.com&source=library
View [11]
*Free to access research and investor meetings in a post-MiFID2 world.*
*This research report is intended for use only by persons who qualify as
professional investors or eligible counterparties (institutional investors) in
the applicable jurisdiction, and not by any private individuals or other
persons who qualify as retail clients.*
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
800497 16-Apr-2019
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=750ca54579c5d5447638f7f35718f4d1&application_id=800497&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4e235136b3fff70f6e9b300faf1356df&application_id=800497&site_id=vwd&application_name=news
3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e4cf3d45df1d07e4e36e54790266d6f1&application_id=800497&site_id=vwd&application_name=news
(MORE TO FOLLOW) Dow Jones Newswires
April 16, 2019 04:11 ET (08:11 GMT)
4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105c239b1a4ab584252dd4cb0ab60fcc&application_id=800497&site_id=vwd&application_name=news 5: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ba4d174d6cc17a15461e9920a97cb6e6&application_id=800497&site_id=vwd&application_name=news 6: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3a7dca011f706488817dc0ced9cb1594&application_id=800497&site_id=vwd&application_name=news 7: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=74ec96f086effd6902b227645be3904c&application_id=800497&site_id=vwd&application_name=news 8: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=4ca72a1f25bfe4e057f55b4178d31406&application_id=800497&site_id=vwd&application_name=news 9: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e6502ecec4e43c9ec21d32670b12b227&application_id=800497&site_id=vwd&application_name=news 10: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e3895772493fb088c9401b3187f667a7&application_id=800497&site_id=vwd&application_name=news 11: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b270922b0a1130817d0c933382b92564&application_id=800497&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 16, 2019 04:11 ET (08:11 GMT)
