Thor Medical and AdvanCell expand strategic supply agreement for Thorium-228
4 augusti, 07:30
4.8.2025 07:30:00 CEST | Thor Medical ASA | Inside information
Oslo, 4 August 2025: Thor Medical ASA, a leading emerging supplier of alpha-emitters for next-generation precision cancer treatment, has expanded its strategic master supply agreement with AdvanCell, a leading radiopharmaceutical company with an extensive clinical development program for innovative cancer therapies.
The new agreement effectively increases the supply of Thorium-228 to AdvanCell by 50% and the total purchasing commitment from NOK 100 million to NOK 150 million over five years. The increase is enabled by the decision to expand the capacity at the AlphaOne plant under construction by up to 40%, which will be financed with proceeds from the capital raise executed by Thor Medical earlier in June.
“We are working hard to increase capacity at AlphaOne, and it is great to be able to meet AdvanCell’s increasing demand as they progress their exciting clinical development programs, including the most advanced Lead-212 PSMA program,” says Jasper Kurth, CEO of Thor Medical.
Thor Medical and AdvanCell first entered into a strategic supply agreement in December 2024, following successful sample deliveries to AdvanCell from Thor Medical’s pilot plant at Herøya.
”Coincident with the rapid enrolment of our TheraPb Phase 1/2 trial investigating ADVC001 in our Lead-212 PSMA targeted prostate cancer clinical program – now at a pace of treating up to five patients a week at 200MBq doses – the scale up of our network of Pb-212 production is also accelerating”, said Andrew Adamovich, CEO of AdvanCell, continuing “Anticipating the imminent jump in Lead-212 demand for later stage clinical trials, and ultimately for commercial scale drug manufacturing, we turn to Thor Medical as a trusted partner with a similar drive to bring targeted alpha therapies to patients as quickly as possible. Our aim for ADVC001 is to be amongst the first PSMA-targeted alpha therapies approved for prostate cancer”.
AdvanCell has a broad pipeline of innovative cancer therapies based on Lead-212 and produces the isotope from precursor Thorium-228 via a proprietary Lead-212 generator-based manufacturing platform. Amongst other pipeline assets, the company has the most advanced Lead-212 PSMA for prostate cancer. It has a growing demand for Thorium-228 as it progresses its trial and the rest of its pipeline.
In February 2025, AdvanCell and Lilly announced a strategic collaboration, combining AdvanCell’s radionuclide expertise and development infrastructure with Lilly’s pharmaceutical and oncology expertise and global scale. This collaboration is intended to accelerate the advancement of an expanded portfolio of targeted alpha therapies, which in turn is expected to further increase demand for Thorium-228 as part of a reliable radionuclide value chain.
CONTACT
Thor Medical Brede Ellingsæter, CFO & COO, +47 472 38 440, brede.ellingseter@thormedical.com
ABOUT THOR MEDICAL ASA
Thor Medical is an emerging supplier of alpha particle emitters produced from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.
ABOUT ADVANCELL
AdvanCell is committed to developing innovative targeted alpha therapies that will change the course of cancer treatment. AdvanCell is the leading 212Pb-focused radiopharmaceutical company and recognised leader in the Targeted Alpha Therapy field. By combining advanced manufacturing capabilities with cutting-edge science and clinical development, AdvanCell aims to deliver novel treatments that enhance outcomes for cancer patients worldwide. For more information, visit www.advancell.com.au .
Recent news and articles relating to the TheraPb (NCT05720130) Phase 1b study with ADVC001 can be found here:
TheraPb Phase 1b abstract accepted for presentation at ESMO 2025
TheraPb highlighted in PSMA Theranostics session at SNMMI by investigator David Pattison - AdvanCell
IMPORTANT INFORMATION
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published by Brede Ellingsæter, CFO & COO, Thor Medical ASA, at the time and date stated above in this announcement. This release contains forward -looking information and statements relating to the business, performance, and matters that may impact the results of Thor Medical. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," "potential," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Thor Medical operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. This release is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company.
