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6.11.2025 07:30:12 CET | Thor Medical ASA | Inside information
Oslo/Melbourne, 6 November 2025: Thor Medical ASA, a leading emerging supplier of alpha-emitters for next-generation precision cancer treatment, has signed a strategic master supply agreement with Telix Pharmaceuticals, a global radiopharmaceutical company headquartered in Australia.
The five-year agreement is for Thor Medical to supply Telix with thorium-228, which Telix will use as precursor for production of lead-212 for its next-generation therapeutics pipeline.
“Partnering with Telix, a global leader in radiopharmaceuticals, is a strong validation of Thor Medical’s ability to deliver high purity alpha isotopes at scale. Together, our aim is to broaden access to next-generation targeted alpha therapies, with the potential to offer new hope to patients with hard-to-treat cancers,” says Jasper Kurth, CEO of Thor Medical.
The thorium-228 will be supplied from Thor Medical’s AlphaOne site, the company’s first commercial-scale plant for radioisotopes currently under construction with planned production start in Q3 2026.
”Lead-212 is regarded as one of the most promising alpha isotopes, and targeted alpha therapy is a priority focus in Telix’s next-generation therapeutics pipeline. The partnership with Thor Medical supports our goal to make lead-212 available at commercial scale using our proprietary generator technology and radiopharmacy network” says Chad Watkins, General Manager Isotope Strategy at Telix.
Telix is a commercial-stage and rapidly growing radiopharmaceutical company focusing on advanced precision cancer care with a global network of manufacturing facilities designed to deliver patient doses worldwide. In March 2025, Telix announced the rollout of its own generator technology for production of lead-212 using thorium-228 as precursor. The alpha-emitting profile and relatively short half-life of lead-212 (10.6 hours, compared with 9.9 days for actinium-225, 225Ac) also offers practical synergies with Telix’s engineered antibody discovery platform, acquired from ImaginAb, Inc. in January 2025.
CONTACT
Brede Ellingsæter, CFO & COO Thor Medical, +47 472 38 440, brede.ellingseter@thormedical.com
ABOUT THOR MEDICAL ASA
Thor Medical is an emerging supplier of alpha particle emitters produced from naturally occurring thorium. Its proprietary production process requires no irradiation or use of nuclear reactors, and provides reliable, environmentally friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.
ABOUT TELIX PHARMACEUTICALS
Telix is a biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia, with international operations in the United States, United Kingdom, Brazil, Canada, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX). For further information visit: www.telixpharma.com
IMPORTANT INFORMATION
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published by Brede Ellingsæter, CFO & COO, Thor Medical ASA, at the time and date stated above in this announcement. This release contains forward -looking information and statements relating to the business, performance, and matters that may impact the results of Thor Medical. Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," "potential," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Thor Medical operates to differ materially from the statements expressed or implied in this release by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. This release is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company.
