Quality, Affordable and Accessible

Updates on Proton Therapy

The following three updates were made on November 26th 2016, January 24th 2017 and February 7th 2017.

TERMINATION OF DISTRIBUTION AGREEMENT AND TWO PURCHASE AGREEMENTS WITH ADVANCED ONCOTHERAPY PLC

February 7, 2017.

Further to the announcement on January 24th, 2017, confirming the termination of the Purchase Agreements dated March 24th 2015 for Huai’An and October 20th 2015 for Changchun there have been additional discussions between the parties, which have led to an Agreement dated February 3rd 2017 between Sinophi Healthcare and Advanced Oncotherapy plc, in which the Distribution Agreement, pursuant to which Sinophi Healthcare represented Advanced Oncotherapy plc in the People’s Republic of China and SE Asia, has been terminated.

TERMINATION OF SALE AND PURCHASE AGREEMENTS WITH ADVANCED ONCOTHERAPY PLC

January 24, 2017.

Sinophi Healthcare has terminated the Sale & Purchase Agreements for proton therapy systems with Advanced Oncotherapy plc dated March 24th 2015 for Huai’An and October 20th 2015 for Changchun, by way of termination notices, as provided for in both agreements, dated 20 January 2017.

UPDATE ON PROTON THERAPY PROJECTS

November 26, 2016

In early November 2016, Sinophi Healthcare’s two project cooperations with China-Japan Union Hospital of Jilin University and Huai’An First People’s Hospital to install Advanced Oncotherapy LIGHT proton therapy machines were terminated due to delays in the proton therapy machine delivery schedules.  Sinophi is not looking for other sites for these machines in either Changchun or Huai’An and will look elsewhere.

As a result, Sinophi does not expect there to be any progress with the four Framework Agreements with Chinese hospitals signed in 2015 to use and install Advanced Oncotherapy LIGHT proton therapy machines until such time as Advanced Oncotherapy  has a working prototype capable of commercialization.  As this is a new technology, still in the research and development stage, we are unable to predict when this will be achieved.