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Thor Medical and AdvanCell expand strategic supply agreement for Thorium-228
4 augusti, 07:30
4.8.2025 07:30:00 CEST | Thor Medical ASA | Inside information
Oslo, 4 August 2025: Thor Medical ASA, a leading emerging supplier of alpha-emitters for next-generation precision cancer treatment, has expanded its strategic master supply agreement with AdvanCell, a leading radiopharmaceutical company with an extensive clinical development program for innovative cancer therapies.
The new agreement effectively increases the supply of Thorium-228 to AdvanCell by 50% and the total purchasing commitment from NOK 100 million to NOK 150 million over five years. The increase is enabled by the decision to expand the capacity at the AlphaOne plant under construction by up to 40%, which will be financed with proceeds from the capital raise executed by Thor Medical earlier in June.
“We are working hard to increase capacity at AlphaOne, and it is great to be able to meet AdvanCell’s increasing demand as they progress their exciting clinical development programs, including the most advanced Lead-212 PSMA program,” says Jasper Kurth, CEO of Thor Medical.
Thor Medical and AdvanCell first entered into a strategic supply agreement in December 2024, following successful sample deliveries to AdvanCell from Thor Medical’s pilot plant at Herøya.
”Coincident with the rapid enrolment of our TheraPb Phase 1/2 trial investigating ADVC001 in our Lead-212 PSMA targeted prostate cancer clinical program – now at a pace of treating up to five patients a week at 200MBq doses – the scale up of our network of Pb-212 production is also accelerating”, said Andrew Adamovich, CEO of AdvanCell, continuing “Anticipating the imminent jump in Lead-212 demand for later stage clinical trials, and ultimately for commercial scale drug manufacturing, we turn to Thor Medical as a trusted partner with a similar drive to bring targeted alpha therapies to patients as quickly as possible. Our aim for ADVC001 is to be amongst the first PSMA-targeted alpha therapies approved for prostate cancer”.
AdvanCell has a broad pipeline of innovative cancer therapies based on Lead-212 and produces the isotope from precursor Thorium-228 via a proprietary Lead-212 generator-based manufacturing platform. Amongst other pipeline assets, the company has the most advanced Lead-212 PSMA for prostate cancer. It has a growing demand for Thorium-228 as it progresses its trial and the rest of its pipeline.
In February 2025, AdvanCell and Lilly announced a strategic collaboration, combining AdvanCell’s radionuclide expertise and development infrastructure with Lilly’s pharmaceutical and oncology expertise and global scale. This collaboration is intended to accelerate the advancement of an expanded portfolio of targeted alpha therapies, which in turn is expected to further increase demand for Thorium-228 as part of a reliable radionuclide value chain.
CONTACT
Thor Medical Brede Ellingsæter, CFO & COO, +47 472 38 440, brede.ellingseter@thormedical.com
ABOUT THOR MEDICAL ASA
Thor Medical is an emerging supplier of alpha particle emitters produced from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.
ABOUT ADVANCELL
AdvanCell is committed to developing innovative targeted alpha therapies that will change the course of cancer treatment. AdvanCell is the leading 212Pb-focused radiopharmaceutical company and recognised leader in the Targeted Alpha Therapy field. By combining advanced manufacturing capabilities with cutting-edge science and clinical development, AdvanCell aims to deliver novel treatments that enhance outcomes for cancer patients worldwide. For more information, visit www.advancell.com.au .
Recent news and articles relating to the TheraPb (NCT05720130) Phase 1b study with ADVC001 can be found here:
TheraPb Phase 1b abstract accepted for presentation at ESMO 2025
TheraPb highlighted in PSMA Theranostics session at SNMMI by investigator David Pattison - AdvanCell
IMPORTANT INFORMATION
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published by Brede Ellingsæter, CFO & COO, Thor Medical ASA, at the time and date stated above in this announcement. This release contains forward -looking information and statements relating to the business, performance, and matters that may impact the results of Thor Medical. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," "potential," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Thor Medical operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. This release is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company.
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