- OncoSil Medical (OSL) has received regulatory approval from Singapore’s Health Sciences Authority for its OncoSil device
- This approval means the company is now able to market and sell its device in Singapore for the treatment of advanced pancreatic cancer
- The company’s namesake device implants a pre-determined dose of beta radiation directly into the cancerous tissue via ultrasound guidance
- Chemotherapy is then used in tandem with this device to destroy the cancerous tissue
- OncoSil is up a steady 7.14 per cent on the market and shares are trading for 11.3 cents each
OncoSil Medical (OSL) has received regulatory approval from Singapore’s Health Sciences Authority for its OncoSil device.
This approval means the company is now able to market and sell its device in Singapore for the treatment of advanced pancreatic cancer.
“We are pleased to receive the regulatory approval in Singapore as it represents a key step in the company’s Asian commercialisation strategy. Although Singapore is a smaller market, it is a significant and attractive market for OncoSil,” CEO and Managing Director Daniel Kenny said.
“With the recent CE Mark and now our first Asian approval, OncoSil is taking all the key steps in shifting itself into a commercial-stage medical device company,” he added.
The OncoSil device is designed to treat patients with advanced and unremovable pancreatic cancer. This device is used in tandem with chemotherapy.
Current treatments for cancerous cells include surgery, chemotherapy, radiation, or chemoradiation therapy.
Even though surgery may not be an option depending on the location of the cancerous cell’s, OncoSil’s device can still be used to identify the location.
The device is a brachytherapy (treatment of cancer) device that implants a pre-determined dose of beta radiation directly into the cancerous tissue via endoscopic ultrasound guidance.
The ultrasound then uses high-frequency sound waves to produce detailed images of the lining and walls of specific organs and the beta particles then travel a short distance to the tissue that is causing the damage.
This helps locate the cancerous cells while chemotherapy is then used to destroy them.
OncoSil is up a steady 7.14 per cent on the market and shares are trading for 11.3 cents each at 11:35 am AEST.