Cancer therapy systems developer Advanced Oncotherapy has promoted its chief financial officer to chief executive with immediate effect.
CFO Nicolas Serandour (pictured), who is also the chief operating officer, will succeed current boss and executive chairman Michael Sinclair. Sinclair will remain as chairman.
Serandour, who joined as CFO in September 2014, took on the additional role of COO earlier this year.
Sinclair said the finance chief was “the natural choice to lead the company on the next phase of this journey”. He added that Serandour had “a solid understanding of the operational challenges involved with the development of our first LIGHT machine as well as our ground-breaking undertaking at Harley Street”.
Thales partnership, and further development
Advanced Oncotherapy has now been granted planning permission for the Harley Street site and the ongoing industrialisation partnership with Thales, and the AIM-listed company is now at a stage where it needs to set out its plans for advancement beyond the technological readiness of its first LIGHT system.
Advanced Oncotherapy is developing the next generation of particle treatment, which uses protons and pinpoints tumours more precisely, potentially offering many patients higher disease-free survival rates. The company is also developing a proton therapy system which is much smaller and significantly less expensive than machines currently on the market.
On his promotion Nicolas Serandour, said: “It is my intention to spend the first 100 days in my role as CEO assessing and implementing new initiatives, such as the partnership with Thales, to allow us to sharpen our execution and commercial focus with the support of our partners.”
The UK combined code on corporate governance states that the roles of CEO and chairman should not be held by the same individual, with a clear division of responsibilities set out in writing.