- Proton therapy system developer Advanced Oncotherapy said Friday it planned to raise £10m through the placement of shares.

The company intended to issue 25,000,000 new ordinary shares at a price of 40p per share raising £10.0m for which it had received firm commitments from new and existing investors. The price represented a premium of 11% to the closing share price on 19 December 2018.

The company intended to use the proceeds of the for general working capital purposes and for software development and costs relating to the new testing and assembly site currently underway at the UK Government's Science and Technology Facilities Council in Daresbury.

At 9:14am: [LON:AVO] Advanced Oncotherapy PLC share price was +2p at 37.5p

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