The private placement brought in about NOK 137.8 million and the retail offering about NOK 10.7 million, with shares priced at NOK 90. The company’s two largest shareholders, Linc and Hadean Ventures, each took part with around NOK 17 million.

The Norwegian company is developing Radspherin, an alpha radiation therapy designed to destroy residual micrometastases in the abdominal cavity after surgery. The treatment is given as a single, localized dose, and the first clinical focus is ovarian and colorectal cancer. Oncoinvent was founded by the originators of Algeta and its prostate cancer drug Xofigo, which was acquired by Bayer.

The proceeds will fund the ongoing randomized Phase 2 trial in ovarian cancer through a more mature interim readout, expected in March or April 2027. Patient recruitment is expected to be completed around April 2027. The funds will also cover regulatory alignment with the FDA and EMA ahead of Phase 3 applications. Together with existing cash, they extend the company’s runway into the second half of 2027.

“Oncoinvent is developing alpha radiation therapy for patients whose cancer has spread to the abdominal cavity, patients with few treatment options and a high risk of relapse. This financing lets us base a Phase 2 interim readout in ovarian cancer on a larger, more mature dataset, and push ahead with Phase 3 preparations,” says Øystein Soug, CEO of Oncoinvent.

“A more robust dataset gives Oncoinvent the strongest possible foundation for its next phase,” says Gillies O’Bryan-Tear, Chair of the Board.

Source: Oslo Cancer Cluster