Macfarlanes advises Nerano Pharma on strategic funding partnership with Advanced Oncotherapy plc

03 July 2020

Macfarlanes has advised Nerano Pharma Limited on the provision of an interest-bearing secured convertible facility to Advanced Oncotherapy plc, an AIM-listed developer of next-generation proton therapy systems for cancer treatment.

Advanced Oncotherapy will use the funding to further develop and advance manufacturing of its LIGHT system. The facility is secured on the company’s LIGHT components being built in Daresbury and Geneva and associated intellectual property. Nerano Pharma will be entitled to a share of the profit generated by the company’s Harley Street centre for up to 15 years. In addition, Nerano Pharma has been granted 5 million warrants to subscribe for new ordinary shares in the company.

The Macfarlanes team was led by finance partner Chris Lawrence, with corporate advice from partner Tom Rose and senior counsel Mark Slade and commercial expertise from partner Malcolm Walton and solicitor Roisín Cregan.