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)