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Advanced Oncotherapy PLC to Acquire ADAM S.A.


Wednesday, 24 Apr 2013 02:01am EDT 

Advanced Oncotherapy PLC announced that the Company has signed a definitive share purchase agreement for the acquisition of 100% of the share capital of ADAM S.A. (ADAM) for a consideration to the vendor of stock and warrants in Advanced Oncotherapy that will be equivalent to 29.9% of the issued ordinary share capital and warrants of the Company prior to the completion of the transaction. Completion of the acquisition of ADAM will take place upon the closing of financing by Advanced Oncotherapy which will, inter alia, fund the completion of the development of ADAM's proprietary Linear Accelerator based Proton Beam Therapy technology referred to above. This financing is currently expected to close within the next 90 days. ADAM SA was founded in 2007 as a CERN spin-off company to promote scientific know-how and innovations in medical technology for cancer therapy. 

Company Quote

3.4
0.025 +0.71%
4:08am EDT