Thor Medical ASA (OSE:TRMED), a supplier of alpha-emitters for precision cancer treatment, announced on Tuesday that it has received a NOK90m loan from Innovation Norway.
This funding, combined with a recent private placement, will fully finance the construction of the company's first commercial-scale plant, AlphaOne. Thor Medical expects to make a final investment decision for AlphaOne by the end of the first quarter of 2025.
AlphaOne will enable Thor Medical to significantly increase production capacity, supporting the development of cancer therapies for several international pharmaceutical companies.
At full capacity, the plant is projected to generate approximately NOK400m in revenue and positive cash flows.
(EUR1=NOK11.73)
RYBREVANT plus LAZCLUZE shows significant improvement in overall survival for lung cancer, says J&J
BerGenBio initiates lung cancer trial with bemcentinib and pacritinib
Thor Medical secures NOK90m loan from Innovation Norway
Adcentrx Therapeutics doses first patient in ADRX-0405 Phase 1a/b study
Norgine submits European marketing authorisation application filing for eflornithine
Nuvation Bio secures NMPA approval for taletrectinib in China
Hanx Biopharmaceuticals reports first patient dosed in Phase 1 clinical trial of HX044
Fapon Biopharma introduces FP008 immunotherapy for refractory cancers at Biotech Showcase
Innovent and Roche agree exclusive global licence for novel DLL3 ADC
Kazia Therapeutics updates on paxalisib regulatory pathway after FDA meeting
McKesson completes sale of Rexall and Well.ca businesses to Birch Hill Equity Partners
CARsgen Therapeutics reveals positive CT041-ST-01 (NCT04581473) Phase II clinical trial results
Duality Biologics reveals B7H4 ADC milestone achievement and license exercise by BeiGene