Oslo, Norway, 26 June 2024: The Norwegian Radiation and Nuclear Safety Authority (DSA) authorization is a milestone for establishing a first-of-its-kind pilot production plant for medical isotopes from natural thorium at Herøya, Norway.

The authorization cover manufacturing, import/export, and commercial trade of radioisotopes, and supports Thor Medical’s ambitions to supply Th-228 into an emerging market with billion-dollar potential.

The pilot plant is scheduled to produce product samples and enable customer acceptance in the second half of 2024, with targeted plant completion and commissioning by end of Q3. The first product samples for customers are scheduled to be delivered before the end of the year.

“There are very few commercially available suppliers of high-grade Th-228 globally to enable next-generation precision cancer treatment. The DSA authorization is an important step towards industrialising production and lays the foundation for our pilot to be launched as scheduled later this year”, says Alf Bjørseth, CEO of Thor Medical.

Building on the pilot plant, Thor Medical aims to fast-track commercial-scale production to support customers' requirements in clinical trials. The company has initiated a feasibility study to deliver commercial volumes already by the end of 2025.

Disclosure regulation

This information is required to be disclosed under Section 5-12 of the Securities Trading Act.

Contacts

• Brede Ellingsæter, CFO, Thor Medical ASA, +47 472 38 440, brede.ellingseter@thormedical.no

Attachments

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