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- OncoSil Medical (OSL) reports the company’s first commercial treatment of pancreatic cancer with the company’s flagship OncoSil device in Europe
- The treatment took place in Madrid, Spain at the Hospital Universitario de Fuenlabrada
- The device is implanted directly into a patient’s pancreatic tumours via an endoscopic ultrasound, delivering a more concentrated and localised beta radiation compared to external beam radiation
- CEO and Managing Director Nigel Lange called this an “important milestone” with plans to work with other hospitals to maximise the benefit of the treatment
- OSL shares are up 57 per cent, trading at 6.6 cents
OncoSil Medical’s (OSL) share price has spiked today after it reported the first commercial treatment of pancreatic cancer with the company’s flagship OncoSil device in Europe.
The procedure was performed at the Hospital Universitario de Fuenlabrada, in Madrid, Spain.
The device is a targeted radioactive isotope (Phosphorus-32), implanted directly into a patient’s pancreatic tumours via an endoscopic ultrasound, delivering a more concentrated and localised beta radiation compared to external beam radiation.
The company had completed several clinical studies with positive results on tolerability, safety and efficacy and has been classified as “a breakthrough device” in the European Union and the United Kingdom.
CEO and Managing Director Nigel Lange called this an “important milestone”, blaming COVID-19 for a delay in the product gaining access to hospitals.
“As restrictions are now beginning to ease, our team have been able to train more hospitals and work with key opinion leaders on the benefits of the OncoSil device for patients with locally advanced pancreatic cancer,” Mr Lange said.
“We look forward to the OncoSil device becoming more accessible to patients throughout Spain and subsequently other European countries, to maximise the benefit from this novel treatment.”
The OncoSil team has fully trained 10 hospital sites in Spain for the implantation of the OncoSil device. The company’s sales team in Spain is working with other trained hospitals to facilitate the tender process to enable greater patient access to the OncoSil treatment in different regions.
OSL shares were up 57.1 per cent, trading at 6.6 cents as of 12:22 pm AEST.
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